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Sumner Redstone

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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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ENTERTAINMENT
April 11, 2014 | By Meg James
CBS Corp. Chief Executive Leslie Moonves remains the king of media compensation. The 64-year-old television executive and Beverly Hills resident was awarded a $66.9-million compensation package last year, according to a Securities and Exchange Commission filing on Friday. That was up nearly 8% from the $62.2-million package he got in 2012, a year that also kept Moonves ‎in a rarefied group of the nation's most handsomely compensated corporate executives. In 2011, Moonves' compensation was nearly $70 million.
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ENTERTAINMENT
February 6, 2013 | By Meg James
Sumner Redstone has joined an elite group of Hollywood heavyweights in cementing his legacy with a prominent USC building named in his honor. The billionaire media mogul gave a $10-million gift to the USC School of Cinematic Arts this year. This week, the university christened a building in its expansive Cinematic Arts complex as the Sumner M. Redstone Production Building. The facility includes 2,600 square feet of production space, including two new soundstages called Redstone 1 and Redstone 2. Filmmakers Steven Spielberg and George Lucas, who both also have buildings in the School of Cinematic Arts complex named after them, USC leaders and other industry titans toasted the 89-year-old Redstone on Tuesday night.
ENTERTAINMENT
January 27, 2014 | By Ryan Faughnder, This post has been updated, as indicated below
With big performances, a mass wedding and Pharrell Williams' giant hat getting much of the attention, the Grammy Awards drew their second-biggest audience in 21 years Sunday night. The 56th Grammy Awards took in an average of 28.5 million viewers to CBS over three hours and 45 minutes, according to Nielsen. That's up slightly from the 28.4 million people who viewed last year's gala, but well below the record of 40 million who watched the 2012 show that aired after the death of Whitney Houston.
BUSINESS
December 2, 2009 | By Ben Fritz
Sumner Redstone has prevailed in his latest family legal squabble, this time with nephew Michael Redstone over a disputed trust in a case that could have cost the media mogul hundreds of millions of dollars. At issue was Michael Redstone's contention that he'd been unfairly deprived of shares in National Amusements Inc., the holding company through which Sumner Redstone owns controlling stakes in CBS Corp. and Viacom Inc. Michael claimed that his late grandfather, Mickey Redstone -- Sumner's father and National Amusements' founder -- had created an oral trust to give him additional shares in the company.
ENTERTAINMENT
December 3, 2013 | By Richard Verrier
The Sumner M. Redstone Charitable Foundation has made a $20 million gift to the Motion Picture & Television Fund, the nonprofit group that provides healthcare and social services to active and retired entertainment industry workers. The donation from Redstone, who is executive chairman of the board of CBS Corp. and Viacom Inc., brings to about $300 million the amount the fund has raised since February 2012. The fund's goal is to raise $350 million. "For me, it is a privilege to help provide essential services for those who truly drive this industry, so they can continue to focus on bringing entertainment magic to so many around the world," Redstone said.
ENTERTAINMENT
January 24, 2014 | By Meg James
Although he rarely makes it into the office these days, Sumner Redstone continues to collect a handsome executive compensation package. The 90-year-old controlling shareholder of Viacom Inc. received a package valued at $36.2 million in 2013 in his role as executive chairman of the New York cable television and movie company, according to a filing Friday with the Securities and Exchange Commission. That represented a 50% increase over Redstone's 2012 Viacom compensation of $24.2 million.
ENTERTAINMENT
June 18, 2012 | By Meg James
An anti-bullying initiative that will enable Los Angeles students to anonymously report threats of violence to school officials via text message is scheduled to be introduced next fall through a charitable donation by media mogul Sumner Redstone. The 89-year-old Redstone, chairman of Viacom Inc., which includes MTV Networks and Nickelodeon, and CBS Corp., donated $100,000 to the Safe to Talk Fund program, made the announcement Monday. The money will be used to establish a service called SchoolTipline in schools within the Los Angeles Unified School District.
BUSINESS
November 19, 1989 | KATHRYN HARRIS, TIMES STAFF WRITER
His grandchildren call him "Grumpy," and some businessmen regard Sumner M. Redstone as the steeliest of opponents. But at 66, with a Forbes magazine ranking as America's third-wealthiest person in America, Redstone can afford to be almost anything that he wants. He personally chose the "Grumpy" nickname because, he says, "It has no age connotations and because it's consistent with what some people say is my personality--which is not true."
BUSINESS
March 31, 2012 | By Meg James, Los Angeles Times
Viacom Inc. and CBS Corp. Chairman Sumner Redstone was etched in entertainment history Friday when he received a star on the Hollywood Walk of Fame. The aging mogul's family members and some of Hollywood's most powerful executives were on hand to witness the tribute on Hollywood Boulevard, just outside the Hollywood Roosevelt Hotel, where the first Oscar ceremony was held. Viacom Chief Executive Philippe Dauman compared Redstone to Adolph Zukor, the visionary New York nickelodeon owner who became one of the first people to make big money in movies.
