Viacom CEO Ousted as Stock Price Falls
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Chairman Sumner Redstone was displeased that Viacom had not severed ties with Tom Cruise.
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CNET News.com's Michael Kanellos says the company was overthrown by competition, product commoditization and sheer arrogance.
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Viacom named Brad Grey, one of the most prominent talent managers in Hollywood, chairman and chief executive of its troubled Paramount Motion Picture Group.
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Investors are tuning in to news that the subscription-based programmer has tapped Mel Karmazin, the former Viacom president, to be its new CEO.
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Viacom Inc. (VIAb.N) on Tuesday said  President and Chief Executive Tom Freston resigned and will be  replaced by Philippe Dauman, a longtime associate of the  company's chairman Sumner Redstone.
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Viacom Inc. on Thursday posted a quarterly loss on charges from spinning off the Blockbuster Inc. video rental chain, but its shares rose on a larger-than-expected stock repurchase and higher cable network advertising sales.
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In abruptly replacing Thomas E. Freston as chief executive of Viacom yesterday, Sumner M. Redstone sent another blaring signal to the media world and Wall Street that he does not intend to fade out of the picture.
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Viacom Inc. (VIAb.N) has demanded that  Google Inc.'s  online video service YouTube pull down  all of its video clips after they failed to reach an agreement,  the company said.
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TiVo Inc. , the digital video recorder maker that faces competition from cable television providers, on Tuesday said President Marty Yudkovitz has resigned, only weeks after Chairman Michael Ramsay said he would step down as chief executive.
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Viacom, whose properties include MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central and Paramount Pictures, ran out of patience after months of discussions with Google and YouTube, the company said in a statement.
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In a case of history  repeating itself, Sumner Redstone has ousted Viacom Inc.  president and CEO Tom Freston, with the executive chairman of  the media giant telling surprised investors Tuesday that two  longtime confidants have returned to take the helm.
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SAN FRANCISCO -- Yahoo Inc. (YHOO) Chairman Terry Semel stepped down as chief executive in a surprise move Monday, ending his increasingly ineffectual pursuit of online search leader Google Inc.
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Viacom Inc.  has demanded that Google Inc.'s  online video service YouTube pull down all of its video clips after they failed to reach an agreement, the company said.
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Special dividend puts media conglomerate Viacom closer to divesting stake in the video rental chain.
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Chief executives have been an embattled group lately. Bristol-Myers Squibb (BMY), Ford (F) and Viacom (VIA, VIA.B) each replaced their top executives in recent days.
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Viacom Inc.  has demanded that  Google Inc.'s  online video service YouTube pull down  all of its video clips after they failed to reach an agreement,  the company said.
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Chief executive officer Scott Livengood was ousted Tuesday as head of Krispy Kreme Doughnuts Inc., the once-trendy chain whose stock price has plummeted amid a federal securities investigation and allegations of padded sales figures. Shares of Krispy Kreme jumped 12 percent.