Company Town : Blockbuster May Lose Huizenga Under Viacom

With Blockbuster Entertainment seemingly headed for acquisition by Viacom Inc., what happens to the management team that built Blockbuster into the nation’s biggest video rental chain?

Documents recently filed by Viacom show that the company intends to offer three-year employment agreements to all of Blockbuster’s officers and to “certain other members of its management.” But Blockbuster Chief Executive H. Wayne Huizenga, who is scheduled to be vice chairman of the combined company, may not be around for long.

According to the documents, Huizenga “will continue as a member of the combined company’s senior management for an appropriate transition period following the completion of the merger,” suggesting that he plans to depart once things settle down.

Not that Huizenga needs a job. His net worth has been estimated at nearly $700 million. He also owns three of the four major sports teams in the Miami area and wants to build a huge new sports and entertainment complex there.

* Viacom Productions named Adene Lacy vice president, finance and operations.

* Hanna-Barbera Cartoons named several executives to new positions. Ilene Hoffman is director of development, motion pictures; Alan Keith was named controller; Joe Mazzuca is vice president, TV production management; Christopher Glennon is director of studio operation, and Bill Dennis is general manager for the company’s Fil-Cartoons.

* Brothers Gary and Andrew Adelson have formed Adelson Entertainment, a Century City production company.