January 23, 2009 |
Show business mogul Sumner Redstone has finalized the divorce from his wife of five years, court documents show. The executive chairman of CBS Corp. and Viacom Inc. filed for divorce in October, citing irreconcilable differences with Paula Fortunato Redstone. The pair had negotiated a settlement and opted for an uncontested divorce.
April 12, 2013 |
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.
March 21, 2013 |
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....
December 30, 2005 |
Sumner Redstone placed his stake in Midway Games Inc. into a new company controlled by his daughter, Shari Redstone, in an effort to free him from $425 million of debt. The shift will place the stake in Sumco Inc., according to a filing with the Securities and Exchange Commission. Sumco will assume shares that had been used as collateral by Redstone for a loan from Citigroup Inc.
December 17, 2008 |
Midway Games Inc., the Chicago video game maker sold this month by Sumner Redstone, will cut 25% of its workforce and suspend development of some titles to scale back expenses as the company works to repay creditors. Midway said it would close its Austin, Texas, studio, according to a regulatory filing. The suspended games were planned for release in 2010 or 2011 and hadn't been announced publicly, Midway said.
June 24, 2008 |
CBS Corp., the broadcaster controlled by billionaire Sumner Redstone, acquired about 78% of CNet Networks Inc. through a tender offer after the companies agreed to a $1.8-billion takeover in May. About 119.2 million CNet shares were tendered as of Friday, CBS said. The firm will acquire CNet's remaining shares through an offer expiring at midnight Wednesday.
September 8, 2006 |
Viacom Inc., the media company controlled by Sumner Redstone, said it would pay new Chief Executive Philippe P. Dauman $2 million a year plus a bonus of $7 million or more. Dauman, who replaced Tom Freston this week, also was granted stock options worth $12 million, New York-based Viacom said in a regulatory filing. The options will vest in six months.
June 1, 2012 |
Paramount Pictures celebrated its 100th anniversary Friday. The theme song from the classic movie "The Godfather" played over loud speakers as about 250 employees, clutching plastic stemware filled with Champagne, made their way down the well-manicured promenade of the legendary studio. Then, just a few minutes before noon, Paramount's own godfather arrived. Studio employees and a handful of dignitaries gathered to salute Sumner Redstone, the 89-year-old executive chairman of Viacom Inc., parent company of Paramount.
December 20, 2008 |
Blackstone Group, Shari Redstone's advisor, has expanded its role in recent weeks to assist National Amusements Inc. in restructuring $1.6 billion in debt, four people familiar with the discussions said. National Amusements is negotiating with its bankers to refinance two $800-million loans, one that was due Friday and another that is due next year.