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Sumner Redstone: Mtv Networks
built 154 days ago
[I]n a high-octane mix of the personal and professional that hallmarks Redstone, there were ... questions about whether Feston was simply too popular with his own staff for comfort. He protected underperformers. When Feston left MTV’s headquarters in Los Angeles, 2,500 staff packed the corridors to cheer and hug him.
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MTV and Nickelodeon began reversing losses overseas as Redstone looked abroad for Viacom's future. He told Fortune in 1999, "Anybody who ignores the fact that 96% of the world's eyeballs are outside the U.S. is going to pay for it."
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Redstone said Viacom is out of the race for smaller social networking site Facebook, which Yahoo! is reportedly considering buying for $1 billion. "The price is too high; we're not going to overpay," Redstone said.
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