In an investor presentation this week, Viacom CEO Tom Freston told Wall Street to expect double-digit revenue and operating income and even higher earnings per share in the coming years due to organic
growth at the newly split media conglomerate. While Freston said no major acquisitions would be needed to spur growth, "our long-term vision includes a social-networking platform," he said--a la
MySpace.com. With no such social network in Viacom's impressive repertoire of content holdings, Viacom may have to acquire its way into the territory currently being dominated by Rupert Murdoch and
company. Freston told investors Viacom is in talks with several social networking companies, but he couldn't predict when or with whom the deal might be struck. While the company is likely to focus on
the film business, Freston projected that upwards of 40 percent of the company's advertising revenue growth would come from digital and international operations. Currently, 75 percent of Viacom's
digital revenue stream comes from advertising, with the rest coming from subscriptions.
Read the whole story at The Hollywood Reporter »