As Viacom's businesses show signs of struggle, analysts told CNBC it's time for the behind-the-scenes drama to end.
"It's having an impact right now, all this noise," Barton Crockett, research analyst at FBR Capital Markets, told CNBC's "Squawk on the Street" on Friday. "This needs to end before the wheels fall further off the bus."
Viacom said Friday its fiscal third-quarter earnings will fall short of projections, as the company's film division struggled amid management turmoil within the company.
Sumner Redstone, the company's controlling shareholder, moved to fire CEO Philippe Dauman and four other directors from Viacom's board Thursday, in the latest in a string of disputes among the board. Meanwhile, Paramount's "Teenage Mutant Ninja Turtles" film franchise didn't perform as planned at the box office, the company told investors.
"There's no doubt that Viacom has been an underperformer," Crockett said. "What people are seeing here is you can have a better performance, I think, with better management. Certainly what's happening with the governance dispute right now didn't help."