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McGrath oversaw a portfolio of media brands in her position, including Nickelodeon, Comedy Central, TV Land, VH1, CMT, Spike and MTV itself. The executives in charge of those units will report directly to Viacom president and CEO Philippe Dauman going forward.
Dauman's salary increased 40% to $3.5 million in 2010, according to papers filed with the Securities and Exchange Commission. We wonder whether he'll receive a second raise after assuming McGrath's duties in addition to his existing work.
"We will all miss Judy enormously, but we respect her decision and understand her desire to leave," Dauman said in a statement. "We are confident that Viacom won't miss a beat and will flourish."