UPDATE 1-Viacom sees strong ad sales despite economy
NEW YORK, Sept 22
NEW YORK, Sept 22 (Reuters) - Viacom VIAb.N sees strong advertising sales across its cable networks despite the tough macroeconomic environment, its chief executive said on Thursday.
The parent of MTV, Nickelodeon and Hollywood studio Paramount, said ad revenue rose in the "high single digits" percentage points helped by the automotive and toy sectors during the September quarter, Chief Executive Philippe Dauman said, speaking at a Goldman Sachs conference.
"Despite the macroeconomic headlines the tone of the advertising market remains strong," Dauman said. "We had a good quarter and the next quarter bodes well," he said.
Dauman also added that the company expects to buy back up to $2.5 billion of its own stock in the next fiscal year. (Reporting by Yinka Adegoke; Editing by Derek Caney)
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