Sumner Redstone

  1. Viacom Stock Rating Cut by Analyst, Cites 'Ongoing Ratings Weakness'

    July 10, 2012 7:47 AM EDT UBS analyst John Janedis on Tuesday downgraded his rating on Viacom's stock from "buy" to "neutral" citing "concerns related to ongoing ratings weakness" at Nickelodeon and MTV. "While the stock is cheap&quo ...

  2. Viacom Increases Quarterly Dividend

    May 24, 2012 7:45 AM EDT Viacom said Wednesday (May 23) that its board has approved a 10 percent increase in its quarterly dividend to 27.5 cents per share from 25 cents. Viacom Launches New Blog The increase will take effect starting with Viacom's next quarterly div ...

  3. Sony Shares Hit 52-Week Low Amid Global Market Sell-Off

    August 05, 2011 7:56 AM EDT UPDATED: The stocks of entertainment conglomerates Walt Disney and Time Warner are now down for the year-to-date period, News Corp. closed at the same price as at the end of 2010, while CBS Corp. and Viacom remain ahead of their 2010 closing price ...

  4. Tom Freston, Fired From Viacom for Failing to Buy Myspace in 2005, 'Smiling' Over Sale

    June 30, 2011 4:07 PM EDT Six years ago, Myspace was the darling of the Internet, a fast growing company that many larger organizations were vying to make a crown jewel in their business. Rupert Murdoch and News Corporation won the race, acquiring the company in 2005 for $ ...

  5. Viacom Sues Cablevision over iPad Streams

    June 24, 2011 8:33 AM EDT NEW YORK - Viacom Inc sued Cablevision Systems Corp to halt what it called the unauthorized streaming of its programing on devices such as Apple Inc's iPad. The lawsuit was filed on Thursday in Manhattan federal court, one day after court doc ...

  6. Judy McGrath Left MTV the Day After 'Electric Barbarellas' Premiere -- Coincidence?

    May 05, 2011 6:45 PM EDT You may recall that last year, MTV Networks CEO/Chairman Judy McGrath -- who stepped down today after 30 years at the company - was engaged in a battle of the wills with Sumner Redstone over a reality show involving a scantily clad, all-female gro ...

  7. Viacom Promotes Robert Bakish to New International CEO Position, Network Focusing On Foreign Markets

    January 19, 2011 12:00 AM EST Viacom is looking to deliver on its hopes to further grow its international TV business. The company has promoted Robert Bakish to the newly created position of president and CEO of Viacom International Media Networks. He was previously president ...

  8. Viacom Sees Ad Upswing

    August 05, 2010 12:00 AM EDT Viacom said it is seeing a continued strengthening of the U.S. advertising market. While the economic recovery is coming only in fits and starts, "the overall advertising market continues to strengthen," president and CEO Philippe Dauman ...

  9. Sun Valley Confab Kicks Off

    July 06, 2010 12:00 AM EDT Entertainment industry power players have descended on Sun Valley, Idaho, for the annual post-July 4 tradition known as summer camp for moguls. Several hundred media and tech execs, financial types, agents, lawyers and assorted sports, entertainme ...

  10. Viacom, Time Warner Cable Strike Deal

    January 01, 2009 12:00 AM EST After running past the initial midnight deadline and into 2009, Viacom and Time Warner Cable reached a tentative deal to keep MTV Networks' 19 channels on the MSO's 13.3 million households nationwide. Although Viacom threatened to shut o ...

  11. Blackout Looms As Time Warner, Viacom Talks Stall

    December 31, 2008 12:00 AM EST Viacom Inc and Time Warner Cable remained at a standoff on Wednesday, but were hopeful that top executives would step in to resolve a dispute that threatens to prevent more than 13 million U.S. subscribers from seeing "Dora the Explorer" ...

  12. Viacom's Q3 Income Drops 37%

    November 04, 2008 12:00 AM EST A deteriorating television advertising market and movies that couldn't compete with last year's "Transformers" juggernaut caused Viacom on Monday to post third-quarter net income that fell 37%. Last year also benefited from a $ ...

  13. Redstone: Ads Will Pay The Way

    November 08, 2007 12:00 AM EST Viacom executive chairman and founder Sumner Redstone kicked off day two of the Media and Money conference in New York City today by providing three "insights" into the digital future for media companies. First, media companies must keep ...

  14. MTV Embraces Web Chaos To Regain Viewers

    March 07, 2007 12:00 AM EST MTV Networks, owner of the MTV and Comedy Central channels, is pushing a risky new Web strategy to win back young viewers from the likes of YouTube and MySpace. The network, which already has 150 Web sites in 162 countries, plans to build literall ...

  15. Viacom Demands YouTube Remove Videos

    February 05, 2007 12:00 AM EST Viacom Inc. on Friday demanded that Google Inc.'s online video service YouTube remove more than 100,000 video clips after they failed to reach a distribution agreement. Viacom said it sent a notice to YouTube on Friday morning asking the popu ...

  16. Freston Exits Viacom, Dauman Takes Over

    September 05, 2006 12:00 AM EDT Exec resigns after 26 years. Tom Freston, president/CEO of MTV parent Viacom, has resigned after 26 years service, the company's board of directors said on Monday (Sept. 4). In his place the board has appointed Philippe Dauman as president an ...

  17. Infinity Rebrands As CBS Radio

    December 14, 2005 12:00 AM EST In anticipation of parent Viacom's split into two separate companies, CBS Corp. has unveiled plans to rebrand its radio division as CBS Radio. Included are the company's 179 radio stations. CBS Radio In anticipation of parent Viacom’s sp ...

