LYCOS RETRIEVER 
Sumner Redstone: United States
built 238 days ago
Redstone hired former Home Box Office chief executive Frank Biondi to build on Viacom's diversity. For example, by the mid-1990s Viacom had expanded its MTV music network far beyond its original base in the United States to reach more than 200 million households in some 80 countries in Europe, Latin America, and Asia. Redstone felt that his networks needed a Hollywood studio to make new products, and in 1993 he decided to acquire Paramount. He soon found himself in a battle with QVC Network, Inc. and in time joined forces with video rental empire Blockbuster Entertainment to cement the deal.
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Viacom has already begun identifying which stations to sell under its Infinity umbrella, Redstone told investors at a conference organized by Sanford C. Bernstein in New York. He did not elaborate on how many stations would be sold.
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Beyond the world of media, Sumner has devoted a good portion of his time to important causes. He's a founding trustee of the American Cancer Society and served as State Crusade Chairman for the organization during the 1980s.
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