Viacom Inc. chief operating officer Mel Karmazin wouldn't tip his hand
about whether he'll stay or go, but he said questions about whether he'll remain
at the company should be resolved in short order.
When asked at the Credit Suisse First Boston Corp. annual media conference whether an
announcement would be made this year, he said, 'It would be my hope to do
something sooner rather than later.'
He only wants to stay at the company with chairman and CEO Sumner Redstone if
'I can add more value to Viacom and have a lot of fun.'
He and Redstone have clashed over the past couple of years, and Karmazin's
contract is up at the end of next year.
Karmazin also said Viacom is interested in media acquisitions, but only
if they come at a price that isn't terribly dillutive to existing shareholders
and has strong growth prospects.
Asked about Vivendi Universal, Karmazin said he's keenly
interested in Sci Fi Channel, but not in the company's music or movie divisions,
or even USA Network, which he considers too broad-based.