Viacom reports 3.7% drop in quarterly revenue  

Media company Viacom reported a 3.7 percent fall in quarterly revenue on Thursday due to a drop in domestic advertising sales and fees it collects from cable TV operators.

Net income attributable to Viacom, which is exploring a merger with CBS, fell to $522 million, or $1.29 per share, in the third quarter ended June 30, from $683 million, or $1.70 per share, a year earlier.

Total revenue fell to $3.24 billion from $3.36 billion.