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Thursday, May 11, 2006

News Bytes on Media conglomerates

Rupert Murdoch's Right Wing News Corp. Profit doubles, led by broadcast, cable

Viacom quarterly profit falls on interest expense
the company, which spun off television and radio broadcaster CBS Corp. (CBS.N: Quote, Profile, Research) at the beginning of January, said profit fell to $317.2 million, or 43 cents per share. That compares with year-earlier earnings of $350.3 million, or 47 cents per share, which were calculated as if CBS had not been part of Viacom. Sumner Redstone, Corporate chieftain of Viacom, fired Dan Rather rather than offend the Bushies and the right wing cry babies at the FCC..

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