Sumner Redstone

Sumner Redstone's Many Gigs: Viacom Chairman, Girl-Band Promoter, Leak Plugger!

Peter Kafka in Media on July 20, 2010 at 5:22 am PT

The Viacom chairman doesn’t like a story the Daily Beast ran about his infatuation with a “scantily clad girl group,” and he wants to know who leaked it. “You will be well-rewarded and well-protected,” he promises reporter Peter Lauria. Hear the voicemail for yourself.

Viacom Gets Into Social Games: When Do We See JerseyShoreville?

Peter Kafka in Media on July 8, 2010 at 5:57 am PT

Viacom wants in on the social game market, and it’s going to try buying its way in. The company has picked up Social Express, a 10-person start-up founded by Zynga vets in 2009, so it can build out games based on its shows.

Oh My God! They Still Haven’t Deposed Kenny!

Peter Kafka in Media on January 4, 2010 at 1:20 pm PT

Yup, Viacom and Google are still locked in a high-stakes court battle over YouTube, copyright law and money. Which means they’re finally getting around to deposing star witnesses like Jon Stewart and Stephen Colbert. The “South Park” dudes appear to be acting out, however.

FATALITY!

John Paczkowski in News on February 12, 2009 at 3:39 pm PT

It was inevitable, really. With $150 million in debt coming due Feb. 19 and not nearly enough cash on hand to pay it off, Midway, the sinking ship of a game publisher responsible for Mortal Combat (and little else), has filed for bankruptcy.

Wall Street Beats Up Sumner Redstone, Rupert Murdoch: Cuts Estimates for Viacom, News Corp.

Peter Kafka in Media on January 15, 2009 at 7:24 am PT

You don’t need a particularly good crystal ball to foresee that big media are in for a bad year (at least). But Wall Street singled out Sumner Redstone’s Viacom and Rupert Murdoch’s News Corp. for special treatment this morning, by whacking estimates for the next few quarters. The short story: The lousy ad market will be even worse than people think.

Sumner Redstone’s Black Friday Sale: Unloads Midway Games for Spare Change, Tax Benefit

Peter Kafka in Media on December 1, 2008 at 4:05 am PT

You think you got a good deal on an HDTV last week? Talk to Mark Thomas, who just picked up videogame company Midway games for 99 percent off on Friday. The seller: Sumner Redstone, who is desperately trying to sell off everything except his shares in CBS and Viacom in order to restructure a looming debt load.

Wall Street to Sumner Redstone: Please Sell Your Viacom, CBS Shares and Get It Over With

Peter Kafka in Media on November 24, 2008 at 11:23 am PT

The founder and chairman of CBS and Viacom says he won’t sell shares in his company to pay off his creditors. But no one believes that. But there doesn’t seem to be any alternative. Redstone’s National Amusements holding company has $1.6 billion in debt, $800 million of which comes due next month. Best to get it over with now, says analyst Rich Greenfield.

More CEO Choices for Yahoo: Freston, Jordan, Bonnie and Two Rosenblatts!

Kara Swisher in News on November 19, 2008 at 12:00 am PT

BoomTown might have been remiss in my post yesterday on top candidates for the Yahoo CEO job, in the wake of news that Jerry Yang was stepping down, by leaving out several key possibilities. Yesterday’s roster included News Corp.’s Peter Chernin, Google’s Tim Armstrong, Kevin Johnson of Juniper Networks and also two Yahoo board members, among others. So here is an addendum to my initial list–all of whom are Yahoo outsiders, the likely choice versus more tarnished insiders.

Voices

Is Sumner Redstone Planning a Rummage Sale?

Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily in News on November 12, 2008 at 3:02 pm PT

National Amusements, media mogul Sumner Redstone’s holding company, is in need of cash. Pali Research analyst Richard Greenfield sees that having any number of implications over companies in which Redstone holds interest, including Viacom, Midway Games, and WMS Industries. Greenfield notes that Redstone has no intention of selling CBS or Viacom shares, but that he “may no longer have a choice.”

Viacom: No Layoffs Yet. But No Hiring, Parties, Either.

Peter Kafka in Media on November 4, 2008 at 4:45 pm PT

A rumored Election Day mass firing doesn’t materialize. But there will be plenty of budget-tightening at Sumner Redstone’s cable networks.