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BUSINESS
July 6, 1987
Viacom Inc., parent of Viacom International Inc., both of New York, announced election of directors of both firms. New members are George S. Abrams, Philippe P. Dauman, Kenneth H. Miller and William Schwartz. They join Sumner M. Redstone, Ira A. Korff and Jerome Magner, of National Amusements Inc., which controls Viacom.
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CALIFORNIA | LOCAL
June 19, 1992
Your article has me dumbfounded. To use this much space for something that never happened is appalling. Judged in the cold light of history, Perot's analysis of GM senior management was correct. During Roger B. Smith's highly compensated tenure, General Motors lost considerable market share. Thousands of GM's American workers have been laid off and thousands more will be. How your newspaper can slight Perot for considering any option in his attempt to change GM's direction is not journalism, it's propaganda.
BUSINESS
March 29, 1985
Culver City-based MGM/UA Entertainment Co. said the negotiations involve suits brought by minority shareholders in its 85%-owned Home Entertainment Group. MGM/UA said any such settlement might result in an increase in the price to be received by HEG's public shareholders in MGM/UA's pending bid to buy the publicly held shares. One suit was brought by National Amusements of Dedham, Mass., a motion picture exhibitor, and its chairman, Sumner M. Redstone, who hold 7.
BUSINESS
May 22, 2003 | From Reuters
Viacom Inc. shareholders approved a board of directors with fewer company insiders, making it the latest company to distance its board from management as a safeguard against corporate scandals. Viacom Chairman Sumner M. Redstone's son Brent, CBS chief Leslie Moonves, CSFB Vice Chairman Ken Miller and George Conrades, chairman of Akamai Technologies Inc., did not stand for reelection to the new 17-member board.
BUSINESS
August 17, 1993
Spotlight on Viacom Inc.: "I'm heavily involved in the operation of the company; in fact, no transaction of any consequence happens without my participation," said Chairman Sumner M. Redstone. "I'm working harder now than I've ever worked in my life," he added. This hands-on management strategy, combined with heavy investment in different types of media around the world, has translated to the bottom line: revenue is up 9% compared to last year and profit has almost doubled.
ENTERTAINMENT
January 17, 2013 | By Meg James
Billionaire Sumner Redstone has donated $10 million to the USC School of Cinematic Arts. The gift will be earmarked to help further the media production education programs at the school, including a state-of-the-art production facility. Redstone is executive chairman of media companies Viacom Inc. and CBS Corp. The facility will be named the Sumner M. Redstone Production Building. It will be part of the school's new Cinematic Arts Complex, which will be dedicated Feb. 5. Over the years, the 89-year-old mogul has contributed more than $100 million to various institutions and causes, including the Massachusetts General Hospital, USC Keck School of Medicine, Autism Speaks, Cambodian Children's Fund and the Global Poverty Project, among others.
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