Bakish has now forcefully seized the initiative here in shifting focus from the traditional media company strategy of maximizing shelf space in the consumer media supermarket through a proliferation of cable channels. True, Bakish did not indicate the short-term elimination of cable networks (Viacom is also the owner of CMT, VH1, Epix, Logo, and a smorgasbord of other networks from MTVTres to Centric). The difficulty for life in the cable middle has hardly been limited to Viacom. NBCUniversal just recently announced the shuttering of its Esquire TV network, which never gained traction despite the link to the iconic men’s lifestyle brand. Last summer, Participant Media closed the millennial-focused cable network Pivot after an investment of more than $200 million.

Source: Forbes February 09, 2017 17:26 UTC