Philippe Dauman spoke with us on Tuesday shortly after he was appointed chief executive at Viacom, owner of MTV Networks and Paramount studios. You can listen to an audio file of the interview here (Dauman Interview).
A close associate of Chairman Sumner Redstone, Dauman spoke broadly about Viacom’s new focus on early stages start-ups as well as growth through investment in internal projects, which puts companies like hot online video business YouTube out of its crosshairs for now. Here’s our story. Here’s a Reuters Newsmaker profile of Dauman.
Dauman spoke with Reuters reporters Michael Flaherty and Kenneth Li. Some excerpts below:
Q: Who’s running this company?
A: I am. I’m the president and CEO. Sumner asked me to run it for him. He’s given me a mandate to do so… I will talk to him frequently and we will talk about the major issues confronting this company. He has asked me to run the show and that’s what I intend to do.
Q: Any more executive changes in store? MTV Networks chairman and CEO Judy McGrath staying?
A: I’ve spoken with her. I’ve actually had a lot of phone calls. I just stepped out with her for a few minutes where we hugged. I’ve know Judy for about 20 years. We have a long history together. One of the reasons why I love taking this job is so that I can come back and work with Judy and her team. It’s an exciting and wonderful group of people. I believe in what they’re doing. I think it’s a change for everyone. It’s a change for someone they know and I think they’ll be excited for what’s ahead for all of us.
Q: Will Judy stay?
A: I’m assuming she’ll stay. She’s running MTV Networks. And like I’ve said, all the conversations have been positive. She said she would help in any way she can. I look forward to working with her.
Q: Given that you both spent the 5-plus years in the private equity sector, will mergers and acquisitions be part of your focus in your new role?
A: I’m not here to do big deals. I have done large mergers and acquisitions in my background. But this is really about executing a business strategy… I think we will primarily invest internally and develop new businesses and new ideas. But we will also reach out to early-stage companies. We’ve made a few smart, small-sized acquisitions. We will look for those early opportunities. Tom (Dooley, the newly appointed chief administration officer) and I can put in place systems to help us identify those opportunities earlier… It’s not just about putting in money.
Q: How would you consider YouTube. Is that early stages enough?
A: I want to identify companies much earlier… There are names we’ve seen that nobody is talking about yet. I want to focus on them. That’s the smart way to invest.
Q: Would you consider running the company privately?
A: No
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2 comments so far
Thanks for posting the interview. I like the aggressive “get to the issues” approach (that sure is a good way to hit with the first question). Wouldn’t it be good if this was the style of more interviews and not the back-stroking ego-massaging format that way too many of us are used to…
- Posted by Nic FultonVery good interview, Ken. I have always wondered why MTV has not been more commercially tuned to the Internet. It could have done wonders. Especially in Europe and Asia where broadband+population below 25 is a great combo.
Just one point. End of the day Viacom is a listed company. Would appreciate couple of questions on financials. Is the company happy with its ROIC? Is it raising its hurdle rate? What else can it do to improve its ROE etc. end of the day, some readers of your articles are also investors. regards.
- Posted by Arindam Nag