Viacom Shares Sink After Analyst Criticizes TV ‘Playbook’

TheWrap: Shares in Viacom slipped Monday after a key analyst told investors he could no longer recommend buying the stock. Michael Nathanson of firm MoffettNathanson said he’s given up on his belief that Viacom’s television ratings would improve while the cable ad market would strengthen. “Having seen that trade work many times over the past decade, we expected similar results this year. Clearly, the old Viacom playbook no longer works.”