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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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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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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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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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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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 respect to the future, what I can tell you now is we are aware of and considering these and all of our options,
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Viacom turned in an outstanding performance in the second quarter of 2002, particularly in light of the continuing challenges of a slow recovery in the overall economic environment,
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Viacom's fourth-quarter performance is indicative of a new vitality at the company and the major strides we have made in 1997.
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Viacom's exceptional third-quarter results highlight the across-the-board strength of our company, ... In addition to the return to significant growth at Blockbuster, we continue to see outstanding performances at the Paramount studio and at the MTV and Showtime networks.
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Viacom is off to a strong start in 2000, paced by the continued outstanding performance of MTV Network, which turned in its fifth consecutive quarter of 20 percent-plus ad sales growth, and Showtime, which registered a 25 percent gain in (cash flow) for the first three months of the year,
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We are very optimistic on the rest of the year.
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Li is clearly a pioneer in bringing innovative partnerships to the Chinese people.
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We have a pretty clear signal that we will be able to keep UPN.