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Sumner Redstone

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  • 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.

  • 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

  • Ever since media mogul Sumner Redstone split Viacom and CBS into two separate companies (he's chairman of both), they've become increasingly competitive. And just this Sunday, Viacom's Paramount Pictures studio said it's no longer going to distribute movies to CBS' Showtime.

  • Rupert Murdoch

    Rupert Murdoch's media empire is shaking up the management structure, and putting son James Murdoch in a bigger job that sets him up to succeed his dad. Here's the news: 34-year old James Murdoch was appointed head of Europe and Asia, and replacing his dad as chairman of BSkyB, where until now he was CEO. So, yeah, James is really young, but his experience sets him up for this job quite well.

  • CBS And Viacom: What Will Sumner Redstone Do? Tuesday, 31 Jul 2007 | 12:49 PM ET

    CBS announced second-quarter earnings that disappointed on the top line, beat expectations on the bottom line, and landed flat with growth-hungry Wall Street. Revenue disappointed--down 3% to $3.37 billion on a loss of TV revenue from shutting down UPN and the timing of the NCAA basketball tournament.