Viacom to Cut 250 Jobs at MTV Networks

Viacom's MTV Networks, operator of music-oriented television channels, said it will cut about 250 U.S. jobs to slash costs and invest more heavily in new digital businesses and new networks.

The company also said it is seeking new business models for its international television and online businesses.

"In the U.S., we will build resources against some new businesses -- our interactive properties and some of our new networks - and we will make reductions in others," MTV Networks Chairman and Chief Executive Officer Judy McGrath told employees in a memo today.

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