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Media mogul Sumner Redstone to sell nearly $1 billion in stock, maintains empire

Oct. 14, 2009
Sumner Redstone's family-controlled firm, National Amusements Inc., this morning said it was selling nearly $1 billion in stock in CBS Corp. and Viacom Inc. to help retire the enormous debt that once threatened to upend the 86-year-old mogul's media empire -- and his legacy.
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Viacom/CBS chief predicts Leno failure

Viacom/CBS chief predicts Leno failure

LOS ANGELES, April 30 (UPI) -- Sumner Redstone, the executive chairman of Viacom and CBS, said he thinks Jay Leno's upcoming NBC prime time chat show will fail.

Redstone selling $400M Viacom, CBS stock

NEW YORK, Oct. 19 (UPI) -- U.S. theater chain owner Sumner Redstone is dumping his non-voting stake in Viacom and CBS Corp., analysts say.

Viacom's Redstone, daughter at odds

NEW YORK, July 19 (UPI) -- A major dispute reportedly has erupted between Viacom Chairman Sumner Redstone and his daughter, board member and heir apparent Shari Redstone.

Viacom head criticizes Tom Cruise

LOS ANGELES, Oct. 31 (UPI) -- The chairman of Viacom Inc., the U.S. parent company of Hollywood's Paramount Pictures, has blasted actor Tom Cruise for "embarrassing" his studio.

Redstone attacks FCC

WASHINGTON, Oct. 17 (UPI) -- Sumner Redstone, executive chairman of Viacom and CBS, accused U.S. regulators of censorship as he accepted an award from a First Amendment group in Washington.

Redstone's wife had a part in Cruise axing

LOS ANGELES, Aug. 25 (UPI) -- The wife of Viacom Chairman Sumner Redstone reportedly played a role in the actor's firing from Paramount Pictures this week, it was reported.

Viacom head tilts towards split

NEW YORK, May 27 (UPI) -- The head of Viacom Inc. says a decision on whether to divide the U.S. entertainment giant will be made by the end of next month.

Viacom may become two companies

NEW YORK, March 17 (UPI) -- Media giant Viacom, owner of CBS, may break into two public companies to help resolve its succession issue, the New York Times reported Thursday. The plan also would unravel years of empire building by Chief Executive Officer Sumner M. Redstone, the Times

Viacom to produce shows in China

SHANGHAI, March 23 (UPI) -- Viacom is closing in on a deal to produce and broadcast television shows in China, Forbes reported Tuesday.

Viacom head hints at buying EchoStar

NEW YORK, March 10 (UPI) -- A feud between media giant Viacom of New York and satellite broadcaster EchoStar may result in Viacom buying EchoStar.
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President Obama awards the Presidential Medal of Freedom in Washington
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President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch