Viacom restructures to take $785 mn charge, brings TV networks into two units

[Deepu]

Media giant Viacom Inc has stated that it would take $785 million in pre-tax charges for job cuts and to write down the value of underperforming shows hurt by weak ratings, soft advertising market and growing online competition. This is the result of a company-wide restructuring that eliminated several senior posts and included write-downs for programming that failed to generate satisfactory audience ratings. Reality TV shows and acquired programmes made up the bulk of the charge, which was disclosed in a Securities and Exchange Commission filing.

Read more at: http://www.televisionpost.com/news/viacom-restructures-to-take-785-charge-brings-tv-networks-into-two-units/ | TelevisionPost.com

 

[Technoglitch]

another round of job cuts and revamp.

 

[NinadG]

"As per reports, MTV and Nickelodeon suffered dramatic ratings declines and the company’s stock has dropped nearly 18 per cent.
several reports suggest that the layoffs affected as many as 400 people, while the shows being written down include reruns of ‘CSI’, ‘Entourage’ and ‘Community’ among others."

 

[IndianMascot]

They should close MTV now or make it a music channel again.

 

[Technoglitch]

MTV is playing music in the morning, isnt it?

 

[IndianMascot]

Yes only for few hours. Why don't they return back as 24 hours music channels.

 

[DashMajor]

I think nowhere days it is very challenging to run 24x7 music channel.

As MTV was used to be music channel for 18 to 20 hours then year after year they start reducing the time.

 

[Technoglitch]

If they do not want revenues more, then music can be played 24 hrs.

 

[Satya]

MTV is so boring. Especially that roadies show. Whenever you switch on TV there is roadies. As far as English music is concerened evn 9xo is much better than vh1.

 

[NinadG]

It seems MTV wanted to differentiate from rest of the music channels which is not easy...also becoming a music channel like other 10+ channels & somehow earning just to survive is not what international channels want.....So I think they tried to make some difference & also experimenting like Indies....