ENTERTAINMENT
January 24, 2014 | By Meg James
Although he rarely makes it into the office these days, Sumner Redstone continues to collect a handsome executive compensation package. The 90-year-old controlling shareholder of Viacom Inc. received a package valued at $36.2 million in 2013 in his role as executive chairman of the New York cable television and movie company, according to a filing Friday with the Securities and Exchange Commission. That represented a 50% increase over Redstone's 2012 Viacom compensation of $24.2 million.
ENTERTAINMENT
January 9, 2014 | By Joe Flint
After the coffee. Before the first of many trips to Pasadena. The Skinny: The winter version of the Television Critics Assn. press tour kicks off today in Pasadena. Are you as excited as I am? Actually, it's not so bad (good schmoozing and free food) and I love racing up and down the 110 Freeway (hope no traffic cops are reading this). Today's roundup includes Vince McMahon's plans for a WWE network. Also, Viacom and CBS chief talks business and pleasure and a review of IFC's miniseries parody "The Spoils of Babylon.
ENTERTAINMENT
December 3, 2013 | By Richard Verrier
The Sumner M. Redstone Charitable Foundation has made a $20 million gift to the Motion Picture & Television Fund, the nonprofit group that provides healthcare and social services to active and retired entertainment industry workers. The donation from Redstone, who is executive chairman of the board of CBS Corp. and Viacom Inc., brings to about $300 million the amount the fund has raised since February 2012. The fund's goal is to raise $350 million. "For me, it is a privilege to help provide essential services for those who truly drive this industry, so they can continue to focus on bringing entertainment magic to so many around the world," Redstone said.
ENTERTAINMENT
May 27, 2013 | By Meg James
Viacom Chairman Sumner Redstone celebrated his 90th birthday Monday. Friends, family and business associates had planned a surprise Memorial Day birthday party in Los Angeles for the media mogul, even though Redstone has never been a big fan of birthdays -- or surprises. Not to worry. Redstone has plenty of reasons to celebrate this year. Just last week, Viacom stock hit an all time high. Redstone also received an early birthday present from Viacom's board, of which he serves as chairman.
ENTERTAINMENT
May 1, 2013 | By Matthew Fleischer
Viacom Inc. and CBS Corp. Chairman Sumner Redstone may be a billionaire, but according to the U.S. Internal Revenue Service he's also a tax deliquent. Emphasis on the word delinquent. According to a U.S. tax court filing, first obtained by Bloomberg, the IRS says Redstone owes $1.1 million in back taxes, penalties and interest from a series of unreported taxable gifts to his family in 1972. PHOTOS: Hollywood Backlot moments More than four decades later, the IRS wants its money -- saying that Redstone failed to file a return after giving stock in the family's National Amusements Inc. to his son and daughter.
ENTERTAINMENT
April 12, 2013 | By Joe Flint
CBS is home to "Two Broke Girls" and one rich chief executive. Leslie Moonves, the CEO of CBS, had a 2012 compensation package valued at $62.2 million, according to the company's proxy statement filed Friday. Although that makes Moonves the highest-compensated media chief executive, it is also a decline from 2011, when his pay package was worth almost $70 million. PHOTOS: Hollywood backlot moments Moonves had a base salary of $3.5 million and received a bonus of $27 million.
BUSINESS
June 19, 2012 | By Meg James, Los Angeles Times
An anti-bullying initiative that will enable Los Angeles students to anonymously report threats of violence via text message to school officials is scheduled to be introduced next fall through a charitable donation by media mogul Sumner Redstone. The 89-year-old Redstone, chairman of Viacom Inc., which includes MTV Networks and Nickelodeon, and CBS Corp., donated $100,000 to the Safe to Talk Fund program. The money will be used to establish a service called SchoolTipline in the Los Angeles Unified School District.
BUSINESS
April 22, 1994
After a brief separation, former Paramount Communications Inc. Chairman Martin Davis is reuniting with Viacom Inc. chief Sumner Redstone. Davis was named Thursday to the board of Redstone's National Amusements Inc., the parent of Viacom, which recently bested QVC Inc. in a $10-billion takeover war for Paramount. Davis stepped down as head of Paramount last month after Viacom gained control of the company. Earlier this week, he announced he was forming Wellspring Associates Inc.
ENTERTAINMENT
March 21, 2013 | By Meg James
Television personality Deborah Norville and Cristiana Falcone Sorrell, wife of one of the advertising industry's most influential executives, have joined the board of media company Viacom Inc. Norville, who rose to fame as co-host of NBC's "Today" show in 1990, has been the anchor of the syndicated newsmagazine show "Inside Edition" for more than 15 years.  Falcone Sorrell serves as an adviser to the chairman of the World Economic Forum....
ENTERTAINMENT
February 6, 2013 | By Meg James
Sumner Redstone has joined an elite group of Hollywood heavyweights in cementing his legacy with a prominent USC building named in his honor. The billionaire media mogul gave a $10-million gift to the USC School of Cinematic Arts this year. This week, the university christened a building in its expansive Cinematic Arts complex as the Sumner M. Redstone Production Building. The facility includes 2,600 square feet of production space, including two new soundstages called Redstone 1 and Redstone 2. Filmmakers Steven Spielberg and George Lucas, who both also have buildings in the School of Cinematic Arts complex named after them, USC leaders and other industry titans toasted the 89-year-old Redstone on Tuesday night.
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