Update: Bakish Says No Management Changes at Nickelodeon
Viacom is about to make top-level management changes at Nickelodeon, according to a published report.
Sarah Levy, the executive in charge of operations and strategy for Viacom networks including MTV, Comedy Central and VH1, will be getting involved in operations and strategy for the top kids network, according to the Wall Street Journal.
Zarghami’s contract is expiring soon, and it isn’t certain whether she will remain with the company, the WSJ said. Zarghami is president of the group, overseeing linear, digital, mobile and consumer products for Nickelodeon, Nick at Nite, Nick Jr., TeenNick and Nicktoons.
Nickelodeon remains the highest rated kids channel; last year its overall viewership was flat.
The report comes as CEO Bob Bakish tries to turn the company around. It has been suffering from lower earnings as younger viewers desert traditional pay-TV. This week, the company fired about 100 staffers in a cost-cutting move.
“It isn’t just about cutting costs – although we want savings, too, and more flexibility to invest in new areas,” Bakish said in a memo to remaining staff. "These moves are really about our continued efforts to create a more agile and efficient organization that can thrive in a time of constant change."
Viacom’s controlling shareholders, the family of Sumner Redstone, are seeking to combine Viacom with CBS, also controlled by the Redstone holding company, National Amusements.
Viacom will report quarterly earnings on Thursday (Feb. 8).