Sumner Redstone Quotes (36 Quotes)



    The transaction should also enable us to retain the best people for each business and would provide incentives for the creation of shareholder value that are more closely tied to the businesses they run,

    Earnings, at 47 cents a share, beat by 2 cents the consensus forecast of analysts surveyed by Thomson First Call. This is an exciting and extraordinary time for the company, ... are ready to rock.

    The significant strengths of new Viacom to deliver consistent double-digit, bottom-line growth and the proven cash generation ability of CBS Corp. will underpin their performance and define their attractiveness to investors.

    The Chinese government is more skeptical about American media companies, but I have been going to China for eight years and I don't think it will affect Viacom. In China, it is always two steps forward and one step back.


    Consolidation was a necessary and positive trend in the evolution of these businesses. But we have entered a new era of rapid technological change and global competition. Bulk will not ensure success.


    We recognize the need to adapt to a changing competitive environment.

    Viacom's fourth-quarter performance is indicative of a new vitality at the company and the major strides we have made in 1997.

    Success is not built on success. It's built on failure. It's built on frustration. Sometimes its built on catastrophe.

    Viacom's exceptional third-quarter results highlight the across-the-board strength of our company, ... In addition to the return to significant growth at Blockbuster, we continue to see outstanding performances at the Paramount studio and at the MTV and Showtime networks.

    It was always tough, but today we are in the throes of something we have never seen in our history. It's clear in recent times the market is looking for a bottom.

    We understand that the real market value of Blockbuster may never be fully realized as a wholly owned part of Viacom.

    Murdoch paid too much for the Wall Street Journal even when he didn't have any competition.

    With both Viacom's and Infinity's core businesses performing at record levels, it is the perfect time to bring them more closely together, ... Combining Infinity with Viacom will now create a company that is financially even stronger and strategically even better positioned to generate superior returns.

    I have read The New York Times, and I still say I saw nothing in it that would make me change my opinion.

    The concepts of our shows that we've created here (in the U.S.) travel in China and around the world, even though the language is different,

    We have a pretty clear signal that we will be able to keep UPN,

    Look at the assets we bring together, ... We bring together a great studio and the most powerful cable networks in the world. We add that to CBS network, CBS' wonderful television station, CBS Radio, CBS Outdoor Advertising and soon we're adding (syndication company) King World to it. There's no company in the world that has that mix of assets. This will be the fastest-growing media company in the world.

    Let me say it remains our intention to split off Blockbuster from Viacom sometime after the first of the year, ... Having said that, we will not give it away.

    It is clear that... Viacom's businesses have inherently different growth characteristics and investment attributes that appeal to different types of investors,

    The quarter was fuelled by double-digit ad sales growth across the board, spurred by such ratings triumphs as CBS's 'Survivor,' which generated significant prime-time audience gains at CBS, and MTV's 'Video Music Awards,' this year's highest-rated cable entertainment program,

    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.

    The Internet is a powerful way to make lots of money... But we are not going to buy Yahoo!

    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.

    The newspaper is dying. I'm not sure there will be newspapers and its one business I'd never be in.

    We are siblings separated in 1971 and are today reunited, ... This partnership seems almost dictated by destiny.

    I think we're in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.

    We are extremely fortunate to have John, a top-notch executive with more than 25 years of experience in the service-oriented retail business, as the new leader of Blockbuster Entertainment,

    Sometimes divorce is better than marriage. We found out that bigger is not necessarily better.

    Viacom is off to a strong start in 2000, paced by the continued outstanding performance of MTV Network, which turned in its fifth consecutive quarter of 20 percent-plus ad sales growth, and Showtime, which registered a 25 percent gain in (cash flow) for the first three months of the year.

    In the second quarter and beyond, we will continue to benefit from the combination of a vibrant advertising market and strong ratings at our cable networks.

    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.

    I am very pleased with the progress of the new CBS Corporation. The Company's rapid pace of change and innovative approach to emerging business opportunities can be seen in the many strategic announcements we have made over these past few months. The more focused and more nimble organization we sought to create has become a reality and that aggressive spirit of excellence and innovation will continue to benefit shareholders for many years to come.

    Viacom's results for the first quarter put the company on a fast track for another record year in 2004.

    We've delivered on our promises and greatly enhanced shareholder value. This move reflects our optimism in the company's ability to sustain its momentum in 1999 and beyond.


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