Viacom Explores Division

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NEW YORK Les Moonves and Tom Freston, the co-chief operating officers of Viacom, may not have to compete for the top post at the media conglomerate. Under a plan the company is exploring with its board of directors, Viacom could be split into two publicly traded entities.

One company would consolidate Viacom’s high-growth businesses, such as MTV Networks, managed by Freston.

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