Pay for ViacomÂs Chief to Start at $2 Million
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Viacom said it would pay its new chief executive $2 million in salary, as a way to limit cash compensation and tie most of the compensation to the performance of ViacomÂs stock.
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Also: company announces it exceeded 2 million subscribers over Labor Day weekend.
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THE company behind animated hits such as Shark Tale and Shrek has made initial moves towards a public offering which could be worth up to $US700m ($960m).
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Viacom Inc. on Thursday named Joel  Hollander as chairman and chief executive officer of its  Infinity radio unit in a shake-up of top management that comes  as it prepares to sell dozens of stations to boost business  amid an industry-wide slump.
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William C. Van Faasen, chief executive of Blue Cross and Blue Shield of Massachusetts, earned $2.4 million last year, once again making him far and away the highest paid head of any of the state's big health insurers.
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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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Executives want to the end the industryâs decades-old system of payment to writers, actors and directors for the reuse of movie and television programs.
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Malicious-toolbar distributor pays more than $2 million in federal settlement.
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Media company News Corp. paid Chief  Executive Rupert Murdoch $25.7 million in the fiscal year ended  in June, including salary and a $21-million bonus, and in May  started paying $50,000 a month for his apartment.
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Viacom Inc. chairman and CEO Sumner Redstone said Tuesday he wants to restore the media giant's growth rates to industry-leading status by next year and drive its stock higher -- even if it leads to a credit downgrade.
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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. is in the final stage of  negotiations to appoint a Hollywood dealmaker who is producer  of the hit television show "The Sopranos" as chief executive of  its Paramount Studios, a source familiar with the matter said  on Monday.
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News Corp  Chairman Rupert Murdoch received a pay raise last fiscal year, boosting his compensation package to $24.3 million, nearly matching the pay of his second in command.
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The chief executive of media giant Viacom expressed reservations Thursday about Google's plan to enter YouTube content into a database and give owners the chance to take down the material.Viacom is suing Google for $1 billion over content being used on Google's YouTube Web property without permission. Speaking at the Web 2.0 Summit event San Francisco, Viacom President/CEO Phillipe Dauman expressed a willingness to work with online media properties but was skeptical of the Google plan, called Video Identification.Dauman said he had an open mind about reaching an agreement and that the announcement of Video Identification was a positive evolution. But it is not enough."I don't think we're quite there" said Dauman. Google, he said, can do things quickly if it wants to, he added. "I guess they haven't wanted to at this point," Dauman said.Google wants a proprietary system that benefits just one company, but the solution has to be a cooperative effort, said Dauman. He added he suspects Viacom at some point in the future will work with Google. The company does have a good relationship with Facebook, he said.Viacom has had its defenders, according to Dauman. "A lot of the technology companies out there welcome what we do," he said. Companies have said it was about time somebody took a stand, Dauman added.Like Google, Viacom has to protect its intellectual property. "I don't see their algorithms being shared openly with competitors," said Dauman."We took a step reluctantly because we had to," he said.Content producers need to be rewarded for what they do, Dauman said. "That nurtures creativity," he said.Viacom was part of a group of media and technology companies, along with vendors like CBS and Microsoft, that detailed Thursday principles intended to enable growth and development of user-generated content online while respecting intellectual property rights.Featured in these principles is implementation of filtering technology to eliminate infringing content; upgrading of technology and cooperation in technology implementation, and development of procedures to address claims that content was blocked in error. Removal of content also is addressed.Google was not a party to Thursday's announcement.
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Corrects paragraph 8 to say Infinity is part of CBS and no longer a division of Viacom
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LOS ANGELES  Media conglomerate Viacom is considering entering the video game business and could acquire Midway Games, Viacom chief Sumner Redstone, who owns a controlling stake in Midway, said in a regulatory filing Friday.
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Gadget maker Sling Media Inc. said it  plans to announce on Thursday that it has hired two former MTV  Networks executives to head a new interactive programming  division.