An activist investor has addedย Viacom to his hit list, and he’sย seeking nothing less than a complete overhaulย of every position of power.
A small investor in Viacom, Eric Jackson of New York hedge fund SpringOwl Asset Management, called for the resignations of Viacom’s chairman Sumner Redstone, President and CEO Philippe Dauman and the entirety of Viacom’s board, in a 99-slide presentation Tuesday.
He also advocated for the entertainmentย giant to push into digital subscription channels, cut $400 million in operating costs, investigate a merger with cable rival AMC Networks and consider alternatives for movie studio Paramount, be that a partnership with the likes of Amazon or Alibaba or an outright sale of the studio.