The hedge funder who published a 99 page report to shake up Yahoo just dropped another bombshell on a huge target
For his last target, Yahoo, he strongly suggested the company can its CEO, Marissa Mayer.
And now he's got a new target.
Jackson is calling for change at Viacom, the American media conglomerate that owns Nickelodeon, MTV, Paramount Pictures and more.
In this presentation, he argues that the company's complacence is the reason why Viacom's stock is trailing its peers and in the midst of a lost decade.
Sumner Redstone, the company's 92 year-old CEO known for eccentric behavior, has stacked the board with 11 loyalists with no accountability, Jackson argues. The result is that the company has totally missed the digital-media revolution and there is a "creatively bankrupt culture" at the firm.
Check it out below.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver