Kevin Kay, the head of Viacom’s Paramount Network, TV Land and CMT, is leaving the company as part of a reorganization of the company’s media networks. Under the new structure the Paramount Network and TV Land will operate alongside Comedy Central under Kent Alterman. CMT will join Chris McCarthy’s group, which includes MTV, VHI and Logo.
The reorganization marks an effort for encourage sharing of resources as Comedy Central, Paramount Network and TV Land all have a focus on comedy and CMT, MTV, VH1 and Logo all focus on music and unscripted, according to a memo by CEO Bob Bakish, reviewed by The Information.
For Viacom, sharing resources is key as the company is in the midst of a turnaround effort after years of lagging ratings under Mr. Bakish. When the company reports earnings in a couple of weeks, we will know more about how that effort is faring.