  18. MTV Networks Buys Neopets

    June 28, 2005 12:00 AM EDT As it continues to expand and strengthen its Web business, Viacom unit MTV Networks said June 20 it has acquired NeoPets, the operator of a fast-growing youth community on the Internet. NEW YORK (The Hollywood Reporter) -- As it continues to expan ...

  19. Viacom Board Approves Split

    June 21, 2005 12:00 AM EDT The board of Viacom Inc. has unanimously approved the split of the company into two separately traded entities, the entertainment giant said June 14. The split is expected to be completed in the first NEW YORK (The Hollywood Reporter) -- The board ...

  20. Viacom Board Approves Split

    June 14, 2005 12:00 AM EDT The board of Viacom Inc. has unanimously approved the split of the company into two separately traded entities, the entertainment giant said Tuesday afternoon (June 14). The split is expected to be co The board of Viacom Inc. has unanimously appro ...

  21. Moonves: CBS Would Benefit From Split-off

    June 07, 2005 12:00 AM EDT Viacom co-president and co-chief operating officer Leslie Moonves assured CBS affiliates at their annual conference here that the network stands to benefit should Viacom be split up into two entities LAS VEGAS (The Hollywood Reporter) -- Viacom co ...

  22. Viacom: Cable Split Could Occur In 2006

    April 26, 2005 12:00 AM EDT Viacom Inc. on April 19 said a split-off of its fast-growing cable networks and film studio from its broadcast networks could come as early as the 2006 first quarter, as its quarterly operating profit (Reuters) -- Viacom Inc. on April 19 said a sp ...

  23. Viacom: Cable Split Could Occur In 2006

    April 19, 2005 12:00 AM EDT Networks post 20% Q1 gains. Viacom Inc. on Tuesday (April 19) said a split-off of its fast-growing cable networks and film studio from its broadcast networks could come as early as the 2006 first quarter, as its quarterly operating profit rose on ...

  24. Viacom Posts $18 Billion Loss

    March 01, 2005 12:00 AM EST Viacom Inc. on Feb. 24 posted a massive quarterly loss after $18 billion in charges for writing down the value of its radio and outdoor advertising businesses in the face of a soft radio market and he NEW YORK (Reuters) -- Viacom Inc. on Feb. 24 p ...

  25. Infinity Ups Hollander; Sykes Shifts To MTV

    January 13, 2005 12:00 AM EST Viacom's Infinity Broadcasting has promoted president/COO Joel Hollander to chairman/CEO. The move has been widely anticipated, ever since reports began leaking that John Sykes would step down as Infi Viacom's Infinity Broadcasting has p ...

  26. Paramount Gets Touch Of Grey

    January 11, 2005 12:00 AM EST With a deal finally in place, Brad Grey, one of the entertainment industry's leading talent managers, is set to make the transition to studio head by taking over the top executive post at Paramount Pi (The Hollywood Reporter) -- With a deal f ...

  27. Viacom To Ramp Up China Presence

    September 24, 2004 12:00 AM EDT Sumner Redstone, chairman/CEO of MTV parent company Viacom, today (Sept. 24) unveiled a series of moves that will expand the group's presence in mainland China, including a strategic partnership with Sumner Redstone, chairman/CEO of MTV paren ...

  28. Viacom To Ramp Up China Presence

    September 24, 2004 12:00 AM EDT Sumner Redstone, chairman/CEO of MTV parent company Viacom, today (Sept. 24) unveiled a series of moves that will expand the group's presence in mainland China, including a strategic partnership with Sumner Redstone, chairman/CEO of MTV paren ...

  29. FCC Fines CBS Over Janet Incident

    September 22, 2004 12:00 AM EDT As expected, the Federal Communications Commission today (Sept. 22) officially issued a Notice of Apparent Liability for Forfeiture of $550,000 against 20 Viacom-owned CBS TV stations for "apparently As expected, the Federal Communications Co ...

  30. Viacom Ups CBS' Taub To Exec VP Operations

    August 25, 2004 12:00 AM EDT Viacom said yesterday (Aug. 24) that it has promoted Bruce Taub to the newly created post of executive VP of operations, as the entertainment conglomerate reshuffles managers under recently named co-p Viacom said yesterday (Aug. 24) that it has pr ...

  31. Viacom Reorganizing Operations

    July 29, 2004 12:00 AM EDT Viacom Inc. today (July 29) said the president of its Paramount Enterprises operation would leave the company and said it would reorganize some operations under newly appointed co-president Tom Fresto Viacom Inc. today (July 29) said the president ...

  32. McGrath Named MTVN Chairman/CEO

    July 20, 2004 12:00 AM EDT MTV Networks has promoted Judy McGrath to chairman/CEO. She was previously MTV Networks Group president, responsible for MTV, MTV2, VH1, CMT, Comedy Central and the recently announced Logo, set to lau MTV Networks has promoted Judy McGrath to chai ...

  33. Viacom Looks to Sell Weak Radio Stations

    June 07, 2004 12:00 AM EDT Viacom Inc. plans to dump underperforming radio stations, but will not sell its Infinity Broadcasting unit, company chairman/CEO Sumner Redstone said Thursday (June 3). Viacom Inc. plans to dump underperforming radio stations, but will not sell it ...

  34. Viacom Chairman Dolgen Steps Down

    June 02, 2004 12:00 AM EDT Resignation follows that of prez/COO Karmazin. Jonathan Dolgen resigned as chairman of the Viacom Entertainment Group today (June 2) according to The Hollywood Reporter. The announcement comes just one day after the resignation of Viacom's pr ...

  35. Viacom President Karmazin Steps Down

    June 01, 2004 12:00 AM EDT Media giant Viacom Inc.'s No. 2 executive, Mel Karmazin, will step down following several years of tense relations with Viacom chairman/CEO Sumner Redstone, the company said today (June 1). Media giant Viacom Inc.'s No. 2 executive, Mel ...