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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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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The significant strengths of new Viacom to deliver consistent double-digit, bottom-line growth and the proven cash generation ability of CBS Corp. will underpin their performance and define their attractiveness to investors.
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I have read The New York Times, and I still say I saw nothing in it that would make me change my opinion.
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In the second quarter and beyond, we will continue to benefit from the combination of a vibrant advertising market and strong ratings at our cable networks.
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The Internet is a powerful way to make lots of money, ... But we are not going to buy Yahoo!.
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In the 21st century, large is no longer in charge.
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Consolidation was a necessary and positive trend in the evolution of these businesses. But we have entered a new era of rapid technological change and global competition. Bulk will not ensure success.
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The transaction should also enable us to retain the best people for each business and would provide incentives for the creation of shareholder value that are more closely tied to the businesses they run,
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Isn't that what a merger is supposed to be about -- building value for investors? ... While others are starting over, we are ready for the second act. ... We will deliver on our promises.
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Sometimes divorce is better than marriage. We found out that bigger is not necessarily better.
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I cannot visualize any disagreement that cannot be resolved by us.
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The Chinese government is more skeptical about American media companies, but I have been going to China for eight years and I don't think it will affect Viacom. In China, it is always two steps forward and one step back.
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The concepts of our shows that we've created here (in the U.S.) travel in China and around the world, even though the language is different,