Word: biondi
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...Diller essentially threw in his hand and let Redstone rake in the pot. For Redstone, the triumph in what he angrily came to call "the cruel, abusive and sometimes ridiculous battle for Paramount" could hardly have been sweeter. With the battle about to end last Monday, Redstone, Biondi and two Viacom colleagues repaired to the posh "21" Club in midtown Manhattan to dine and await the result of the tally of tendered shares, which was due by midnight. The first call from Viacom's proxy solicitor came at 8:30, with word that Viacom already had the 50.1% of Paramount...
...might also be a personal coup for Huizenga, 56, who may yet play a dominant role in the sprawling new company. While Biondi, 49, will remain Viacom's chief executive officer, industry leaders who know Huizenga well say he could swiftly become the real power. "He is lightning quick, a classic trader and a gambler," says an entertainment-industry executive. "He looks at Sumner, who is 70. He eats Biondi instantly. He comes out on top." In a sign of Huizenga's likely clout, Redstone flew to Blockbuster headquarters in Fort Lauderdale, Florida, last week to confer with...
...also spells the almost certain end of the Paramount career of Martin Davis, who has run the corporation since 1983 but was relegated to the role of bystander in the protracted struggle. There will be no room for Davis in the merged company, which will be headed by Redstone, Biondi and Blockbuster chairman H. Wayne Huizenga, who is to become Viacom's vice chairman. Davis will leave with a fat consolation prize, however, when he cashes in his Paramount stock for roughly $120 million...
...same time, Greenhill instructed Levitt to maintain contact with his pal Berrard. The strategy paid off on Christmas Day, when Levitt, calling from New Jersey on his Jeep Cherokee car phone, got Berrard on the line at a golf resort in Arizona. Also hooked up at various times were Biondi, who was in Scottsdale, Arizona, and two other members of the Viacom camp in Houston and Long Island's Hamptons. "Steve," said Levitt, "let's talk...
...retailer of home videos and Hollywood's largest single customer but also the majority owner of Spelling Entertainment, Republic Pictures and the Florida Marlins baseball team, mystified analysts by agreeing to be the merged company's vice chairman. This left Redstone squarely in control and Redstone's man Frank Biondi as the chief executive officer...