Hughes Joins the Growing Viacom Exodus
Viacom International Inc., New York, said Friday that the head of its entertainment and broadcast groups is resigning, marking the latest high-level departure since the company was acquired by National Amusements Inc.
Paul M. Hughes, who had been president of the Entertainment Group since last October and president of the Broadcast Group since April, 1982, resigned to pursue other opportunities, the company said.
Viacom, a major entertainment and broadcasting company, became a majority-owned unit of National Amusements, a Dedham, Mass.-based theater chain operator, in a $3.4-billion leveraged buyout completed in June.
The buyout followed a heated takeover battle against a management-led group, several members of which have left the company while still serving on a consulting basis.
They include Hughes, former Viacom President and CEO Terrence Elkes and Executive Vice President Kenneth F. Gorman.
Viacom last month named Frank J. Biondi, former chief executive of Coca-Cola Television, as its president and CEO, and observers expected further high-level changes as Biondi brought in his own management team.
Hughes said in a news release that his nine years with Viacom had been “challenging and exciting,” and he expected the company to continue to grow and prosper under the new management.
Hughes was said to be unavailable for comment on Friday. No successor yet has been chosen.
Henry S. Schleiff, who was named chairman of the Entertainment and Broadcast groups last week, credited Hughes with the development of the broadcast group and the planned syndicated launch of the hit TV series “The Cosby Show,” one of Viacom’s hottest properties.
Viacom’s Broadcast Group comprises five television and nine radio stations. Its Entertainment Group produces, distributes and licenses television programming, movies and commercials.
In addition, Viacom operates cable TV systems serving 829,000 subscribers and owns the cable programmers Showtime-the Movie Channel and the MTV Networks Inc. music video operation.
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