Word: bigs
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Dates: during 1990-1999
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Sumner Redstone has done his last big deal. Probably. This year anyway. Oh, heck, at least before our next issue hits the stands. That seems safe. He keeps saying he's done, hedging ever so slightly, and then proving himself wrong. It's either a rare lapse of vision for this self-made billionaire or the grandest ongoing head fake in the entertainment industry...
...same scrappiness and a Harvard education, and turned a drive-in into a bustling movie-house company called National Amusements, which grew to 1,200 theaters. He is often credited with inventing the concept of the multiplex. Something of a late bloomer, Redstone didn't hit the big time until 1987, when at age 64 he put virtually all the assets of his company at risk in a bidding war that won Viacom, then a cable company, for $3.4 billion. Ironically, Viacom had been split off from CBS 16 years earlier as a syndicator of TV shows and movies...
Redstone has always taken big risks. The Paramount bidding went $2 billion higher than his target, but he spent the money anyway. He now says he'd never burden Viacom like that again and notes that the CBS deal, a stock swap, was done without paying a premium or adding debt...
...everyone welcomed the prospect of a third best-selling Rowling novel in the U.S. Says David Rosenthal, publisher of Simon & Schuster: "There is a big controversy stirring over whether Harry Potter should be on the New York Times bestseller list. There are a number of publishers--I don't happen to be among them, actually, but I've got calls about this--who are thinking about banding together to beg the New York Times not to include the Harry Potter books on the regular fiction best-selling list, since they now take up two slots and will soon take...
Despite its publisher's hope that Purdy's book will hit it big with thoughtful twentysomethings starved for meaning in a vacuous time, For Common Things is an arduous read that would test the syntactical skills of a tenured professor. It is not the accessible pop polemic some reviewers have made it out to be but an achingly ambitious manifesto from a very young young man who happens to be, alarmingly often, eloquent beyond his years. Insufferably smug, however, Purdy is not, particularly when it comes to his anointment as an instant wise man for the millennium. "Irony," he elegantly...