Sumner Redstone
Sumner Redstone
Sumner Murray Redstoneis an American businessman and media magnate. He is the majority owner and chairman of the board of the National Amusements theater chain. Through National Amusements, Redstone and his family are majority owners of CBS Corporation and Viacom. According to Forbes, as of September 2015, he was worth US$5 billion...
NationalityAmerican
ProfessionBusinessman
Date of Birth27 May 1923
CountryUnited States of America
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We've delivered on our promises and greatly enhanced shareholder value. This move reflects our optimism in the company's ability to sustain its momentum in 1999 and beyond.
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We are siblings separated in 1971 and are today reunited, ... This partnership seems almost dictated by destiny.
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With both Viacom's and Infinity's core businesses performing at record levels, it is the perfect time to bring them more closely together, ... Combining Infinity with Viacom will now create a company that is financially even stronger and strategically even better positioned to generate superior returns.
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We have a pretty clear signal that we will be able to keep UPN.
forward optimistic ready
We are ready to go forward and we are optimistic that the FCC and DOJ (endorsement) will come soon.
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Viacom's results for the first quarter put the company on a fast track for another record year in 2004.
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We understand that the real market value of Blockbuster may never be fully realized as a wholly owned part of Viacom,
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The reason we have not gone to newspapers is because its a slow growth industry and I think they are dying. I'm not sure there will be newspapers in 10 years. I read newspapers every day. I even read Murdoch's Wall Street Journal.
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We recognize the need to adapt to a changing competitive environment,
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We have made a strategic decision that the future of Viacom lies in maximizing the value and potential of our core entertainment assets. The sale of our education, professional and reference publishing businesses will further refine that focus on software-driven entertainment, unlock the substantial value of these undervalued publishing assets for our shareholders and dramatically improve our capital structure.
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Paramount Pictures continued its remarkable run of box office hits in the second quarter with
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It is clear that... Viacom's businesses have inherently different growth characteristics and investment attributes that appeal to different types of investors,
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Large is no longer in charge, ... Leverage will belong to the nimble and the swift.
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Our job was to fix (Blockbuster). We've done that. Our job is to grow it now.