Bob Bakish appointed CEO of Viacom as it pulls out of CBS merger

Viacom Inc, parent company of MTV, VH1, BET and more music TV properties, has officially appointed Bob Bakish as President and CEO.

The news comes as Viacom’s board pulls out of discussions regarding a potential merger with CBS.

Bakish, who joins the company’s board effective immediately, has served as Acting President and Chief Executive Officer of Viacom since November 15.

He has held leadership positions at Viacom since 1997, most recently (before his Acting CEO role) serving as President and CEO of Viacom International Media Networks – and its predecessor company MTV Networks International – since 2007.

Tom May, Chairman of the Board, said, “In Bob’s short time as Acting President and CEO he has impressed the Board of Directors with the decisive steps he has taken. He has moved quickly to deliver upon the mandate given to him – to maximize Viacom’s potential as a strong, growing and independent company.

“We have great confidence in Bob’s strategic vision and his ability to move forward aggressively to position Viacom for the future.”

“We have great confidence in Bob’s strategic vision and his ability to move forward aggressively to position Viacom for the future.”

Tom May, Viacom Inc

Shari Redstone, Vice Chair of the Board, said, “I am very excited by the strategy Viacom is pursuing under Bob’s leadership, as well as the relentless hard work and passion he has demonstrated not only in his fast start at the helm but in his many years at the company.

“While there is much work to do, I firmly believe that Viacom has a bright future, and that confidence is underpinned by senior management’s commitment to innovation and a more coordinated, global approach to managing our brands.”

Bob Bakish, President and Chief Executive Officer, said, “I am honored to be chosen by the Board to lead Viacom, its world-class brands and exceedingly talented people. I believe unequivocally in this company and its potential to create new opportunities and drive greater value as our business evolves and our industry transforms.

“We’ve been working very quickly to mobilize the organization, reenergize our culture and address our areas of greatest need. I look forward to continuing to work closely with the Board and our team to build on this momentum, and will share more on our plan and path forward in the New Year.”

Viacom’s media networks, including Nickelodeon, Comedy Central, MTV, VH1, Spike, BET, CMT, TV Land, Nick at Nite, Nick Jr., Logo, Nicktoons, TeenNick, Channel 5 (UK), Telefe (Argentina) and Paramount Channel, reach over 3.9 billion cumulative television subscribers worldwide.Music Business Worldwide

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