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Viacom: Viacom Chairman
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Viacom might not be a household name, but its famous entertainment brands are welcomed into most living rooms on a daily basis. The company is a leading media conglomerate with an extensive portfolio of cable TV and film production assets. Its MTV Networks unit runs such cable networks as Comedy Central, Nickelodeon, and the family of MTV channels (MTV, MTV2, VH1). Viacom ... owns Black Entertainment Television, which airs programming on BET, BET Gospel, and BET Hip Hop. In the film business, Viacom operates through Paramount Pictures, which includes the DreamWorks imprint. Chairman Sumner Redstone controls a majority of Viacom through his National Amusements movie theater chain.
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Shares of Viacom have not been big performers since the split-up was announced last June by Viacom Chairman Sumner Redstone. He will continue to lead both Viacom and CBS, backed by CEO Tom Freston at the new Viacom, and CEO Leslie Moonves at CBS.
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-- MTV Networks, a unit of Viacom Inc. (NYSE:VIA) (NYSE:and) (NYSE:VIA.B) , has acquired IFILM Corp., one of the leading video destinations on the Web, for $49 million. The announcement was made today by Judy McGrath, Chairman and CEO of MTV Networks.
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In March 2005, Viacom announced plans of looking into splitting the company into two publicly traded companies. The company was not only dealing with a stagnating stock price, but ... the rivalry between Les Moonves and Tom Freston, longtime heads of CBS and MTV Networks respectively. After the departure of Mel Karmazin in 2004, Redstone, who served as Chairman and Chief Executive Officer, decided to split the offices of President and Chief Operating Officer between Moonves and Freston. Redstone was set to retire in the near future, and a split would be a creative solution to the matter of replacing him.
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Sumner Redstone, the 82-year-old chairman of Viacom and CBS, may not use email, blogging, Twitter, or text messaging, but he does understand his business. During his keynote speech at Dow Jones and Nielsen's Media and Money conference, he unleashed a series of pithy quotes. On copyright: "If content is king, copyright is its castle." On YouTube: "Think about it: You cannot pay the rent posting videos on YouTube." The content mountain has officially relocated." [Forbes]
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NEW YORK, Dec. 12 /PRNewswire/ -- MTV Networks (MTVN), a unit of Viacom , today announced the formation of a Global Inclusion Strategy advisory committee. Drawn from across MTV Networks' brands and business units, the advisory committee will set priorities, develop strategies and implement policies that advance MTVN's core values of diversity, multiculturalism and inclusion throughout the company. The advisory committee was selected by Judy McGrath, Chairman and CEO, MTVN, and Marva Smalls, EVP, MTVN Global Inclusion Strategy; and EVP, Public Affairs and Chief of Staff; Nickelodeon/MTVN Kids & Family Group. Smalls will serve on the committee as its chair.
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