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Plan to Shed Blockbuster Boosts Viacom
Updated from 7:46 a.m.
Viacom (VIA.B Quote) shares rose Tuesday as the company rolled out a long-awaited plan to shed its Blockbuster (BBI Quote) movie-rental business.
Viacom posted strong fourth-quarter revenue, but bottom-line results were hobbled by a $1.3 billion charge at Blockbuster, which Viacom plans to spin off. That move ended weeks of speculation about the future of the problematic video retailer, fed occasionally by Viacom executives' vague comments about Blockbuster's fate. ...
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