Comedy Central

Viacom's new CEO unveils updated strategy as earnings fall

Viacom's new CEO unveils updated strategy as earnings fall

Viacom Inc. reported lower earnings for its fiscal first quarter as the entertainment company’s newly installed chief executive, Bob Bakish, rolled out an ambitious turnaround plan that marshals resources around six key brands.

Bakish on Thursday announced that Viacom would focus on its brands that have a global profile: MTV, Comedy Central, BET, Nickelodeon, Nick Jr. and Paramount. Viacom plans to rebrand its Spike channel as the Paramount Network next year to capitalize on its association with the legendary Hollywood film studio.

“The strategy is about emphasizing these flagship brands,” Bakish told analysts on a conference call. He dubbed the lineup the...

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