Word: paramount
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...huge publishing house Simon & Schuster, and his young, third wife Laura Yorke invited a dozen Manhattan media swells to a dinner party. The guest of honor was to be Snyder's new boss, Sumner Redstone. Redstone's company, Viacom, acquired Simon & Schuster when it bought Paramount Communications, which owned the publisher. But the day before the party, Redstone left a message on Snyder's answering machine, backing...
...volume, high-profile style produced profits that were just about average for the industry, but his personality created serious turnover problems. An arrow of a man, with a loud, deep voice and a blunt manner, he underscored every bottom line with outbursts of temper. When Martin Davis took over Paramount (then Gulf & Western) 10 years ago, the two dictatorial bosses began a festering, not quite open feud. Snyder is a buccaneer, better suited to being an entrepreneur than an employee. Says Joan Didion: "This is the game he wanted to play; he played it for 30 years, and he lost...
...network shows have declined, stations are finding a growing supply of alternative fare on the market, from daytime talk shows to action hours like Baywatch and The Untouchables. By early next year, moreover, there will be two more aspiring networks offering limited prime-time schedules, from Warner Bros. and Paramount...
Right now, the N.F.L. opposes corporate ownership of teams, and until it changes the rule or the new league comes along, the best opportunities in share buying are in basketball, baseball and hockey. Paramount Communications (soon to merge with Viacom) owns the Knicks and the Rangers, Comsat owns the Denver Nuggets, and Disney has the Mighty Ducks of Anaheim, California...
Edgar Sr. blazed a path for his son in another way: investing in show business. He tried gaining control of Paramount but lost, then bought a big block of MGM and actually became chairman in 1969, only to resign after Kirk Kerkorian took over the company. Bronfman continued, however, to back Broadway shows (one was 1776) and motion pictures. In 1970 Edgar Jr., then 14, found a script on a table of the family's New York City apartment and talked his father into bankrolling Melody, a movie based on that script. He skipped summer camp and went to London...