Viacom Vibe Turns Upbeat

Investors are ready to reset their clocks when it comes to Viacom (VIA Quote).

The media conglomerate, in what is likely to be its last earnings report as a joint company, reports Tuesday as its separation proceedings move toward a long-awaited conclusion. Wall Street is eager to see the split completed so the company can have the semblance of a fresh start.

The company said earlier this year it would be splitting into the new Viacom, a growth play to be led by Tom Freston, and the new CBS, a value play led by Leslie Moonves. Last week it announced that the split, which will give Viacom holders half a share of each new company, was ahead of schedule and on track for a pre-Christmas separation. To no one's surprise, Chairman Sumner Redstone -- who cited irreconcilable differences on the synergy front for the disassembly play -- will keep his hands firmly on the wheel as chairman at both companies. ...