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Sumner Redstone Profile, Biography, About

  • *Biggest deal for Viacom since split from CBS. April 30- U.S.-based Viacom Inc said on Thursday it would buy British TV broadcaster Channel 5 from media baron Richard Desmond for $760 million as a keystone to develop its worldwide presence.

  • April 30- U.S.-based Viacom Inc said on Thursday it will buy British TV broadcaster Channel 5 from media baron Richard Desmond for $760 million as a keystone to develop its worldwide presence.

  • UPDATE 2-Google, Viacom settle landmark YouTube lawsuit Tuesday, 18 Mar 2014 | 11:12 AM ET

    NEW YORK, March 18- Google Inc has settled a landmark copyright lawsuit in which Viacom Inc accused the Internet search company of posting its programs on the YouTube video service without permission.

  • 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
    The old adage says to never do business with family. Whether negative personal feelings seep into business dealings or vice versa, keeping business and personal matters separate has almost always proven difficult, but especially when it comes to family. And when the business is large, the disputes tend to be as well. And so does the publicity.Here, we look at some of the most famous family business feuds of the last century. From the break up to the make up and everything inbetween, click ahead

    Here, we look at some of the most famous family business feuds of the last century. From the break up to the make up, 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.

  • National Amusements to Sell Shares of Viacom, CBS Wednesday, 14 Oct 2009 | 9:01 AM ET

    Media mogul Sumner Redstone's holding company, National Amusements, said Wednesday it is selling a portion of its stake in CBS and Viacom to pay off its debts.

  • Looking Back At 2008 As We Head Into 2009 Friday, 2 Jan 2009 | 9:29 AM ET

    I've made my predictions for 2009, so It only seems appropriate to look back at the predictions I made a year ago. The world has been transformed by the financial crisis over the past year, so I have to say I'm pleasantly surprised by how much I actually got right, and how much continues to seem to be true.

  • Redstone's Christmas Gift: Extended Debt Deadline Monday, 22 Dec 2008 | 12:52 PM ET
    Sumner Redstone

    National Amusements is weighing selling its theater chain to generate the cash to pay its debt, but Shari is opposing the sale of the theaters, pushing Redstone to consider selling other assets.

  • Sumner Redstone's Next Step Is Juggling Debt Tuesday, 2 Dec 2008 | 1:53 PM ET
    Sumner Redstone

    Sumner Redstone has to repay $800 million in debt by December 19. With just a few weeks left to go, he's in the midst of negotiations to restructure the $1.6 billion in debt held by his private National Amusements, which Redstone's daughter Shari Redstone runs.

  • Sumner Redstone's Options and Viacom's Earnings Monday, 3 Nov 2008 | 1:05 PM ET
    Viacom Earnings

    Wall Street will hear Viacom's earnings after the bell, but that's not the only reason Chairman Sumner Redstone is in the spotlight.

  • Sumner Redstone's Marital Split Wednesday, 22 Oct 2008 | 10:35 AM ET
    Sumner Redstone

    Sumner Redstone, the 85-year-old chairman of CBS and Viacom, is filing for divorce from his wife of five and a half years, Paula Fortunato.

  • CBS Earnings Preview: Hoping for Good Reception Monday, 28 Apr 2008 | 1:52 PM ET
    CBS

    Ratings could be better, so could the economy and advertising spending. What is CBS doing to halt the tumble in it stock price? Stay tuned.

  • Paramount Ready to End Movie Sales to Showtime Monday, 21 Apr 2008 | 1:39 PM ET

    Paramount said it would join forces with two other studios, MGM and Lionsgate, to introduce a premium channel and video-on-demand service beginning in the fall of 2009