Viacom Names New Boss For Blockbuster

Viacom Inc. hopes veteran retail executive John Antioco can turn its video rental business into a financial blockbuster after winning raves from the boss for his brief tenure leading Taco Bell restaurants.

Viacom announced Tuesday that it has hired the 47-year-old Antioco as chairman and chief executive of its Blockbuster Entertainment division, which operates nearly 6,000 music and video stores worldwide.

He succeeds Bill Fields, a former Wal-Mart Stores executive hired with great fanfare about a year ago, who resigned in April.

The chain’s profits have fallen as sales growth has slowed.