Sumner Murray Redstone (born Sumner Murray Rothstein; May 27, 1923) is a media magnate. He could be the majority owner and Chairman of the Board of the National Amusements theater chain. Based on Forbes by March 2014 he’s worth US $6.2 billion.
Buying a new business venture, he set his views on Viacom International, a firm which he’d already been purchasing stock in as an investment and was a spinoff of CBS in 1971 after the FCC ruled that television networks couldn’t syndicate programs following their network run. Viacom also possessed MTV Networks (previously called Warner-AMEX Satellite Entertainment), which possessed MTV and Nick. Additionally, other properties contained Showtime Networks (a similar pay-television network to HBO and Cinemax) and The Movie Channel. Viacom got MTV Networks in 1985 for $550 million from Steve Ross’ Warner Communications. (WCI purchased American Express’ share and after that sold the whole thing to Viacom, as they believed which they couldn’t make lots of funds in the enterprise as well as the prejudice of a studio possessing cable stations could be a conflict of interest. The studio’s position changed in 1995, when as Time Warner it purchased Turner Broadcasting.)
He was awarded a Star on the Hollywood Walk of Fame at 7000 Hollywood Boulevard in Hollywood, California on March 30, 2012.
Viacom, the media conglomerate that Sumner built, considered separating into two companies to revive its sagging stock price. [March 2005]
Endorsed US President George W. Bush for re-election in 2004, saying that "the reason was simple: Republican values are what U.S. companies need. I look at the election from what's good for Viacom. I vote for what's good for Viacom. I vote, today, Viacom." Viacon owns - among many other media outlets - CBS Television, which is claimed by conservatives, who accuse it of being part of "the liberal media", to slant its news coverage in favor of the Democratic party.
On August 22, 2006, in his capacity as Viacom chairman, he announced through the "Wall Street Journal" that Viacom's Paramount subsidiary was terminating its development dealt with Tom Cruise after 14 years. Redstone said the firm terminated its deal with Cruise due to the underperformance of Mission: Impossible III (2006) (which had been expected to gross $100-$150 million more than it did), which he attributed to Cruise's "bad behavior". Movie pundits were somewhat surprised by the announcement, as Cruise remains the top B.O. draw in North America and was Paramount's cash cow. Cruise's films reportedly have accounted for 32% of Paramount Pictures' revenues in the last six years, and he was named the Top Box Office draw for a record seventh time by Quigley Publications for the year 2005. As part of its machinations before severing its connections with Cruise, Paramount leaked to the press the information that the deal was worth $10 million annually; however, the development deal actually was for $3 million per annum. At the time of the announcement, Cruise and his advisers were considering Paramount's new offer of $2 million per year in development money when Redstone dropped his bombshell. The news gave rise to speculation that Paramount has run out of cash, as it reportedly has told other development partners with which it has deals to use their own cash for the rest of the year, with the proviso they will be reimbursed come 2007.
Was originally a lawyer for the U.S. Department of Justice before he left to join his father's theater chain, which evolved into National Amusements, the present-day parent holding company of Viacom.
Was recruited by Edwin O. Reischauer (a Harvard professor and future U.S. Ambassador to Japan) while an undergraduate student at Harvard University to decode Japanese codes during World War II.
He left Harvard University after only barely completing three years of study when he was recruited by Professor Edwin O. Reischauer (later a U.S. Ambassador to Japan) to decode messages of the Japanese during World War II. When he finished his tenure with the United States Army, the Harvard Corporation granted him his Bachelor's degree.
Has an autobiography, co-written with Peter Knobler, titled "A Passion to Win", ISBN 0684862247 (published by Simon & Schuster).
Originally attended Georgetown University Law School, but transferred to Harvard Law School and received his Bachelor of Laws degree from that institution.
Attended and graduated first in his class from the public prep school Boston Latin School (1940).
In 1979, he survived a Boston hotel fire with burns over half his body by clinging to a third-floor window with his severely burned right hand until firefighters could reach him. His right arm hangs loosely, and the hand is gnarled with purplish skin.
Received his Bachelor of Arts degree (1944) and his Bachelor of Laws degree (1947) from Harvard University.
Has two children: Brent Dale Redstone and Shari Ellin Redstone.
Chairman of CBS Corporation and Viacom.
He owns the Showcase Cinemas theater chain.
Oscorp Board Member (uncredited)
The Kid Stays in the Picture
The American Cinematheque Tribute to Jerry Bruckheimer
The Men Who Built America
TV Mini-Series documentary
Himself - Majority Owner, Viacom & CBS
TV Series documentary
2003 MTV Movie Awards
Nightline Up Close
Award shared with
Star on the Walk of Fame
Walk of Fame
On March 30, 2012. At 7000 Hollywood Blvd.
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