Sumner Redstone news stories on Newser

CBS Boss Les Moonves Makes $70M

John Johnson — Fri, 13 Apr 2012 18:00:42 CDT

Network TV struggling? Not enough to prevent CBS honcho Les Moonves from pulling in $69.9 million in total compensation last year, reports the Wall Street Journal . The president and CEO had a base salary of $3.5 million, with the rest coming in the form of a bonus, plus...

Redstone Sued Over Midway Games Sale

Matt Cantor — Thu, 14 May 2009 11:26:02 CDT

Creditors of the video-game company behind the Mortal Kombat series are suing Sumner Redstone and board members after Redstone, Midway’s former majority owner, sold the company in a “fraudulent transfer,” the Chicago Tribune reports. Creditors say the media mogul sold his 87% stake for just $100,000 in order to...

Debt-Laden Redstone May Sell Theaters

Kevin Spak — Tue, 25 Nov 2008 09:11:00 CST

With debts threatening to consume his media empire, Sumner Redstone is considering selling his family’s 1,500-screen movie theater chain, the New York Times reports. But even that may not be enough to satisfy his bankers, say people briefed on the negotiations. If things get bad enough, Redstone may be...

Beverly Hills Turf War Splits Wealthy Residents

Victoria Floethe — Wed, 19 Nov 2008 20:58:45 CST

A turf war has broken out between two upscale Beverly Hills enclaves, home to the likes of movie mogul Sumner Redstone and basketball legend Magic Johnson, the Los Angeles Business Journal reports. Residents of North Beverly Park got fed up with nannies and other employees of their South Beverly Park...

Redstone to Divorce (Again)

Ambreen Ali — Wed, 22 Oct 2008 14:41:32 CDT

Media magnate Sumner Redstone is calling it quits with his wife of 5 years, the Los Angeles Times reports, even as the Viacom and CBS chairman tries to maneuver his family company through a debt crisis. Though the 85-year-old cited irreconcilable differences in ending his marriage to Paula Fortunato, the...

Claims Chucked in Rather's Suit Against CBS

Harry Kimball — Thu, 10 Apr 2008 17:40:58 CDT

A judge dismissed today some claims of fraud, breach of good faith, and fair dealing in a lawsuit filed against CBS top brass by former anchor Dan Rather, Variety reports. The $70 million suit charges CBS made Rather a scapegoat in the firestorm following revelations “Sixty Minutes” used dubious sources...

Hard Work Has Cruise's Studio Poised to Strike

Zach Samalin — Thu, 04 Oct 2007 15:57:52 CDT

Tom Cruise and longtime producing partner Paula Wagner, 15 months after being publicly bounced from Paramount, have a line of high-end films ready to roll as they attempt to rejuvenate the United Artists studio. A hit would solidify the pair's rebuilding effort, Business Week reports, and first up is Cruise...

MySpace, MTV Team Up to Grill Candidates

Heather McPherson — Thu, 23 Aug 2007 08:02:24 CDT

MySpace and MTV will team up to host a series of live discussions with individual presidential contenders, Reuters reports. Held on college campuses, the hour-long sessions will offer questions from the audience as well as those submitted during the event by IM or text message. John Edwards will be the...

Shari Redstone Weighs Bolting From Viacom

Dustin Lushing — Thu, 19 Jul 2007 12:52:04 CDT

Viacom chairman Sumner Redstone is involved in a bitter spat with his daughter and heir apparent, Shari Redstone, that may lead to her splitting from the Viacom board. Negotiations for her separation from the media empire that counts CBS, MTV, and Paramount among its many holdings are under way, the...