REPORTS: MASSIVE MTV LAYOFFS PLANNED

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REPORTS: MASSIVE MTV LAYOFFS PLANNED
Monday, February 12 2007

Saying that corporate parent Viacom has lost patience with the underperformance of MTV Networks, the New York Post reported Sunday, citing several unnamed sources, that the company may lay off as many as 500 employees by the end of the week. The Post indicated that morale at the cable unit has collapsed following last summer's firing of Tom Freston as Viacom CEO and that Chairman Sumner Redstone has stepped in to take a more direct hand in running the unit. Today's (Monday) Daily Variety reported that an unnamed Viacom insider had confirmed the layoffs but said that the number is likely to be closer to 250 than 500. The London Financial Times today put the number at 300, adding that some Viacom executives are expecting hundreds more in MTV's international division.

AT VIACOM, THE HITS KEEP ON HAPPENING
Friday, January 12 2007
Only one day after Gail Berman was ousted as president of Viacom's Paramount Pictures after only 18 months on the job, the company announced the departure of yet another high-profile exec: Michael Wolf, president and COO of MTV Networks. Wolf had spent only a year with the company. Today's (Friday) Los Angeles Times depicted Wolf's exit as "part of [an] upheaval" at Viacom. In a statement, MTV Networks CEO Judy McGrath said of Wolf's departure, (more)

MTV EXPANDING WEB EFFORTS
Tuesday, November 28 2006
MTV plans to launch more than 20 websites in 2007 ranging in content from music to spirituality. The announcement was made by Philippe Dauman, the recently appointed CEO of MTV's corporate parent Viacom. The new websites are due to go online during the first half of the year. (more)