Viacom Names Jim Gianopulos Chief Executive Officer Of Paramount Pictures Film Division

Viacom Inc. on Monday officially tapped former 20th Century Fox studio head Jim Gianopulos to run its floundering film business Paramount Pictures. It was reported last week that the studio was looking to bring in Gianopulos following the departure of former studio chief Brad Grey. Gianopulos will take the reins April 3 and will be tasked with getting Paramount Pictures back on track after a couple of years of disappointing box office performance. Paramount is a major fixture in the strategy Viacom's new CEO Bob Bakish laid out to help turn the company's different business segments around. Shares of Viacom's class B shares were up 2% intraday and have gained nearly 11% in the trailing 12-month period, while the S&P 500 index is up 15% during the same time frame.