We have made a strategic decision that the future of Viacom lies in maximizing the value and potential of our core entertainment assets. The sale of our education, professional and reference publishing businesses will further refine that focus on software-driven entertainment, unlock the substantial value of these undervalued publishing assets for our shareholders and dramatically improve our capital structure.
More Quotes from Sumner Redstone:
Having completed a strategic refocusing on its core television business, Spelling is a perfect fit with Viacom's entertainment business. By fully integrating Spelling into the Viacom family, with the efficiencies and economies of scale we can bring to bear, both Spelling's and Paramount's operations will be greatly enhanced.Sumner Redstone
We understand that the real market value of Blockbuster may never be fully realized as a wholly owned part of Viacom.
Sumner Redstone
The reason we have not gone to newspapers is because its a slow growth industry and I think they are dying. I'm not sure there will be newspapers in 10 years. I read newspapers every day. I even read Murdoch's Wall Street Journal.
Sumner Redstone
It is clear that... Viacom's businesses have inherently different growth characteristics and investment attributes that appeal to different types of investors,
Sumner Redstone
We are siblings separated in 1971 and are today reunited, ... This partnership seems almost dictated by destiny.
Sumner Redstone
The newspaper is dying. I'm not sure there will be newspapers and its one business I'd never be in.
Sumner Redstone
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