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Viacom first quarter profits up

Viacom’s first quarter profit topped Wall Street expectations, aided by a recovery in advertising sales and hit shows such as “Jersey Shore” on MTV. Advertising sales rose three per cent worldwide and one per cent in the United States, signaling a rebound in a market dogged by one of its worst stretches in decades.
The US media giant, which owns the MTV and Nickelodeon cable channels and Paramount film studios, said net income rose to $243m (£158m), from $177m a year earlier.