|Michael J. Wolf
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VIACOM DIRECTORS APPROVE SPLIT UP OF COMPANY
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VIACOM MAY SPLIT ITSELF IN TWO
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Cites Weakness in Radio, Outdoor Units
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Mr. Wolf, who will report to MTV’s chairwoman, Judy McGrath, will lead MTV’s business and technology operations, as well as set and implement MTV’s multiplatform strategy.
“Michael's incredible operational, digital media and marketing expertise will help us further extend our global brands across multiple platforms," Ms. McGrath said in a statement. "I know his compelling vision about the digital future of our industry will allow us to take full advantage of new and emerging opportunities in today’s marketplace."
Mr. Wolf, 44, who was most recently managing partner of media, entertainment and information at global consulting firm McKinsey & Co., has worked with many Viacom executives over the years and has also been hired for various consulting projects. Prior to McKinsey, Mr. Wolf was a senior partner at Booz Allen & Hamilton, where he founded and led the firm’s media and entertainment group. He is the author of The Entertainment Economy: How Mega-Media Forces are Transforming Our Lives.
Mr. Wolf’s appointment comes as MTV parent company Viacom prepares to split itself into two publicly traded companies. MTV Networks, along with Paramount Pictures, will operate under Tom Freston, while Viacom’s network TV units, CBS and UPN, will report in to Leslie Moonves.
Booz Allen alum
At Viacom, Mr. Wolf joins several Booz Allen alum, including Bob Bakish, exec VP-operations, and Mike Dolan, exec VP-chief financial officer, also an ex-Booz Allen managing partner. “He’s not only a bright guy, he’s got a lot of business acumen and common sense, a rare combination,” said Mr. Dolan.
In a statement, Mr. Wolf said, “MTV is one company in the entertainment industry where the Internet meets television and television meets the Internet. It is the nexus of the new and the old. It is an exciting time to partner with these world-renowned brands that have always been global leaders in both driving and embracing change and innovation.”