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
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
challenges continuing economic light overall performance quarter recovery second slow turned
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,
building deliver merger others ready second starting supposed value
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.
advertising benefit cable continue market quarter ratings second strong vibrant
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.
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.
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.
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.
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,