Gershon, Richard A. and B. Ratnadeep Suri (2004). Viacom, Inc.: A Case Study in Transnational Media Management, Journal of Media Business Studies 1(1):47-69.
Key Words: transnational media corporation, strategy, leadership, succession, business history
This article analyzes Viacom, Inc., a leading transnational media corporation in the production, sale, and distribution of electronic media entertainment. The study examines the history and development of Viacom, building on theoretical work that argues that business strategies and corporate culture of a company are often a direct reflection of the person (or persons) responsible for developing the organization and its business mission. Viacom's long-standing CEO, Sumner Redstone, has shown himself to be an aggressive leader who is deeply involved in all aspects of the company operations. The article also examines the business strategy of Viacom, a unique media business entity that has been built through the steady acquisition of existing media companies. A critical challenge facing Viacom is the company's inability to find a successor to Redstone in preparation for his future retirement. Viacom's apparaent lack of a succession plan is in large measure due to Redstones's unwillingness to share power at the top and failure to appoint a CEO successor.