Viacom quarterly revenue down 6%

Viacom Inc, the owner of television channel MTV and movie studio Paramount, reported a 5.7 per cent fall in quarterly revenue, hurt by lower domestic advertising revenue and a lack of hit movie releases in the period. Net income attributable to Viacom fell to $449 million in the first quarter ended December 31 from $500 million a year earlier. Revenue declined to $3.15 billion from $3.34 billion.