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BULLETIN: Viacom Inc. Ratings Not Affected by Resignation of Mel Karmazin Jun 04
Standard & Poors, June 2004
Abstract
NEW YORK (Standard & Poor's) June 2, 2004--The resignation of Viacom's President, Mel Karmazin, does not affect the company's ratings (A-/Stable/A-2). Despite the loss of his strong leadership ability, the company will benefit from a new co-President, co-Chief Operating Officer team of two highly respected executives, Tom Freston (previously Chairman and CEO of MTV Networks) and Leslie Moonves (previously Chairman and CEO of CBS). Viacom will need to ensure the continued momentum of the performance of the MTV and broadcasting units-both management intensive businesses-as these two executives transition into their new responsibilities. The company has indicated Freston and Moonves are leading candidates to become Viacom's next CEO, which will be determined within the next three years. Viacom's announcement that it...
Companies mentioned in this report are: CBS Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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