July 20, 2007 |
Shari Redstone first got the impression that there might be a move afoot to force her out of her family's media empire last summer when she failed to receive notices of some board meetings. Now, it could happen. At a time when she's planning for what should be a joyous family event -- the September wedding of her 25-year-old daughter -- Redstone, 53, is immersed in a bitter feud with her media mogul father, Sumner. The dispute could see her sever ties to CBS Corp. and Viacom Inc.
July 14, 2007 |
Google Inc. Chief Executive Eric Schmidt says he plans to aggressively fight a $1-billion lawsuit from entertainment company Viacom Inc., saying the technology company has been obeying the law with its YouTube video-sharing service. Viacom has claimed that YouTube is a massive center of copyright infringement because it allows users to upload video clips from Viacom properties such as Comedy Central and Nickelodeon.
May 31, 2007 |
Viacom Inc. said Wednesday it will sell its Famous Music publishing unit to Sony/ATV Music Publishing, the song catalog co-owned by pop star Michael Jackson. The deal is estimated to be worth $370 million in cash, people familiar with the talks said. Famous Music's catalog of more than 125,000 songs and sound cues includes music by Eminem and Shakira as well as soundtracks from "The Godfather" and "Mission: Impossible." Famous was founded to publish songs from movies.
May 11, 2007 |
Viacom Inc.'s earnings fell 36% in the first quarter, weighed down by higher marketing expenses for movies and a restructuring charge at its MTV group, the media company reported Thursday, but the results still beat analysts' estimates. New York-based Viacom, which is controlled by media mogul Sumner Redstone and split off from CBS Corp. a year ago, earned $202.9 million, or 29 cents a share, in the three months ended March 31, down from $317.2 million, or 43 cents, a year earlier.
April 11, 2007 |
Viacom Inc.'s advertising deal with Yahoo Inc. on Tuesday showed that Google Inc.'s legal battles with media giants might be opening doors for its competitors. Viacom hired Yahoo to plaster its websites with the types of text ads that Google perfected. Analysts say that Yahoo, the No. 2 provider of search-engine ads, probably benefited from Viacom's legal battle over pirated TV shows and movies appearing on Google's YouTube service.
March 17, 2007 |
It looks as though Black Entertainment Television is about to dial back the booty-and-rerun quotient. The network's parent company, entertainment giant Viacom Inc., will increase BET's budget for original programming by 30% to 50% this year compared with last, and will continue to grow it at that pace in coming years, Viacom Chief Executive Philippe Dauman said during a meeting Thursday with Washington Post reporters and editors.
March 14, 2007 |
Sumner Redstone, Viacom Inc.'s 83-year-old chairman, got the call Monday at the Four Seasons Resort Costa Rica telling him that the company he controls was declaring war on Internet giant Google Inc. after months of failed talks. Vacationing with his wife Paula, Redstone was informed by Chief Executive Philippe Dauman that the media company would be suing Google the following day for more than $1 billion.
March 14, 2007 |
With a $1-billion lawsuit, Viacom Inc. is aiming to upend Google Inc.'s plan to change the way people watch TV and movies. Viacom, which owns MTV Networks and Paramount Pictures, sued Google in federal court Tuesday, accusing the Internet company of "brazenly exploiting" the power of the Web to make easy money off Hollywood's hard work.
March 7, 2007 |
Viacom Inc.'s chief executive Tuesday defended the company's get-tough tactics with Google Inc.'s YouTube video-sharing website, saying that the unauthorized posting of clips from Viacom shows not only cost Viacom advertising dollars but put the material on a platform that made some advertisers uncomfortable.