Viacom’s effort to revive its fortunes is driving its shares, which have outperformed the industry on a year-to-date basis. The company is benefiting from increasing household subscriber growth in international business, driven by new channel launches in the United Kingdom and Poland. Additionally, Turnaround in Paramount and MTV divisions, expanding digital presence and international strength are key positives. The increase in audience for the flagship brands is another positive. Moreover, the operational efficiency of the company is reflected in its cost savings, which is anticipated to drive bottom-line growth. However, declining domestic affiliate and advertisement revenues remains a major concern. Moreover, the ongoing feud between CBS’ board of directors and controlling shareholder has created uncertainty. This doesn’t bode well for the stock at least in the near term..