Sumner Redstone News on Daylife

Sumner Redstone Defeats Nephew in Court

Wed, 02 Dec 2009 15:30:18 GMT

Judge rules against Michael Redstone over shares of grandfather's National Amusements. On Friday, AOL cut 2,500 jobs ahead of its announced Dec. 9 spin-off from Time Warner. And on Sunday, it previewed a new brand identity: Aol. Not AOL.
Source: The Wrap

Sumner Redstone prevails in latest family feud

Tue, 01 Dec 2009 19:49:50 GMT

Michael and the trustees of his shares originally filed a suit in 2006 alleging that he had been undercompensated for selling his shares in Redstone's privately held National Amusements back to the company in 1984 for $15 million.
Source: Los Angeles Times

A final farewell to the worst deal in history

Sat, 21 Nov 2009 21:22:47 GMT

It was an auspicious occasion, the business titans of the West standing shoulder to shoulder at the dawn of a new century.
Source: The Telegraph

Sony Pictures To Market & Distribute CBS Films Overseas & Home Entertainment

Wed, 18 Nov 2009 05:21:22 GMT

The only interesting part of this story is that now CBS Films will compete with Paramount films. Look what Sumner Redstone's dunderhead decision to completely separate them into public companies has wrought.
Source: Deadline Hollywood Daily

Broadcast pioneer NBC prepares for cable takeover

Sat, 14 Nov 2009 15:51:07 GMT

Eight decades after pioneering the concept of broadcasting, NBC is on the verge of a startling move that illustrates broadcast television's decline.
Source: Fresno Bee

Bewkes revels in dismantling

Fri, 13 Nov 2009 21:46:12 GMT

Jeffrey Bewkes can't wait for the day when Time Warner is evaluated strictly as a content company. As Sumner Redstone did with Viacom, Bewkes has steered Time Warner into de-consolidation mode in the past few years.
Source: Variety

Disney's Shanghai Park Won't Mean Breach of China's Media `Brick Wall'

Sun, 08 Nov 2009 20:24:49 GMT

Nov. 9 (Bloomberg) -- Walt Disney Co.’s planned theme park in Shanghai will do little to help open China’s media industry to overseas companies as the communist government restricts films, television and the Internet, analysts said.
Source: Bloomberg.com

Spate of 3Q Investor Calls Paint Building TV Marketplace

Sun, 08 Nov 2009 18:23:43 GMT

CBS Corp. executive chairman Sumner Redstone got his company’s third-quarter earnings call off to a portentous start, telling investors, “the light at the end of the tunnel continues each day to get brighter.” In past quarters, that beam would have...
Source: MediaWeek

Quoted in 'Redstone scrambles to pay debt, salvage empire'

Fri, 16 Oct 2009 04:21:29 GMT

said in China Post:

This is a smart strategy for Sumner Redstone. He bought time from his banks during the credit crunch by creating an auction process for the theaters ... Since then, the public equity markets have rebounded faster than the credit markets, so he's selling equity to repay debt rather than selling his theaters at depressed prices where credit remains tight.

Photo from Getty Images

Tue, 23 Jun 2009 03:25:32 GMT

LOS ANGELES, CA - JUNE 22: CEO of Viacom Sumner Redstone (L) and CEO of Paramount Studios Brad Grey arrive at the premiere of Dreamworks' 'Transformers: Revenge Of The Fallen' held at Mann Village Theatre on June 22, 2009 in Los Angeles, California.

Photo from Getty Images

Mon, 22 Jun 2009 16:55:00 GMT

LOS ANGELES, CA - JUNE 22: (L-R) Director Michael Bay, CEO of Viacom Sumner Redstone, and CEO of Paramount Studios Brad Grey arrive at the premiere of Dreamworks' 'Transformers: Revenge Of The Fallen' held at Mann Village Theatre on June 22, 2009 in Los...

Sumner Redstone's not about to give up control

Thu, 19 Oct 2006 20:53:46 GMT