Word: viacom
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Dates: during 1990-1999
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DIVORCING. PHYLLIS REDSTONE, 74, and Viacom CEO SUMNER REDSTONE, 76; after 52 years of marriage. The marriage reportedly foundered because of the media mogul's affair with a 46-year-old production-company executive...
...Scouting Report] The peacock was ruffled by the Viacom deal. It is now the only TV network without a production arm to create programming. For now, NBC is looking to expand its reach by possibly taking a 32% stake in Pax Communications...
...Most U.S. homes and every last dorm room and office have high-speed connections to the Net; a wired nation surfs an endless array of digital infotainment, and--sorry, Sumner--the '80s-era conglomerates brimming with vertically integrated synergy are about as relevant as rabbit ears. The Viacom-CBS merger "has the feel of a nostalgia purchase," says Paul Saffo of the Institute for the Future. "It's as if you're out hiking, and a mastodon pops up in front...
...that actually happened, of course, the mastodon would squash you flat. The Viacom-CBS deal is about translating media distribution into ad dollars, and in the current world, CBS's TV, radio, billboard and Web properties will make the new Viacom a promotional and marketing juggernaut. Viacom, says PaineWebber analyst Chris Dixon, "is clearly going to be on the cutting edge of any kind of ad spending that's being done across all media...
Well, maybe--except the coming broadband Web seems expressly designed to hasten the demise of Viacom's broadcast-media landscape. "I don't understand how the [TV] networks get bigger," says Joe Krause, senior vice president of content at Excite@Home, one of the broadcast world's likelier rivals. "I only know how they get smaller...