Viacom Restructures
Viacom plans to reorganize three of its domestic network groups into two new organizations as a result of a companywide review of its Media Networks, Filmed Entertainment operations and corporate functions, a news release said Monday. In connection with the…
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realignment, Viacom will recognize a pre-tax charge in fiscal Q2 of about $785 million, reflecting the impact of write-downs of underperforming programming, Viacom said. The new structure realigns sales, marketing, creative and support functions, increases efficiencies in program and product development, enhances opportunities to share expertise, and promotes greater cross-marketing and cross channel programming activity, Viacom said. The company is also expanding its capabilities in business areas, including data analysis, technology development and consumer insights, reflecting the rapidly changing media market, shifting consumer behavior and evolving measurement practices, it said.