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WASHINGTON, Jan. 23 (UPI) -- Former Viacom President Terrence A. Elkes has died due to a malfunctioning heart valve, his family announced. He was 73.
Elkes, who died Friday, headed Viacom as it rose to prominence in the 1980s with purchases of MTV and Showtime. The company also made attempts to buy portions of MGM/UA Entertainment.
Elkes was instrumental in putting another important purchase together with the Movie Channel, to make it more competitive with Time Warner's Home Box Office, The New York Times reported.
Elkes became Viacom's president in 1978 after serving as their general counsel. Previously, he was vice president and general counsel for Parsons and Whitmore, a privately held paper mill company.
In 1987, JMB Realty bought stakes in Viacom and Sumner M. Redstone, who owned a chain of movie theaters, emerged as a suitor for the company, the Times reported. Redstone then replaced Elkes as president.
In his 50s at the time, Elkes moved on to start Apollo Partners, a firm specializing in entertainment investments.
He also initiated the Elkes Foundation, which has donated to his Alma maters, City College and the law school at the University of Michigan.
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