So this wasn’t in one of my guesses, but Tad Smith, the former CEO of RBI USA, is joining Cablevision (NYSE: CVC) as the president of local media, a new division within the cable/media conglom. Starting Sept 1, he will oversee Newsday Media Group, News 12 Networks and other interactive ventures still in development, and will report to COO Tom Rutledge. The new group is meant “to more effectively organize its local media and programming assets under one business unit.”
He left RBI USA earlier last month as the parent Reed Elsevier (NYSE: RUK) put some of the RBI USA books for sale.
I have heard that they are putting Smith in to help control Charles Dolan's son Pat. This would be a step in the right direction, except that Charles is still in charge of the whole operation.
Cablevision should start focusing on providing better cable service to its customers instead of spending so much time on all of these other endeavors.
Cablevision has been overstretching its company for a long time and now it is starting to show. Bringing in an expensive hired gun like Smith just shows its desperation.