Viacom’s board has officially decided to make Bob Bakish, CEO of Viacom International Media Networks (VIMN), the Acting CEO as of November 15 when Tom Dooley steps down from his interim role. Bakish has also been named CEO of newly minted unit Viacom Global Entertainment Group.
Viacom Global Entertainment Group blends VIMN with the Music and Entertainment Group, which includes Comedy Central, MTV, VH1, Spike and Logo. TV Land and CMT will also join the Group.
The Kids and Family Group is being redubbed the Nickelodeon Group, which will “exploit the broad array of growth opportunities in all facets of the kids segment, including recreation and hospitality,” according to Viacom.
It is expected that Bakish will serve as Acting CEO until such time as Viacom and CBS re-merge. Options are being weighed per the wishes of Sumner Redstone’s National Amusements, which holds 80% of the voting power at both companies. The Viacom CEO post has been in a fugue since August when Philippe Dauman failed to overturn Redstone’s decision to dump him.
Bakish has been with Viacom since 1997, and has headed VIMN (and its prior incarnation MTV Networks International) since 2007. Earlier in his career, Bakish was a partner with Booz Allen & Hamilton in the firm’s Media and Entertainment practice. Bakish holds an MBA from Columbia Business School.
