MTVN’s McGrath: No Major Digital Acquisitions This Year; Hirschhorn Can Redirect MySpace
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MTV Networks (NYSE: VIA) CEO Judy McGrath says the Viacom unit’s organic growth is “great,” despite its continued signs of weakness as detailed last week in parent company Viacom’s Q4 earnings. The company was hit by the soft ad market as well as lower sales of Rock Band bundles. In a Q&A with AdAge, McGrath defends the brand’s strengths and touts its revamped logo. She also talks up MTVN’s Addicting Games as an example of a terrific acquisition, but says that she doesn’t expect any major purchases in 2010. Instead, MTVN is looking for partners, not new subsidiaries.
Speaking of acquisitions, when asked about MySpace’s current turmoil, McGrath avoids noting that the company may have dodged a bullet when it failed to buy the social network. Instead, she praises former MTVN digital head Jason Hirschhorn as the best person to help recharge MySpace in his new duties as co-president in the wake of CEO Owen Van Natta’s ouster last week. “If anyone can figure out the direction for MySpace, [Hirschhorn] will. I always thought it was a great brand and acquisition, I look forward to seeing what it becomes.”
SEE ALSO: Viacom Profits Triple, As Ad Declines Slow; Lower Rock Band Sales Pull Down Revs
Posted In: Advertising, Entertainment, Media & Publishing, TV, Cable & Telecom, Social Media, Companies, News Corp., Fox, Fox Interactive Media, MySpace, Viacom, MTV, judy mcgrath
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