MTV, once the network of choice for young people, is in a rut. Ratings slipped five percent last year, advertising revenues were down three percent, and viewership for last summer's Video Music Awards dropped 18 percent.The channel's parent company, Viacom, just laid off several top executives -- including producer and 28-year veteran Dave Sirulnick, who was one of MTV's last ties to its golden age.

 

Video: "Why Fewer People Want Their MTV"