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MEDIA
Viacom leaps after CBS spinoff
The parent of Paramount Pictures studio, MTV and, soon, DreamWorks SKG, shot up 4% to 41.54 on the strong NYSE debut of its just-spunoff CBS, which rose 3% to 26.20. The network joined Viacom in '99, but under shareholder pressure to unlock value, Viacom decided to spin off its slower-growth broadcast and publishing firms from its faster-growing movie and cable units.
Starz, Microsoft make movie play
Starz Entertainment Group is launching a movie download service for $9.99 a month that lets consumers view films, concerts and TV shows on portable devices powered by Microsoft software. Users will be able to download unlimited programs on up to 3 devices, including Windows-based computers. Starz is ...