Viacom reported a 3 percent drop in revenue for the third quarter to slightly more than $3.3 billion, while net earnings rose 15 percent to $463 million, compared to the same period in 2008. Full Article at AdWeek

NEW YORK -- Viacom's Paramount Pictures is looking at a sequel to current hit release "Paranormal Activity." In Viacom's earnings call Tuesday morning, CEO Philippe Dauman said the movie has been one of those surprise hits that comes along only rarely. Full Article at Hollywood Reporter

NEW YORK -- Viacom Inc. reported third-quarter profit gains as cost controls helped offset a slight revenue decline amid mixed trends in the film and TV networks units. Full Article at Hollywood Reporter

Viacom's profit jumped 15% last quarter to $463 million, buoyed by a newly energized Paramount, where "Transformers: Revenge of the Fallen" and "G.I. Joe: Rise of the Cobra" boosted earnings by $88 million. Full Article at Variety

Sumner Redstone will own less of Viacom Inc. (NYSE:VIA), but his influence on the media giant will continue. Full Article at DealScape

Viacom Inc. (NYSE: VIA) (NYSE: VIA-B) President and Chief Executive Officer Philippe Dauman issued the following statement regarding the FCC's Notice of Proposed Rulemaking on preserving the open Internet and broadband industry practices. Full Article at Street Insider