Viacom Inc. -- Moody's says Viacom's restructuring initiatives will not impact its Baa2 long term debt ratings

New York, April 08, 2015 -- Moody's Investors Service said that Viacom Inc.'s ("Viacom") announced strategic realignment plans will not impact its Baa2 long term debt or its Prime-2 short term debt rating. Viacom announced significant strategic initiatives across its Media Networks, Filmed Entertainment and Corporate divisions, to enhance operational efficiency and augment financial performance. In connection with the realignment, the company will incur a pre-tax charge of approximately $785 million, reflecting the impact of programming impairments and restructuring costs, which are expected to be paid over time. The initiatives are expected to provide ongoing annual cost savings of approximately $350 million. The savings in fiscal 2015 are expected to be approximately $175 million. The rating outlook for Viacom is stable.

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