UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 24, 2003
VIACOM INC.
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(Exact name of registrant as
specified in its charter)
Delaware 001-09553 04-2949533
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State or other jurisdiction Commission IRS Employer
of incorporation File Number Identification Number
1515 Broadway, New York, NY 10036
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(Address of principal executive offices) (Zip Code)
(212) 258-6000
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(Registrant's telephone number, including area code)
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press release dated September 24, 2003 issued by the
Registrant.
Item 9. Regulation FD Disclosure
On September 24, 2003, the Registrant issued a press release announcing that it
was updating its business outlook for 2003. A copy of such press release is
attached hereto as Exhibit 99 and is incorporated by reference herein in its
entirety.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VIACOM INC.
(Registrant)
By: /s/ Michael D. Fricklas
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Michael D. Fricklas
Executive Vice President,
General Counsel and Secretary
Date: September 24, 2003
Exhibit Index
99 Press release dated September 24, 2003 issued by the Registrant.
VIACOM UPDATES BUSINESS OUTLOOK FOR 2003
New York, New York, September 24, 2003 - Viacom Inc. (NYSE: VIA, VIA.B)
announced today that it is updating its full year 2003 business outlook.
Viacom said that while the economic recovery has translated into robust national
advertising sales growth, the pace of recovery in local advertising markets
going into the fourth quarter is not as rapid as had been anticipated. The
Company said it now expects to deliver mid- to high-single digit growth in
revenues and operating income for the full year, versus its earlier guidance of
high single-digit growth for revenues and double-digit growth for operating
income. In addition, Viacom now expects to deliver low- to mid-teen growth in
net earnings (before cumulative effect of change in accounting principle) and
earnings per share for full year 2003, versus its earlier guidance of mid-teen
growth.
Viacom continues to expect a record year for revenues, operating income, net
earnings (before cumulative effect of change in accounting principle) and
earnings per share in 2003, as well as strong growth for 2004. The Company is
extremely well-positioned to reap the benefits of an expected improvement in
local advertising markets in 2004, driven by an improving economy, political
advertising, and the Super Bowl on CBS.
Viacom is a leading global media company, with preeminent positions in broadcast
and cable television, radio, outdoor advertising, and online. With programming
that appeals to audiences in every demographic category across virtually all
media, the Company is a leader in the creation, promotion, and distribution of
entertainment, news, sports, music, and comedy. Viacom's well-known brands
include CBS, MTV, Nickelodeon, VH1, BET, Paramount Pictures, Viacom Outdoor,
Infinity Broadcasting, UPN, Spike TV, TV Land, CMT: Country Music Television,
Comedy Central, Showtime, Blockbuster, and Simon & Schuster. More information
about Viacom and its businesses is available at www.viacom.com.
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Cautionary Statement Concerning Forward-looking Statements
This news release contains both historical and forward-looking statements. All
statements, other than statements of historical fact are, or may be deemed to
be, forward-looking statements within the meaning of section 27A of the
Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934.
These forward-looking statements are not based on historical facts, but rather
reflect the Company's current expectations concerning future results and events.
Similarly, statements that describe our objectives, plans or goals are or may be
forward-looking statements. These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be different from any
future results, performance and achievements expressed or implied by these
statements. The following important factors, among others, could affect future
results, causing these results to differ materially from those expressed in our
forward-looking statements: advertising market conditions generally, and, in
particular, in local markets; changes in the public acceptance of the Company's
programming and, in particular, performance of motion pictures to be released in
the fourth quarter and television programming; changes in technology and its
effect on competition in the Company's markets; changes in the Federal
Communications laws and regulations; the impact of piracy on the Company's
products; other domestic and global economic, business, competitive and/or
regulatory factors affecting the Company's businesses generally, including,
among other things geopolitical risks; and other factors described in the
Company's previous news releases and filings made by the Company with the
Securities and Exchange Commission including but not limited to the Company's
Form 10-Q for the periods ended March 31, 2003 and June 30, 2003 and the
Company's Form 10-K for the period ended December 31, 2002. The forward-looking
statements included in this document are made only as of the date of this
document and under section 27A of the Securities Act and section 21E of the
Exchange Act, we do not have any obligation to publicly update any
forward-looking statements to reflect subsequent events or circumstances.
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Contacts:
Media: Investors:
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Carl D. Folta Marty Shea
212-258-6352 212-258-6515
Susan Duffy Jim Bombassei
212-258-6347 212-258-6377