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Peter Bart: Sumner Redstone Wanted To Champion Movies, But His Lust For Power Made Him A “Corporate Monster”
From the outset, Sumner Redstone was a curiosity.
A cluster of power players 50 years ago were suddenly bidding for control of Hollywood's revered movie studios. Competition was intense but most of the bidders were not even “movie” people. In fact…
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By Peter Bart
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4 Comments Comment on Peter Bart: Sumner Redstone Wanted To Champion Movies, But His Lust For Power Made Him A “Corporate Monster”
Les Moonves Lies, Shari Pushes, Philippe Dauman Falls, Sumner Steals His Grandson’s Girlfriend And Other Tales In New Book On The Redstones
As Paramount Global prepares to report quarterly earnings Thursday, with CEO Bob Bakish presiding and Shari Redstone happily ensconced as non-executive chair, a new book is bringing forth some interesting (and at times lurid) revelations about the company's tortuous journey.
Unscripted: The Epic Battl…
Sumner Redstone’s Mogul Swashbuckling Typified A Bygone Corporate Media Era
The reminders came often from Sumner Redstone, self-made architect of a vast media empire.
"Viacom is me," he once told Fortune magazine. "I'm Viacom. That marriage is eternal, forever."
“I’m in control!” he chided Mel Karmazin in a nationally televised news conference as the executive tried to outline his vision for…
Sumner Redstone Dies: Giant Of The Media World Was 97
Sumner Redstone, an imposing industry figure who built a business empire including Viacom, Paramount Pictures and CBS out of a regional chain of movie theaters, has died at the age of 97.
National Amusements, the controlling shareholder of ViacomCBS, confirmed the news Wednesday morning.
“It is with great sadness that…
National Amusements Reaches Deal With Lenders, Won’t Sell ViacomCBS Stock Or Pledge Additional Shares
The Redstone family holding company National Amusements (NAI) said it’s reached an agreement with its lenders to amend its credit facility after a debt covenant breach last month caused by a drop in the stock price of ViacomCBS.
NAI said it will now have a revolving facility of $125 million and ample liquidity, in…
Peter Bart: Viacom And CBS Teeter Toward Merger With Their Master Dealmaker On The Sidelines
The meetings are conducted with the secrecy of a national security briefing. Attendees pledge not to disclose deliberations. Attorneys steadfastly stonewall reporters who try to probe the proceedings. And no one ever alludes to the fact that there is a ghost in the room.
At stake is a $30 billion merger of two revered…
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By Peter Bart
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MySpace Loses 12 Years Of Uploaded Music Due To A Server Issue
MySpace, which was once the most trafficked website on the internet, has admitted that some 50 million user-uploaded songs as well as other files have been lost due to a server malfunction.
Concern has been mounting on Reddit and on social media over the past year as users who kept their files on MySpace started…
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By Dade Hayes
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CBS Settles Shareholder Suit Over Sumner Redstone’s Pay For $1.2 Million
CBS has settled a shareholder lawsuit that claimed chairman emeritus Sumner Redstone received millions in compensation despite the fact his health had deteriorated and he was no longer able to attend to regular company business.
The settlement (read the terms here), reached in mediation, is for $1.25 million, but…
Sumner Redstone & Ex-Companion Reach Multimillion-Dollar Truce Just Before Trial
With just days to go before everyone went to trial, Sunmer Redstone and Manuela Herzer have finally laid down their legal arms.
In a January 4 dated agreement announced today just before a scheduled hearing in downtown Los Angeles, representatives for the 95-year old media mogul and his former long-time companion now…
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Sumner Redstone Goes “Toxic”: Britney Spears’ Lawyer To Be Mogul’s Guardian
Looks like the once-fiercely independent Sumner Redstone is going to be under the guardianship of the same court-appointed lawyer who ran Britney Spears' affairs for years, a Los Angeles Superior Court judge ordered today in a dramatic hearing.
Judge David Cowan told a DTLA courtroom this morning that he is granting…
- Breaking
- Business
Peace In Our Time! CBS & National Amusements Officially End Lawsuit
After Sunday’s announcement that Les Moonves was out as CBS CEO amid claims of sexual harassment and the months-long legal battles between the company and the Redstone family-dominated National Amusements would end, the courtroom drama is now officially over.
“WHEREAS, the Parties have reached a settlement to resolve…
- Breaking
- Business
Post-Les Moonves CBS Begins To Take Shape As Exit Talks Advance
EXCLUSIVE: Talks remain fluid on ending the legal battle between CBS and top shareholder National Amusements as well as the decades-long reign of Les Moonves at the media company, but already a new corporate structure is coming into focus.
As Moonves and his advisors including lawyer Daniel Petrocelli field exit…
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