Word: sumners
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During late-night negotiations at Karmazin's $11.4 million Trump Tower condo, the two men found common ground. Both were self-made entrepreneurs who prided themselves on rising from modest means to head powerful companies. "Sumner and I have parallel interests," says Karmazin. Says Redstone: "I insisted that Mel come along...
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...
Redstone has said he fully intends to be CEO when Karmazin's current contract expires. "Look, Sumner Redstone is one of the four or five corporate geniuses," says radio icon and longtime Karmazin friend Don Imus. "And Mel is in that class with Rupert, Ted and Eisner. We'll see what sort of relationship they have...
...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...
...Leadership] Sumner Redstone Chairman...