Revenue at Viacom’s media neworks division, which includes its cable networks, slid 8% to $197 million in the second quarter, the Associated Press reports.
Domestic ad revenue slipped 6%.
Howvever, Viacom CEO Philippe Dauman said he was pleased with how the upfront marketplace was going and that he was optimistic moving forward.
At least one analyst was skeptical, the AP reported: "I think the upfronts are in a really odd state of flux right now," said David Bank of RBC Capital Markets . "They’re going to turn out better than everyone thought three or four months ago, but no one knows exactly how these negotiations are going."