Word: mtv
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Dates: during 1990-1999
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...last week the opportunity to pair the largely fuddy-duddy CBS assets--broadcast television, radio and outdoor advertising--with Viacom's hipper, younger, cable and movie-studio properties--MTV, VH-1, Nickelodeon and Paramount Pictures--was a deal too good for Karmazin not to persuade Redstone to believe in. "Look, we didn't need a studio," Karmazin says, smiling. "But nobody in the world can tell me it's a bad idea to have...
Those assets include household names like CBS, Paramount, MTV, VH-1 and Nickelodeon in addition to properties such as UPN, TNN, Showtime, Simon & Schuster publishing and others, giving the company cradle-to-grave demographics. For example, CBS draws the 50-plus crowd, which will be more than offset by Nickelodeon's and MTV's decisively Gen Y and younger constituency. "My kids will respect me more because I'm involved with a channel [MTV] they actually watch," says CBS president Leslie Moonves...
When Redstone shifted the talks to a hotel suite, a more appropriate setting for a seduction, Karmazin knew things were getting serious. He pointed out to Redstone that the two companies already had great working relationships among CBS's extensive radio network and Viacom's MTV and VH-1. "Sumner said to me, 'You've been stalking my company for a long time; come over and talk to me about CBS.'" Karmazin approached his talk with Redstone as if he were a prospective investor, highlighting CBS's strong network of affiliates and its prime radio stations and outdoor-advertising assets...
...television viewers, the merger should result in an explosion of cross promotions. Don't be surprised to see plugs for NFL football on MTV or specials about upcoming Paramount pictures airing on CBS. Hollywood producers fret that corporate priorities could distort programming decisions. "This can stifle creativity," says Brad Grey, chairman of management firm Brillstein-Grey and producer of HBO's The Sopranos. "These large companies want to put their own shows on the air first and foremost...
...soon--thanks in no small part to the splashy showings of MTV and especially Today--new fishbowls for ABC and CBS's morning shows will join these, as well as Fox News' existing one on 48th Street. Next week ABC's Good Morning America begins broadcasting from a two-story, 46,750-sq.-ft. glass studio a quick jaywalk from MTV's. CBS launches its high-tech, estimated $30 million crystal ship along with the Early Show with Bryant Gumbel...