Viacom Inc Class B VIAB
Q4 2012 Earnings Call Transcript

Transcript Call Date 11/15/2012

Operator: Good day, and welcome everyone to the Viacom Fiscal Year Fourth Quarter 2012 Earnings Release Teleconference. Today's call is being recorded.

At this time, I would like to turn the conference over to Senior Vice President of Investor Relations, Mr. Jim Bombassei. Please go ahead, sir.

James Bombassei - SVP, IR: Good morning, everyone, and thank you for taking the time to join us for our earnings call for the quarter and fiscal year ended September 30. Joining me for today's discussion are Sumner Redstone, our Chairman; Philippe Dauman, our President and CEO; Tom Dooley, our Chief Operating Officer; and Jimmy Barge, our Chief Financial Officer.

Please note that in addition to our press release, we have slides and trending schedules containing supplemental information available on our website.

I want to refer you to Page number 2 in the web presentation and remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. These risks and uncertainties are discussed in more detail in our filings with the SEC. Reconciliations for non-GAAP financial information discussed on this call can be found in our earnings release or on our website.

Now, I'll turn the call over to Sumner.

Sumner M. Redstone - Executive Chairman of the Board and Founder: Thank you, Jim, and thank you all for being with us this morning. I am really pleased to join our leadership team to report Viacom's financial results. Our share once more again benefited from our relentless focus on producing great content, operating efficiency and maximizing returns to shareholders in every single environment. As our industry continues to ever more rapidly evolve this obsessive focus will separate Viacom from its peers and help ensure our continued leadership for many, many years in our success.

The fact of the matter is that Viacom has always been in the reinvention business. Our cable network continually innovate and strengthen their connections with new fans on new programs year after year and our motion picture operations continue to bring innovative Filmed Entertainment to more people, on more screens, in more places than ever before. Of course, the main (person) of this success is my friend Philippe Dauman. Philippe provides extraordinary leadership for Viacom's outstanding management team and in fact, he has been at my side creating all that I have built over the past 25 years and I know I'm confident we will continue to go by the same strategic insight and operating scale that will ensure Viacom's success for many, many years to come. He in fact is my most trusted advisor who understands my vision and has the (height) as well as ability to see it through.

I'm proud to turn the call over to my forever friend Viacom's CEO. I often refer to him as a genius and as the wisest man I ever met and the reason is that Philippe has operated Viacom in a truly fantastically successful manner. So here is – it's your Philippe. Take it over.

Philippe Dauman - President and CEO: Thank you, Sumner. I really appreciate it. Good morning, everyone. Thank you for joining us today. We know that many of you on the call today like many of us here at Viacom live, work or have loved ones in areas enduring the devastating effect of Hurricane Sandy. We hope that you and your families were able to weather the storm and return to the normal rhythm of life that we too often take for granted. For those still trying to rebuild, we are with you. Viacom remains committed to recovery efforts whether it's our corporate support of the American Red Cross and other relief organizations or the initiatives of our individual brands including MTV's, Restore the Shore (indiscernible) tonight. We thank our employees who continue to support the recovery through the Company and their own personal efforts.

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