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Sumner Redstone

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  • Media CEOs dominate ranks of top-paid executives Tuesday, 26 May 2015 | 6:00 AM ET

    The best-paid chief executive of a large American company was David Zaslav, head of Discovery Communications, the pay-TV channel operator that is home to "Shark Week." Les Moonves, of CBS, held on to second place in the rankings, despite a drop in pay from a year earlier. The remaining four CEOs, from entertainment giants Viacom, Walt Disney, Comcast and Time Warner, have...

  • May 20- Media company Viacom Inc, still struggling to turn around advertising declines in the United States, raised its quarterly cash dividend more than 20 percent on Wednesday. Viacom, which owns MTV, Comedy Central and Nickelodeon, has for the past several quarters been hit by declining ratings and changing TV viewing habits, including the dumping of pricey...

  • UPDATE 1-Viacom raises dividend by 7 cents to 40 cents Wednesday, 20 May 2015 | 3:15 PM ET

    May 20- U.S. media company Viacom Inc raised its quarterly cash dividend by 7 cents to 40 cents per share amid investor criticism over high executive pay. Viacom, which owns MTV, Comedy Central and Nickelodeon, has been struggling for the past few quarters because of declining ratings and changing TV viewing habits, including the dumping of pricey cable...

  • Viacom raises dividend by 21 pct to 40 cents/shr Wednesday, 20 May 2015 | 2:25 PM ET

    May 20- Viacom Inc said it raised its quarterly cash dividend by 21 percent to 40 cents per share from 33 cents. Viacom said the increase will take effect beginning with the company's next quarterly dividend, payable on July 1. The company, which owns MTV, Comedy Central and Nickelodeon, has been struggling over the past several quarters because of declining...

  • BOSTON, May 12- Investors in some top U.S. media companies have had a rough ride as their shares have lagged the rest of the market. The CEOs of 11 major media companies were given median compensation of $32.9 million for 2014, much higher than any other industry group in the Standard& Poor's 500 index, according to regulatory filings posted in the first four months...

  • May 7- Sumner Redstone, the 91- year-old owner of Viacom Inc and CBS Corp, said on Thursday the decision on who will succeed him as chairman of both media companies has not been made and that he is still in charge. Redstone controls about 80 percent of the voting shares in CBS and Viacom through a holding company, National Amusements. Viacom CEO Philippe Dauman and...

  • April 30- Viacom Inc reported better-than-expected quarterly profit on Thursday though the media company is still struggling to turn around advertising declines in the United States. Viacom, the owner of MTV, Comedy Central and Nickelodeon, has been challenged over the past several quarters because of drops in Nielsen ratings and changing TV viewing habits,...

  • April 30- Viacom Inc, owner of Paramount Pictures and cable channels Comedy Central, MTV and Nickelodeon, reported an unexpected fall in quarterly revenue as weak cable ratings depressed income from advertising in the United States. Viacom, controlled by billionaire Sumner Redstone, said domestic advertising revenue fell 5 percent in the second quarter...

  • April 7- Shares of MTV owner Viacom Inc slipped on Tuesday, a day after the company hit the pause button on a $20 billion share buyback program and announced slew of restructuring steps that will result in a charge of $785 million. Viacom is struggling to adjust to shifting viewing habits as people ditch pricey cable subscriptions in favor of video streaming...

  • Feb 5- CBS Corp Chief Executive Leslie Moonves is discussing ways to buy out the broadcaster's controlling shareholder, National Amusements Inc, ahead of a potential deal with Viacom Inc, the New York Post reported, citing sources. Moonves believes that a merger with Viacom will leave him in an inferior position versus Viacom Chief Executive Philippe Dauman...

  • Megamergers in focus as TWX, Fox report earnings Tuesday, 5 Aug 2014 | 11:48 AM ET
    The Time Warner Center in New York City.

    With earnings from Time Warner and Twenty-First Century Fox this week, investors will be listening for what the reports mean for a potential deal.

  • UPDATE 2-Sirius XM CEO Mel Karmazin to step down Tuesday, 23 Oct 2012 | 10:36 PM ET

    *Karmazin to step down on Feb. 1, 2013. Oct 23- Sirius XM Radio Inc Chief Executive Mel Karmazin will step down in February, a move that comes at a time when media mogul John Malone's Liberty Media Corp is trying to wrest full control of the satellite radio broadcaster.

  • CBS chief Moonves gets another signing bonus Thursday, 18 Oct 2012 | 9:17 PM ET

    NEW YORK-- Two years after granting CEO Leslie Moonves a bundle of stock options as a bonus for signing a long-term contract, CBS Corp. is giving him another signing bonus worth $22 million after extending his contract through the middle of 2017..

  • Moonves re-ups as CBS chief executive into 2017 Monday, 15 Oct 2012 | 8:00 PM ET

    NEW YORK-- Leslie Moonves has a new five-year contract with broadcaster CBS that extends his term as chief executive through June 2017. CBS said 63- year-old Moonves' salary will remain the same and he will still be eligible for an annual bonus and stock grants.

  • UPDATE 2-SiriusXM raises full-year subscriber forecast Wednesday, 10 Oct 2012 | 3:13 PM ET

    By Jennifer Saba and Peter Lauria. Oct 10- Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions. Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp's.

  • UPDATE 1-SiriusXM raises full-year subscriber forecast Wednesday, 10 Oct 2012 | 1:54 PM ET

    Oct 10- Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions. Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp's.

  • Colleges With CEO Alumni Tuesday, 20 Sep 2011 | 5:12 PM ET
    “If you don’t do better in school, you won’t get into a good college.”This stern warning is intoned by parents the world over, as they shake their heads over a disappointing report cards dotted with the Cs and Ds. While this admonition is surely true, many parents aren’t sure what constitutes a “good school.” Most believe it’s one with name recognition--and not much else.One way a school can distinguish itself is by the track record of its graduates. Indeed, what is a better gauge of a school’s

    CNBC.com looked at the top ten colleges and discovered which CEOs spent time there as underclassmen. Check out what we found.

  • Famous family business feuds Monday, 31 Jan 2011 | 8:51 AM ET
    British Chef Gordon Ramsay's personal life was splashed through the tabloids in late 2010 after a big argument with his father-in-law went public. Ramsay ended his professional relationship with Chris Hutcheson when he fired him as chief executive of his company, Gordon Ramsay Holdings, in October.Angry, Hutcheson is reported to have called Ramsay a "monster" who tried to turn his daughter, Tana, against him. Ramsay followed up with a public letter condemning Hutcheson, calling him a "dictator."

    We look at some of the most famous family business feuds of the last century. From the breakup to the makeup and everything in between.

  • My 'Beastly' Comments—Bring 'em On Thursday, 22 Jul 2010 | 2:36 PM ET
    Sumner Redstone

    Hoo boy did I stir up a hornet’s nest yesterday by having the temerity to question whether it was “right” to publish Viacom billionaire Sumner Redstone’s hilariously stupid voice message left for an enterprising reporter at the Daily Beast.

  • Sumner vs The Beast Wednesday, 21 Jul 2010 | 3:30 PM ET
    Electric Barbarellas

    Sumner Redstone, chairman of Viacom and CBS, is miffed by a story quoting anonymous sources depicting him as a lecherous casting-couch exec bent on forcing Viacom’s MTV to air “The Electric Barbarellas,” a reality show about a babefest band.