Sumner Redstone

Latest News

• Viacom Passes Up A Chance To Make Nice With Tom Freston

  Why is it so hard to forgive those you've wronged? Plenty of big media companies turned out Thursday night to honor Tom Freston at the Paley Center for Media's annual benefit dinner. Time Warner, Hearst and Sony were among those who purchased tables at the dinner, where Freston was awarded the Paley Prize for Innovation and Excellence. But one company was conspicuously absent: Viacom, his employer [...] more>>

  Jeff Bercovici, Forbes Staff

• Facebook Ownership Structure Should Scare Investors More Than Botched IPO

  Forget the stock price and worry about the company’s dual-class shares. [...] more>>

  Dan Bigman, Forbes Staff

• Buffett Still Buying American, Berkshire Takes Stake In GM

  Berkshire added automaker stake in first quarter, filing shows. [...] more>>

  Steve Schaefer, Forbes Staff

• CBS Eyes New Highs

  CBS [...] more>>

  Zacks.com, Contributor

• Dan Rather: Mark Cuban Has The Guts My CBS Bosses Lacked

  Don't make the mistake of thinking that Dan Rather's angry. Sure, almost eight years after the events that led to his forced departure from CBS News, and three years after his defeat in a $70 million lawsuit stemming from those events, he still has plenty to say about his former bosses, George Bush's National Guard service and the refusal of the former to back his controversial reporting about the [...] more>>

  Jeff Bercovici, Forbes Staff

• Billionaire Offspring on Boards Can Spell T-R-O-U-B-L-E

  

  Wal-Mart and News Corp., two publicly traded companies dominated by family members, are besieged by scandal and allegations of criminal activity. Is high-level involvement of family just an unhappy coincidence? [...] more>>

  Laurie Bennett, Contributor

• "I'm One Of The Most Underpaid Executives In The History Of Executive Payment"

  Sirius XM's Mel Karmazin ranks near the bottom of our bang-for-the-buck CEO list. But as Liberty Media grabs for control, he argues the worst is over for his tortured shareholders. Could he actually be right? [...] more>>

  Jeff Bercovici, Forbes Staff

• Sirius XM's Mel Karmazin: 'I'm One of the Most Underpaid Executives in the History of Executive Payment'

  Mel Karmazin doesn’t do understatement. Perched at the head of a conference table in Sirius XM Radio’s glassy Manhattan headquarters, sporting a red power tie and a sepia perma-tan that offsets his snowy hair, Karmazin considers, just for a moment, the question of whether the satellite broadcasting giant and its shareholders have been overly generous with their CEO ­during his seven years on the job. [...] more>>

  Jeff Bercovici, Forbes Staff

• Viacom's Redstone Calls Dauman "The Wisest Man He Has Ever Known"

  Sumner Redstone, pervaded the aura of Viacom's recent annual meeting. Dauman assured the empire builder at the company's annual meeting in New York that his creation, Viacom, was "relentless in knowing our audience," and that the television and movie giant's mantra was " A Passion To Win," the title of Redstone's autobiography, published some years ago. That "passion to win" had multiplied [...] more>>

  Robert Lenzner, Forbes Staff

• Media Decoder Blog: At Sun Valley Conference, Malone Belittles Karmazin, With Sirius XM in the Middle

  chocolate martinis and niceties typically exchanged at the annual Sun Valley media and technology conference, the billionaire John C. Malone evoked epic corporate battles of the past and had fresh fighting words for his long-time rival, Mel Karmazin. The latest [...] more>>

• UPDATE 1-Liberty's Malone says he should get premium in Sirius deal

  derided as "Darth Vader," is no stranger to battles with media titans, having faced off with News Corp's and IAC Corp's Barry Diller in the past. Malone said that he had dinner with FCC Chairman Julius Genachowski, but declined to comment on what they discussed, [...] more>>

• SpongeBob blackout looms for DirecTV subscribers

  a new deal with DirecTV to replace its current seven year contract after it expires. Viacom, controlled by billionaire Sumner Redstone, described the contract as "ancient by the standards of the ever-evolving media industry - which means that DirecTV has enjoyed [...] more>>

• Today's Market News To Trade On: 5 Stocks Moving On News

  Yesterday was 'Jobs Thursday' and the rest of the economic news did not give us a great idea of where the economy is going as it was all mixed. Today is 'Jobs Friday' and we have another opportunity to have the jobs numbers set the tone going forward. Ov [...] more>>

• Rupert Murdoch labels Scientology "very weird cult"

  he leaves his home in New York June 28, 2012. LOS ANGELES (Reuters) - News Corp chairman Rupert Murdoch took a swipe at Tom Cruise on Sunday in a series of tweets that labeled the Hollywood star a No. 2 or No. 3 person in the hierarchy of Scientologists, a [...] more>>

• Rupert Murdoch calls Scientologists 'creepy' and maybe 'evil'

  involvement with Scientology. Murdoch is not the first mogul to question Cruise's personal life choices. Viacom Chairman Sumner Redstone briefly cut ties to Cruise in 2006 after the actor got into a spat with "Today" host Matt Lauer over prescription medication [...] more>>

• Rupert Murdoch calls Scientologists 'creepy' and maybe 'evil'

  Media mogul Rupert Murdoch has put his two cents in on the news that Tom Cruise and Katie Holmes are getting divorced. "Watch Katie Holmes & Scientology story. Something creepy, maybe even evil, about these people," Murdoch, the chairman and chief execut [...] more>>