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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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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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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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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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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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.
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Partnerships with Chinese companies are central to our long-term strategy.
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Some have suggested that we spin off Blockbuster, which as many of you know becomes an option beginning in the fourth quarter of 1999. Others have suggested the notion of an initial public offering carve-out prior to the spin-off.