Viacom restructures media networks div into four operating groups
MUMBAI: US and global media conglomerate Viacom has restructured Viacom Media Networks (VMN) into four operating groups. Effective immediately, VMN will consist of four brand groups 1) Comedy Central, Paramount Network and TV Land, 2) MTV, VH1, CMT and Logo, 3) BET Networks, and 4) Nickelodeon.
The company said that the new structure will streamline VMN’s operations, enhancing the ability of Viacom’s network teams to coordinate scheduling and programming, share production and other resources, and leverage important talent relationships.
The Comedy Central, Paramount Network and TV Land group will be led by Kent Alterman, President, and Chris McCarthy will expand his current role of President of MTV, VH1 and Logo to now include CMT. Alterman and McCarthy will continue to report to CEO Bob Bakish. There are no changes to BET Networks or Nickelodeon.
With these changes, Kevin Kay will step down as Paramount Network, TV Land and CMT president after a transition period. Kay’s achievements during his tenure at Viacom include overseeing a string of hits for Nickelodeon, such as All That, Kenan & Kel and The Adventures of Pete & Pete, as well as developing and greenlighting SpongeBob SquarePants. During his tenure at Spike, he oversaw the launch of fan-favorites like The Ultimate Fighter, Lip Sync Battle, Bar Rescue and Ink Master, as well as the expansion of Bellator.
“These changes mark the next step in the ongoing evolution of our company as we continue to ensure we’re making the most of our great assets and resources, and operating as nimbly and efficiently as we can. Comedy Central, Paramount Network and TV Land share an original content strategy anchored in scripted programming, and CMT – with its deep roots in music and unscripted programming – is a natural partner for MTV and VH1. Kent and Chris have been driving forces behind Viacom’s flagship strategy, re-energizing and growing two of our most iconic brands, and I can’t wait to see what they do next,” said Bakish.