During the second quarter, we added media company Viacom, Inc. (NASDAQ:VIAB) to Ariel Fund. While acknowledging investor concerns toward the cable business model stemming from changing media consumption patterns and technology platforms, we view Viacom as an underappreciated security in the market. Also a current holding in Ariel Appreciation Fund, we believe Viacom’s content will provide attractive economics regardless of the distribution medium.
From John Rogers (Trades, Portfolio)' Ariel Fund second quarter 2016 commentary.
