Summary Box: Snooki and cast of ‘Jersey Shore’ helping lift MTV and parent Viacom out of slump
By APTuesday, August 31, 2010
Summary Box: MTV revival pulls Viacom out of slump
RATINGS SMUSH: People ages 12 to 34 are loving MTV these days, with ratings up 22 percent since July, thanks partly to “Jersey Shore.” The increase in ratings since January marks the first consistent upswing in three years.
STOCK-WOWW: Caris & Co. analyst David Miller says the ratings gains are “golden.” He rates Viacom Inc. stock “above average” with a $42 target price, about a third above the current level, as ad revenue is seen rising.
HIT RATE UP: MTV Networks chief executive Judy McGrath says more new shows created by MTV are becoming hits, boosting audience share in a given time slot, compared with a year ago.
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