logo
Share SHARE
FONT-SIZE Plus   Neg

Viacom Chairman Sells Class B Shares

Viacom Inc.'s (VIA,VIAB) chairman Summer Redstone sold 128,777 common Class B shares for about $7.5 million on February 7, a regulatory filing showed.

The media conglomerate's chairman sold 125,077 shares at $58.6842 per share, while 3,700 shares were sold at $59.0589 per share.

The Class B shares of Viacom do not have voting rights.

Viacom owns MTV, Nickelodeon and Comedy Central as well as film unit Paramount Pictures.

The company recently reported a sharply lower profit from continuing operations for the first quarter, as revenues declined 16 percent owing mainly to lower Filmed Entertainment revenues due to the timing and mix of releases.

VIAB closed on Monday at $59.31.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipotle Mexican Grill (CMG) is giving away free food and drinks this September as the restaurant chain still struggles to boost its sales that has been sluggish after outbreaks of E.coli, salmonella and norovirus at its restaurants. The chain is offering free kids meals every Sunday in September... It seems that Colonel Sanders' nephew unknowingly disclosed the secret blend of 11 herbs and spices behind KFC's fried chicken, which the food chain touts as the most heavily-guarder food recipe in the world. However, KFC executives refutes the report and insist that its 11-spice "Original Recipe"... QSR Brands, Malaysia's largest fast food operator, is planning for an initial public offering worth more than $400 million, according to the Wall Street Journal.
comments powered by Disqus
Follow RTT