Why Gabelli Is Buying Up Viacom

The long-running bull market has bypassed Viacom International (VIA). Its class A stock is at 32 a share, off its May 21, 1996, high of 43. "Among cable-TV and entertainment stocks, Viacom is the loaded laggard that hasn't moved," says investment maven Mario Gabelli. But don't count Viacom out, he says. Gabelli has just increased his stake from 5% to 8.5%.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.