MTV CHAIRMAN DECIDES TO STAY ON

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MTV CHAIRMAN DECIDES TO STAY ON
Tuesday, October 3 2006

MTV Networks Chairman Judith McGrath has decided to remain with the company, ending weeks of speculation that she might quit following the ouster of Viacom CEO Tom Freston, who was regarded as her mentor. In an interview with today's (Tuesday) New York Times, McGrath said, "I want the people that work here to know that I'm here and I believe in our strategy and I believe in them." Responding to criticism that MTV has not been aggressive enough in exploiting broadband opportunities, McGrath said, "We made hundreds of millions in digital this year and that is a growth opportunity." Moreover, she remarked, "This is not a business in trouble. I'm not looking at you as someone who is losing piles of money or losing share of eyeballs." In a separate interview with Fortune magazine, McGrath acknowledged that she was surprised when Viacom Chairman Sumner Redstone fired Freston. "But Sumner has always been a maverick personality," she added.

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