Magazine article Variety

Bakish Takes Viacom Helm, for Now

Magazine article Variety

Bakish Takes Viacom Helm, for Now

Article excerpt

ANOTHER MONTH, another Viacom CEO. The company has tapped its third CEO in 90 days in naming long-time international networks chief Bob Bakish as acting president/CEO.

Bakish's elevation had been expected. But the word "acting" reflects the corporate maneuvering underway as Viacom pursues a recombination with CBS Corp. - the most significant byproduct of the coup that saw Sumner Redstone oust Philippe Dauman as Viacom chairman/CEO in August. Tom Dooley, Dauman's long-time No. 2, succeeded him as interim CEO but passed on taking the permanent job. Dooley will exit Nov. 15, when Bakish takes over.

The boards of Viacom and CBS Corp. have established committees to study how a corporate reunification would work, starting with the price tag for a deal and post-merger management. The next step, sources say, is for those committees to exchange formal communications and begin the due diligence process, likely in the coming weeks. …

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