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 Support The DrudgeReport; Visit Our Advertisers  SUMNER REDSTONE LETTER TO VIACOM EMPLOYEES Tues Jun 1 2004 12:14:11 ET TO: Viacom Employees FROM: Sumner Redstone DATE: June 1, 2004 I am writing to share some important news regarding Viacom. Today I am proud to announce that the Board of Directors has named Tom Freston and Leslie Moonves as Co-Presidents and Co-Chief Operating Officers of Viacom. As most of you know, they have each presided over phenomenal growth stories: Tom at MTV Networks, which he built over the last 17 years into the most formidable cable programming operation in the world. And Les, who has transformed CBS Network into America's most-watched broadcast network, and advertisers' must-have venue. Both of these men have served as key members of Viacom's executive management team, and have been integral in shaping the Company's strategic direction and overall financial performance. After four years guiding our Company, Mel Karmazin has decided to resign from his position as President and Chief Operating Officer of Viacom. As we all know, Mel has made incalculable contributions to Viacom since the merger of Viacom and CBS and has been instrumental in making us the best managed company in the media industry. His legacy of achievement and success with our Company is long and impressive, spanning more than 20 years. I know you will join me in wishing him well. In addition to MTV Networks, Tom will be responsible for overseeing the operations of Showtime, BET, Paramount Parks, Simon & Schuster and the motion picture operations of Paramount Pictures. In addition to overseeing Viacom's broadcast television businesses, Leslie will be responsible for the operations of Paramount TV, Infinity Broadcasting and Viacom Outdoor. Viacom's corporate staff will report directly to me. Tom and Les are exactly the right executives to help take Viacom to a new level of performance based on the creative excellence that has always been at the core of our vision for this Company. Their elevation will create opportunities for other talented executives to step up to new roles within their respective organizations. We have strong and talented management across all of our divisions, and the best employees in the industry working throughout our ranks. With your continued support and dedication, I know that we can all look forward to many more years of innovation and industry leadership. We have much to be proud of and much to look forward to. The announcement released to the media today can be found on our website, www.viacom.com Developing... |
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