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Viacom cable nets post gains

Viacom's cable networks unit posted a 17% cash flow gain to $470 million on a
7% revenue gain to $1.1 billion for the third quarter.

Cable increases were due to higher affiliate fees for both cable and DBS and
double-digit ad revenue gains at MTV, VH1, TV Land and BET.

The TV division, which includes CBS, UPN, TV stations
and production and syndication units, posted a 17% operating cash flow drop to
$283 million, on a 7% revenue decline to $1.6 billion.

Infinity, the radio/outdoor advertising unit, showed a 20% drop in cash flow to $373.1 million on an 11% revenue shortfall to $910 million.

The company blamed the continuing softness in the ad market and the Sept. 11 terrorist attack for the declines at the TV and radio/outdoor units.

 - Steve McClellan