Michael Wolf, COO MTV Networks quits
New York: Michael Wolf, chief operating officer, president, MTV Networks has left after 15 months in the job, and is latest senior Viacom Inc. executive to have done so.

Wolf is a former consultant who led the media practices at both McKinsey & Co and Booz Allen Hamilton before joining Viacom in 2005.

Wolf said he decided to leave because he had accomplished everything he set out to do at the cable network operating company.

Rumors have been doing the rounds for months in Viacom that Wolf would be fired, however, he said he had not been forced to resign and that his relationship with MTV Networks boss Judy McGrath remained friendly.
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EMI issues profit warning, fires top people
The London based music company, EMI has issued a profit warning for its music division, and has said its full-year revenue could decline by 6 per cent to 10 per cent on a constant currency basis.

EMI had poor sales in recorded-music in the fourth quarter of 2006, which continued into the New Year as compared with the same period last year.

EMI's market share dwindled to about 10 pc in 2006 from nearly 13 pc in 1998.

The company is also parting with top two recorded-music executives, following years of weak results and failed merger attempts.

EMI Music's chairman and chief executive Alain Levy and vice chairman David Munns are leaving the company with immediate effect. Eric Nicoli, executive chairman of EMI Group, will become chief executive officer of the group and take direct responsibility for managing EMI Music.

EMI has been slower than its competitors to implement companywide restructuring, and now that its merger plans have been put off indefinitely, the company may reduce its work force.
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