Conversations From the Corner Office

BIO

Viacom and CBS Chairman Sumner Redstone

Sumner Murray Rothstein was born on May 27, 1923, in Boston, Mass. In early adulthood, Redstone attended Harvard University but took a break from his studies during World War II to work as a code cracker for the US army. Following the completion of his B.A. in 1944, Redstone worked in Washington, D.C. and enrolled at Georgetown University Law School before completing his LL.B at Harvard in 1947. That same year, he married Phyllis Gloria Raphael. The couple had two children, Brent Dale and Shari Ellin, but would later divorce in 2002. Redstone was remarried in 2003 to schoolteacher Paula Fortunato.

After law school, Redstone worked as a special assistant to the US Attorney General with a brief stint in the San Francisco branch of the US Department of Justice. He gave up a career in law in 1954 to join National Amusements, a movie theater-management company run by his father. Breaking from the traditional business operations of National Amusements, Redstone turned his family company into a budding empire by investing in top motion-picture studios, such as Columbia, Twentieth-Century Fox and Paramount Pictures. He would go on to be named both President and CEO of National Amusements in 1967.

In 1971, Redstone's interests turned to Viacom International, the primary distributor of CBS-TV programs for syndication. In addition to shows produced by CBS, Viacom also acquired the majority of the Carsey-Werner Productions programming catalog, including The Cosby Show and Roseanne, as well as MTV Networks, Showtime Networks and The Movie Channel.

Redstone became chairman of the board of Viacom in July 1987, and through a procession of major acquisitions, proceeded to position his company as one of the leading media giants of our time. Most notable amongst Redstone's purchases through Viacom was Paramount Communications, which he bought in an intense 1993 bidding war. And despite criticism that he paid more than the company may have been worth, Redstone quickly turned his expenses into a handsome profit.

Another notable company that fell under the control of Redstone during this period was Blockbuster Entertainment, which contains Aaron Spelling Productions as well as a vast movie library — the majority of which has been integrated into Paramount Pictures. Redstone's success in navigating Viacom through multiple high-profile acquisitions led to his appointment as the company's chief executive officer in 1996.

In 2000, Viacom merged with its former parent corporation, CBS, completing a partnership proposed to Redstone by Mel Karmazin, the former President of CBS. The merger would encompass a vast empire of network and cable television stations, pay TV, radio, music publishing, and motion-picture production — including UPN, Comedy Central, BET, TV Land, CMT, Infinity Broadcasting, Big Ticket Entertainment, and King World Productions, which produces The Oprah Winfrey Show, Dr. Phil and Wheel of Fortune.

In March of 2005, Redstone announced that he wanted to split Viacom into two publicly traded companies in order to make it more profitable than it was as a single entity. Viacom's board of directors approved the decision in June 2005, allowing for shares in the two separately managed companies, namely Viacom Inc. and CBS Corp., to begin trading in December 2005. In 2006, at the age of 83, the grand old media mogul stepped down as head of Viacom, leaving trusted associates to run the corporation and his family members to manage his controlling shares of the company.

Other interesting facts about Sumner Redstone:

He owns the Showcase Cinemas theater chain.

In 1979, he survived a Boston hotel fire with burns over half his body by clinging to a third-floor window with his severely burned right hand until firefighters could reach him. His right arm hangs loosely, and the hand is gnarled with purplish skin.

Graduated first in his class from public prep school Boston Latin.

Originally attended Georgetown University Law School but transferred to Harvard Law School and received his LL.B degree from that institution.

Has an autobiography, "A Passion To Win," co-written with Peter Knobler, published by Simon & Schuster.

Was recruited by Robert D. Reischauer, a Harvard Professor and future US Ambassador to Japan, while an undergraduate student at Harvard University to decode Japanese codes during World War II.

Sources: Redstone's autobiography "Passion to Win," IMDB.com

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