Viacom Making All the Money???

Viacom has released that they've had a 37% increase in revenue this quarter, a surprised especially compared to last quarters profits. Well apparently Viacom owns more companies than I actually knew, ie: MTV, VH1, and Paramount Pictures. They said that their increase came from television channels and returning advertisements. They did have a 19% decrease in film revenue because of a decrease in dvd sales. They said that they plan to make this up by releasing "branded" and "franchise" pictures, which are pictures that made good revenue previously. Movies on this list are "Shrek Forever After" and "Iron Man 2". They did say that MTV didn't have great viewings, therefore they will reevaluate their program listings.
My question is, is this too much power? Will we soon go back to old media where it is ran really by one mass media institution. We really have no control. Then there is only one person in control of all of our different aspects of entertainment, Sumner M. Redstone. Will other try to take over different ownership of companies that Viacom owns?