The Daily Stern: Karmazin out… Sell Viacom
: Stern said this morning that Mel Karmazin has quit Viacom. He got the call from Les Moonves, who is now in charge of radio at the company. I find nothing on the wires yet.
Well, sell Viacom. What a ridiculous way to run a company. Karmazin brought the company every bit of credibility it has. He is an incredible salesman. He is better at controlling costs than anybody in the industry, including Rupert. He understands broadcasting better than any executive in the industry. But Sumner Redstone throws him out, apparently to make way for his daughter, who knows only sellling overpriced popcorn.
And, yes, it’s a bad day for the First Amendment, for Karmazin was also about the only guy around with the balls to fight the FCC today.