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Viacom Inc.

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Viacom has seen a major corporate change with its CEO Philippe Dauman resigning and the Board of Directors being revamped. Additionally, the company's Board has received a request to consider a merger with CBS Corp. from National Amusements Inc. (NAI) which owns majority voting shares in both CBS Corp. and Viacom. NAI has also mentioned that it is unwilling to cease control over Viacom or the possibly combined entity. Viacom has been struggling due to stiff competition from media companies as well as spiraling programming expenses, decline in cable T.V. demand, and weaker ratings. Adding further to the company's issues, it also slashed dividends by half to $0.20 per share. Viacom expects adjusted diluted earnings per share for the fiscal fourth quarter to be in the range of $0.65 to $0.70. The company will be announcing its fourth quarter results on Nov 9.

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