Viacom Shakeout Trickles Down3 Jun, 2004 By: Holly J. Wagner
Blockbuster Video has a new director and the head of Paramount's entertainment division has announced his resignation in the wake of Viacom COO Mel Karmazin's departure announcement.
One day after Karmazin resigned, Paramount Pictures chairman Jonathan Dolgen announced he would leave July 15.
“I couldn't be more proud of the operations I'm leaving behind, including Paramount Pictures, Paramount TV, Simon & Schuster, Famous Players, and Paramount Parks, and the extraordinary executives who lead them. I have been especially fortunate to have worked so closely with my partner Sherry Lansing, one of the true greats in the motion picture industry. Together we have been able to make great pictures and contribute to Viacom's overall performance. It has been a great run," he said.
Blockbuster Video also announced the appointment of Michael D. Fricklas to its board of directors to succeed Karmazin in that role. Fricklas, 44, who serves as EVP, general counsel and secretary of Viacom Inc.