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Viacom announced this morning that the longtime CEO of MTV Networks, Judy McGrath, 58, has stepped down, and that her position will not be replaced.
"We will all miss Judy enormously, but we respect her decision and understand her desire to leave at the very top of the game," Viacom president and chief executive officer Philippe Dauman said in a statement. "The networks under her direction are rapidly expanding to new platforms and reaching new creative and ratings milestones, all under the able guidance of experienced and talented management teams.