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Viacom: Programming
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[I]n reaction to the MoveOn/BNF suit, Viacom moved the ball forward for Internet users' rights. In order to address any similarly erroneous takedown notices in the future, Viacom has agreed to set up a website and email "hotline," promising a review of any complaint within one business day and a reinstatement if the takedown request was in error.
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Howard announced this morning, in a press conference that included Viacom/Infinity head Mel Karmazin, that he had signed a contract to do another 5 years of radio. Congratulations to Howard and the gang!
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The Wall Street Journal is running a piece with reactions from various analysts to the announcement today that Tom Freston was being replaced as Viacom’s CEO. Only one analyst—J.P. Morgan credit analyst Kristina Sazama—gives it a positive gloss, saying the firm views “Viacom's leadership change [as] a modest positive for the credit.” And that’s a rather tepid endorsement. The other ten are generally negative. Top honors for the negatives goes to Rob Cox of Breakingviews.com, who writes:
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Mr. Tortoroli began his tenure at Viacom as Senior Vice President, Controller and Chief Accounting Officer in October 2005. In that role, Mr. Tortoroli oversaw accounting and financial reporting, financial planning and forecasting, S-O-X, risk management, and payroll for Viacom.
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Mr. Barge will be responsible for overseeing financial reporting, accounting, financial planning, global taxation and treasury for Viacom and its subsidiaries. He will report to Thomas E. Dooley, Senior Executive Vice President, Chief Administrative Officer and Chief Financial Officer of Viacom.
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Viacom continues to make missteps. They scewed up losing Howard Stern to satellite radio. You have to wonder about the CEO - the rate of the pack is determned by the speed of the leader.
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