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Steve LoCascio Retiring As President Of CBS Media Ventures Amid Restructuring That Combines Division With CBS News & Stations Under Wendy McMahon

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CBS Media Ventures President Steve LoCascio is retiring after 34 years at the company and its previous iterations as the division will become part of the portfolio of Wendy McMahon, named this morning as President and CEO of CBS News and Stations and CBS Media Ventures.

The consolidation is not surprising. LoCascio’s departure comes amid a seismic changes in the syndication business marked by a major contraction in first-run syndication, primarily in the talk shoe arena.

CBS Media Ventures and CBS TV Distribution’s top shows, Judge Judy, Dr. Phil and Rachael Ray, all ended their long runs in the last few years.

Judge Judy has charted a new path, with its reruns remaining a ratings leader. CBS Media Ventures’ roster includes legacy series Jeopardy!, Wheel Of Fortune, Entertainment Tonight as well as newer entries Hot Bench and The Drew Barrymore Show.

Read more on deadline.com
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