Word: reasonings
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Dates: during 1990-1999
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...also be the first to remind you that there's another reason he got here: because he delivers. "Wherever I've been, it was always about the shareholder, never about Mel," says Karmazin, folding his arms together over a mahogany conference table. "When you're a publicly traded company, your responsibility is to shareholders, employees, advertisers. It didn't matter if I was going to enjoy this deal or not. We didn't need this deal. CBS was a great company with terrific cash flow without Viacom." And Viacom, as company CEO Sumner Redstone will tell you, was doing just...
That seems to be the thinking in media-company headquarters these days, in a landscape where to stand alone is to stand in a hole. "The reason you're seeing so much anxiety everywhere else is that everyone else wishes they'd done it," says Howard Stringer, CEO of Sony Corp. of America, a record company and movie studio that still lacks a broadcast network...
Karmazin hasn't been completely satisfied with CBS since he's been there, which is one reason he went to see Redstone in his Broadway offices in early August. "The fact that he had me come over to his office means he didn't think any deal was going to happen," says Karmazin, noting that real negotiations take place on neutral turf. But after getting reacquainted with Redstone and discussing a swap of some stations, Karmazin says he began to realize that a bigger deal might be possible...
...Karmazin, a shareholder-first kind of guy, like Redstone--and one reason Redstone could dump his own team. He praises Karmazin's "easy, nonarrogant" style and bristles at the notion that he can't work with a strong No. 2. "There's only one time it didn't work out," he says, referring to former heir apparent Frank Biondi...
Which is one reason the rapidly growing, $15 billion global video-game business is suddenly hotter than ever. Sony and Nintendo have lowered prices on their current machines to just $99. And as retailers race to supply customers with Sega's Dreamcast, industry leader Sony will be unveiling more details on its PlayStation II in Tokyo. Within two months, Nintendo, whose portable Game Boy has tripled in sales this year, will reveal blueprints for its next game console, code-named Dolphin. Even mighty Microsoft is said to be toying with the idea of designing its own console--more like...