A Look Back: Judy McGrath lives up to her BusinessWeek cover

Last year MTV Networks boss woman Judy McGrath graced a cover of Businessweek with the headline "Can MTV Stay Cool? How CEO Judy McGrath must remake her TV empire for a digital world". However there was no mention in the lengthy article of plans to axe a chunk of the work force in the remaking efforts. Guess that part was off the record. Judy McGrath is doing something alien to the start-from-scratch culture: seeking acquisitions and partnerships. MTV Networks last year bought companies like amateur short-film Web site IFILM Corp. and children's Web site Neopets, treasure troves with tens of millions of sticky users. IFILM just launched a show on VH1, and the Nickelodeon team is helping to design consumer products for Neopets. In January, McGrath announced a deal in which MTV is teaming with Microsoft Corp. to launch a music download service, URGE, later this year. Other forms of media are getting infusions, too, including the movie units at MTV (Hustle & Flow, Murderball) and Nickelodeon (Julia Roberts in Charlotte's Web, due out this year). And never mind the culture wars: McGrath continues to break new ground with channels such as gay-and-lesbian-themed Logo, which so far is seen in 22 millon homes, despite pushback from some distributors. Can MTV Stay Cool? [Businessweek] RELATED: MTV Nets terminating 250 staffers, memo says