Word: viacom
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Dates: during 2000-2009
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...facing very serious and fundamental threats to their well-being that require significant management attention, and management attention is the most scarce resource at any company. I think the right answer is for these businesses to get more focused. That's generally the direction that they're going. Viacom and CBS split up. Time Warner spun off Time Warner Cable and will spin off AOL. This is clearly the trend...
...because they only count the deals that they do. Similarly media moguls look like geniuses because they only talk about the deals that went well. The best example of that is when [News Corp. CEO Rupert] Murdoch bought MySpace - and it's rumored Tom Freston lost his job [as Viacom CEO] over not buying it - everyone talked about MySpace and how smart that was. But several weeks apart from MySpace News Corp. spent even more money on an Internet game company called IGN that nobody's ever heard of since. If you only count the ones that look successful...
...South Korea, “electronic sports,” or eSports, is an $81-million-per-year industry. The bedrock of this relatively recent phenomenon is the game StarCraft, published in 1997 by American company Blizzard Entertainment (now Activision Blizzard, a Viacom company). There are four major StarCraft tournaments that play three seasons annually, at around two months per season. The matches are recorded in front of a live studio audience (comprised mostly of high-school-age female fans) in one of the high-tech “eSports stadiums” sprinkled across Seoul. The footage is televised...
...There's no question that the worsening economy is prompting some belt-tightening in the entertainment industry. NBC Universal is cutting $500 million from next year's budget and Viacom's Paramount Pictures is shrinking its slate from 25 movies a year to 20. But how bad the industry is hurt and which sectors are hit hardest will depend in part on an important calculation that consumers make - how much is an hour of fun worth...
Sumner Redstone filed for divorce on Oct. 17, when his more than 16 million Viacom shares were at $18.85, down from $39.40 six months ago; his CBS shares had dropped about $288 million in value in the same period. Redstone and his wife Paula reportedly have a prenuptial agreement, so it's unlikely the market has much to do with timing, but Mrs. Redstone divorces a poorer man than she would have six weeks...