Sumner Wants To Split the Difference

Maybe because he can't decide which co-president to choose or maybe because the company's valuation is suppressed because of the mix of assets, but Sumner and Viacom's Board are considering splitting the company in tow, with one headed by Les Moonves and containing broadcast and outdoor ad businesses and the other headed by Tom Freston and containing the MTV Nets and Paramount properties. Apparently many key execs are unhappy with their stock options remaining underwater; not a reason for a fundamental corporate re-org, but I don't own any of the options.

Many on Wall Street are skeptical. I'm sure the employees are pondering their possible futures.