Sumner Redstone Quarter Quotations

Paramount Pictures continued its remarkable run of box office hits in the second quarter with

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.

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,

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,

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.

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.

Viacom's results for the first quarter put the company on a fast track for another record year in 2004.