CBS Media Ventures President Steve LoCascio Announces Retirement; Replacement to Be Named Soon (EXCLUSIVE)

variety.com:

Michael Schneider Variety Editor at Large CBS Media Ventures president Steve LoCascio is retiring after more than three decades at the company — having first joined predecessor King World back in 1989.

LoCascio’s replacement will be named at another date. “If you had asked me when I started as controller of King World in 1989 what would the television business look like 30-plus years from then, I would never have guessed that ‘Wheel of Fortune’ and ‘Jeopardy’ would be the top two most-watched series on broadcast television (or that we’d even have to specify broadcast television) or that Oprah would have retired before me,” LoCascio quipped in a memo to employees. (“Wheel,” “Jeopardy” and “Oprah” were all originally distributed by King World, making the company one of the most successful syndicators in history, and leading to its acquisition by CBS in 1999.) “As many of you know, I have been contemplating retirement for quite some time,” he added. “After 34 years and many different iterations of this company (and many bosses), I have decided to pull the trigger and will be retiring.” In a follow-up note to employees, CBS president/CEO George Cheeks noted that LoCascio’s replacement would be revealed shortly, and he stressed that the exec’s departure should not be seen as a signal that the Eye’s stake in the syndie game has changed. “Please know that we are firmly committed to our valuable syndication business,” Cheeks wrote. “I’ll have more information for you very soon about new leadership at CMV.

In the meantime, please join me in toasting Steve’s tremendous career at CBS and wishing him much joy in his retirement.” In his memo, LoCascio also addressed concerns about how his departure impacts CBS’ syndication business:.