http://www.fool.com/investing/2016/06/22/viacoms-plan-to-turn-around-the-biggest-part-of-it.aspx

They say content is king; but apparently, it's not everything. Cable networks have seen dwindling subscriber rates as more and more consumers cut the cord and look for cable alternatives. Viacom (http://variety.com/2016/biz/news/corporate-missteps-led-to-viacom-woes-1201800610/) (NASDAQ:VIA), nearly a pure play in cable networks, has been hit hard by cord-cutting and cord-shaving. Its affiliate fees fell 1% over the first six months of fiscal 2016. These accounted for the largest part of Viacom's revenue last quarter, so their decline should concern investors. Most other cable network operators have been able to increase affiliate fees despite declining subscriber rates. Disney (NYSE:DIS), for example, saw an increase in affiliate fees last quarter despite continued declines

why even bother, all Viacom networks are falling apart, and getting more commercials. It's likely ratings will decline even more further for future, and people would rather watch programs for netflix or any digital channels with variety like Me-TV and AntennaTV

http://www.fool.com/investing/2016/06/24/is-viacom-inc-getting-too-cheap-to-ignore.aspx

What happened to Viacom? Viacom's quarterly revenue has fallen year-over-year for five consecutive quarters due to poor cable TV ratings, slumping ad revenues, and Paramount's lackluster theatrical slate. Viacom's core cable networks -- MTV, VH1, Nickelodeon, Comedy Central, and BET (http://allblackmedia.com/3-reasons-why-black-people-no-longer-watch-bet/) -- lack hit programs to compete against top-rated shows like AMC Networks' The Walking Dead and Time Warner's Game of Thrones on HBO. Nick-at-Nite is Viacom's most popular network, but its average number of viewers was less than a million at the end of 2015. By comparison, AMC had an average audience 3.9 million viewers for all its original series in 2015. Therefore, it wasn't surprising that Viacom's Media Networks