Viacom Woes May Linger for Longer as AT&T Weaponizes Time-Warner
- Traders cite AT&T saying it wants to manage content spending
- Viacom shares have fallen since topping earnings mid-November
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Viacom Inc.’s turnaround may prove to be a much longer saga than Chief Executive Officer Bob Bakish bargained for.
The cable network owner has fallen more than 8 percent since topping Wall Street’s earnings expectations earlier this month. But a recent lackluster performance at the box office from the Mark Wahlberg vehicle "Instant Family" doesn’t bode well for Paramount Pictures, which helped drive Viacom’s last quarter.