Viacom Braces for New CEO by Cutting Dividend, Profit Forecast

Updated on
  • Interim chief Tom Dooley will leave the company in November
  • Viacom halved its dividend to 20 cents; will boost liquidity

Viacom Inc., reeling from a legal battle for control of the media giant and hamstrung by more than $12 billion in debt, cut its quarterly dividend in half and said interim Chief Executive Officer Tom Dooley will leave.

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