Viacom is being proactive in tempering earnings expectations for its current fiscal quarter.
In a statement issued Friday, the media company said the “disappointing” box office performance of “Teenage Mutant Ninja Turtles: Out of the Shadows” and the delay in completing a “significant” SVOD agreement are to blame for a more pessimistic Q3 outlook.
That latter issue can be attributed to what the company called “recent and highly public governance controversy” — in other words, the ugly and ongoing fight between CEO Philippe Dauman and Sumner and Shari Redstone, who head the National Amusements holding company that controls 80 percent of Viacom.