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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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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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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Sometimes divorce is better than marriage. We found out that bigger is not necessarily better.
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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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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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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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The quarter was fuelled by double-digit ad sales growth across the board, spurred by such ratings triumphs as CBS's 'Survivor,' which generated significant prime-time audience gains at CBS, and MTV's 'Video Music Awards,' this year's highest-rated cable entertainment program.
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We are extremely fortunate to have John, a top-notch executive with more than 25 years of experience in the service-oriented retail business, as the new leader of Blockbuster Entertainment,
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Li is clearly a pioneer in bringing innovative partnerships to the Chinese people.
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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,