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"We are pleased to conclude this litigation. Viacom’s popular internship program has helped thousands of students launch careers in the entertainment business and beyond."
“We are rapidly adapting our processes and business as well as human, financial and technological resources to increase focus on new high potential areas."
Shares of Viacom—which owns, besides Comedy Central, the Nickelodeon, MTV, and VH1 channels, dropped 2 percent in response to the Stewart announcement.