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
Sumner Redstone quotes about
both bring completed core economies entertainment fit fully greatly operations perfect scale spelling strategic television
Having completed a strategic refocusing on its core television business, Spelling is a perfect fit with Viacom's entertainment business. By fully integrating Spelling into the Viacom family, with the efficiencies and economies of scale we can bring to bear, both Spelling's and Paramount's operations will be greatly enhanced.
assets businesses capital core decision entertainment focus further future improve lies potential publishing reference refine sale strategic unlock value
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.
across ad audience cable entertainment gains growth music quarter ratings sales triumphs
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.
executive experience extremely fortunate leader retail
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,
bringing chinese clearly innovative pioneer
He is all over the lot. Li is clearly a pioneer in bringing innovative partnerships to the Chinese people.
appeal attributes businesses clear growth inherently investment types
It is clear that... Viacom's businesses have inherently different growth characteristics and investment attributes that appeal to different types of investors,
fix grow job
Our job was to fix (Blockbuster). We've done that. Our job is to grow it now.
box continued hits office paramount pictures quarter remarkable run second
Paramount Pictures continued its remarkable run of box office hits in the second quarter with
add adding advertising assets bring cable cbs company great king media mix networks outdoor powerful soon studio television together wonderful
Look at the assets we bring together, ... We bring together a great studio and the most powerful cable networks in the world. We add that to CBS network, CBS' wonderful television station, CBS Radio, CBS Outdoor Advertising and soon we're adding (syndication company) King World to it. There's no company in the world that has that mix of assets. This will be the fastest-growing media company in the world.
intention remains sometime split
Let me say it remains our intention to split off Blockbuster from Viacom sometime after the first of the year, ... Having said that, we will not give it away.
central chinese companies
Partnerships with Chinese companies are central to our long-term strategy.
becomes beginning fourth initial notion offering option others prior public quarter spin suggested
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.
belong large leverage longer
Large is no longer in charge, ... Leverage will belong to the nimble and the swift.
cable recognize strength
He was the first to recognize the strength of cable programming.