Word: viacom
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That doesn't mean Karmazin will necessarily get Redstone's job down the line. "This was not a decision on succession," Redstone says, making it clear that with a majority of Viacom's voting stock and a personal stake in the company worth $9.3 billion, he remains firmly in charge. "I love what I'm doing. I really think I'm at the top of my game." If you're Karmazin eyeing the corner office, that should give you pause. And if you're a media company, it's probably time to stop going for that head fake...
...Movie and TV Studios] Paramount Pictures, Paramount TV, Spelling, Viacom...
...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...