Larry Berman CFA, CMT, CTA
Viacom Inc. (B)
VIA.B-N
TOP PICK
Mar 03, 2004
Has been under pressure for the last 3/4/5 months. Has a pretty flat stable pattern across the longer-term timeframe. Getting to the bottom part of the cycle.
One of its principal holdings is CBS which has the highest ratings. Has become reasonably cheap and has paid off a lot of debt. Generates a significant amount of cash flow. Expects advertising spending to pick up.
Likes their content, creativity in the company. 50% of the business is coming from specialty cable. Content and cable means good growth. Blockbusters gone. Taming radio. Marginal things will be sold for more than what they are on the books which will free up a couple of billion $'s.