CNN: Karmazin steps down as President/COO of Viacom...

[Cooley Hurd]

http://money.cnn.com/2004/06/01/news/fortune500/karmazin/index.htm?cnn=yes

NEW YORK (CNN/Money) - Mel Karmazin resigned Tuesday as president and chief operating officer of Viacom Corp.

The company also announced that Chairman and CEO Sumner Redstone, the company's largest shareholder, has indicated that he will relinquish his role as CEO within three years.

The media conglomerate named Leslie Moonves, the chairman and CEO of Viacom unit CBS, and Tom Freston, the chairman and CEO of Viacom's MTV cable networks, as co-presidents and co-chief operating officers.

Karmazin has reportedly clashed with Redstone in recent years, as contentious contract negotiations got played out in media reports a year ago. At that time, Karmazin got a contract extension through 2006, but which reportedly also took back some powers granted to him at the time of the Viacom purchase of CBS in May 2000.


Karmazin's Viacom has been under attack by the FCC as of late, for the Janet Jackson/Superbowl debacle, as well as for Howard Stern (Stern works for Ininity Broadcasting, a division of Viacom).

[maddezmom]

1. here's a link that mentions it

On the corporate front, Viacom Inc. (NYSE:VIAB - news) shares edged lower before the bell after a report by TV network CNBC that its No. 2 executive Mel Karmazin will step down, ending several years of tension with Chief Executive Sumner Redstone.

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/bs_nm/markets_stocks_dc

[Cooley Hurd]

3. Thanks, maddezmom!

I can always count on you to find a link. :yourock:

[maddezmom]

4. better link MSNBC; Viacom's Mel Karmazin resigns

http://msnbc.msn.com/id/5110878/

[Gasolinedream]

2. THis sucks...

He was one of the few people telling the FCC to shove the sticks in their asses up a little farther and leave things alone!!!!

In my opinion, this is very bad!

[Cooley Hurd]

6. This might mean Stern's days are numbered...

Karmazin came from Infinity when they were bought up by Viacom and was Stern's biggest corporate ally...

Anyone listening to Stern this morning? Has he said anything about it?

[lanparty]

5. Viacom ... Best of the worst

Viacom was by far the most "liberal" of the media syndicates out there. They may have shuffled the Reagan film, but they had the guts to make it the first place. They also put programs like "Queer as folk" and "60 Minutes" on the air.

[bkcc]

7. bad news

I have a feeling this spells the end for Howard Stern.
Karmazin was one of the few people sticking up for him...now that he's gone, I think it's only a matter of time for Stern.

[PROGRESSIVE1]

8. Stern's days are NOT numbered!!! Moonvies is a Liberal...

just as Karmazin and Redstone are!

VIACOM is still on our side!

[NashVegas]

9. updates galore

headlines

Les Moonves To Oversee Infinity

Moonves, who has been in the top role at CBS since last year, joined the network in 1995 as President of CBS Entertainment. Meanwhile, colleague Tom Freston's new duties as co-President/co-COO will have him overseeing not only MTV Networks, where he's been Chairman/CEO, but also the Showtime and BET cable TV networks, ...

Sumner Redstone: 'Nobody Asked Mel To Resign'

During a conference call with reporters this morning, Redstone said Karmazin recently expressed to him frustration over Viacom's sagging stock prices. Redstone said Karmazin felt largely responsible for the decline. "I told him he had no right to blame himself," Redstone said.


Viacom Chief Unafraid Of Competition From Karmazin
Karmazin Was 'One Candidate' To Replace Redstone

Viacom Chairman/CEO Sumner Redstone said during a conference call with reporters this morning that while the company's board of directors has for some time been working on a succession plan to follow Redstone's eventual departure, Viacom President/COO Mel Karmazin, whose resignation was announced this morning, was just one of several people being considered for Viacom's top job.


Sumner Redstone Insists His Daughter Won't Replace Him
Viacom Committed To Radio, For Now

Viacom President/COO Mel Karmazin Resigns
Howard Stern: I’m Finished

The WXRK/New York-based syndicated morning host, who has worked with outgoing Viacom President/COO Mel Karmazin for more than 18 years, told listeners this morning that “there is no guy who can calm me down as much as Mel.” Stern noted that Karmazin merged his own company, Infinity, with Viacom and that he is the victim of a “pissing match with Sumner that got out of hand.”

http://radioandrecords.com/Subscribers/TodaysNews/newspm.asp

[President Jesus]

10. Viacom is dominated by liberals, the new Freston maybe moreso than Mel

Take a look at how generous these cats have been to the Democratic party...

Sumner Redstone
Les Moonves
Tom Freston
Mel Karmazin