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
forward optimistic ready
We are ready to go forward and we are optimistic that the FCC and DOJ (endorsement) will come soon.
affect china chinese eight forward government media skeptical steps
The Chinese government is more skeptical about American media companies, but I have been going to China for eight years and I don't think it will affect Viacom. In China, it is always two steps forward and one step back.
belong large leverage longer
Large is no longer in charge, ... Leverage will belong to the nimble and the swift.
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
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.
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.
ability delivered enhanced greatly momentum move optimism promises reflects sustain
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.
almost destiny dictated seems separated siblings today
We are siblings separated in 1971 and are today reunited, ... This partnership seems almost dictated by destiny.
both bring businesses closely combining company core create generate infinity perfect performing record stronger superior time
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.
quarter record track year
Viacom's results for the first quarter put the company on a fast track for another record year in 2004.
fully market owned realized understand value wholly
We understand that the real market value of Blockbuster may never be fully realized as a wholly owned part of Viacom,
gone industry newspapers slow street sure wall
The reason we have not gone to newspapers is because its a slow growth industry and I think they are dying. I'm not sure there will be newspapers in 10 years. I read newspapers every day. I even read Murdoch's Wall Street Journal.
adapt changing recognize
We recognize the need to adapt to a changing competitive environment,