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Sumner Redstone - A Passion to Win

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A Passion to Win: summary, description and annotation

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A titan of modern media, Sumner Redstone shares how he became the head of one of the worlds great media empires and one of the richest men in the entertainment business.
In one of the most fascinating and eye-opening business autobiographies written, Sumner Redstone shares the unvarnished story of how he overcame significant obstacles on his trek to build a vast media and entertainment engine.
A Passion to Win gives a riveting look behind the scenes at the highly charged negotiations that won Redstone both Viacom and Paramount, revealing the intense business calculations and strong emotions of Redstones head-to-head confrontations with adversaries such as Barry Diller and H. Wayne Huizenga.
In a book that shows readers what it takes to win, Redstone shares the rollercoaster journey that led him to become the head of a wildly successful company and the mind behind the revolution of the video industry.

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Picture 1

SIMON & SCHUSTER

Rockefeller Center

1230 Avenue of the Americas

New York, NY 10020

Copyright 2001 by Sumner Redstone

All rights reserved,

including the right of reproduction

in whole or in part in any form.

SIMON & SCHUSTER and colophon are registered trademarks

of Simon & Schuster Inc.

ISBN-10: 0-7432-1439-0
ISBN-13:978-0-7432-1439-1

Visit our Web site at www.SimonSays.com

ACKNOWLEDGMENTS

Just as I did not build Viacom by myself,I have many people to thank for their participation, good work and good wishes in the writing of this book. My close friend Philippe Dauman spent extensive time working with me directly, focusing the big picture, sharpening the details, recalling stories and shaping insight. His help and dedication were essential and greatly appreciated. Tom Freston, Jon Dolgen, Sherry Lansing, John Antioco and Ken Miller all added their good will and recollections, providing important views from all corners of the Viacom world. I am pleased to call them all my friends.

My family of colleagues at National Amusements Jerry Magner, Ed Knudson, Bill Towey, George Levitt and Jeff Aldrich pitched in with anecdotes and good humor, just like old times. I feel lucky to have Jon Newcomb at Simon & Schuster he has been doing a great job. Jack Romanos was especially adept at piloting this project, and he, Carolyn Reidy and David Rosenthal have been very supportive. Fred Hills edited the manuscript thoughtfully with great attention to detail; Charlotte Gross copyedited wisely, Leslie Ellen supervised with care, and Michael Selleck, Victoria Meyer and Aileen Boyle provided their marketing and public relations expertise. Nadine Wolf and Joycelyn Ferguson transcribed quickly and accurately. France Rovelli assisted ably.

My collaborator, Peter Knobler, has been of inestimable assistance to me in conveying the story of my life and the story of Viacom to the outside world. In the course of our collaboration, Peter has demonstrated enormous insight and intelligence and, at the same time, has become my friend.

We appreciate the work of Esther Newberg, who brought Peter to me.

Viacom is at the center of my life, and the board of directors that helped build Viacom is made up entirely of smart and excellent businesspeople. Bill Schwartz is a fine man and was dean of Boston University Law School, where it gave me so much pleasure to teach. He is now of counsel to Cadwalader Wickersham & Taft. Ivan Seidenberg possesses an extraordinarily sharp mind and continually impresses me, particularly in his building of NYNEX into Bell Atlantic, followed by that companys merger with GTE and the creation of Verizon. Fred Salerno, Seidenbergs second-in-command, has likewise been very successful and is now vice chairman and chief financial officer of Verizon. Ken Miller played a large role in the original acquisition of Viacom. I put so much trust and faith in my personal attorney, George Abrams, that I have almost literally placed my life in his hands.

And what excellent executives we have at Viacom. Carl Folta, senior vice president, corporate relations, has done a fantastic job in conveying the enormous success and growth of the company. He and his staff, particularly Lauren Cohen, were instrumental in providing and confirming many of the details on which this book is based. Marty Shea, along with Carl Folta, has traveled the world with me, from New York to Dubai, meeting with business associates and investors. Michael Fricklas has proved to be a worthy successor to the talented Philippe Dauman. And as for Bill Roskin, he is a master at dealing with all human resources issues.

My friends Marvin and Barbara Davis introduced me to almost everyone I know in California and have been extremely good to me. Bob Evans, who has been so supportive over the years, is also a good friend.

Until recent years I knew Aaron Spelling only as a venerable legend, the single most prolific producer of television programming in history. But since Spelling Entertainment Group, Inc. (now Spelling Television, Inc.) became a part of Paramount, he has become one of my closest friends. Notwithstanding the mansion in which he lives with his beautiful wife, Candy, Aaron is a gentle, compassionate and laid-back man who doesnt take himself too seriously, all characteristics that appeal to me.

Herb Geller, who now acts as my assistant and driver in Boston, was the man who used to literally drag me into the car when I would travel back and forth between my home and the hospital after the fire, before I could really walk. There has never been anything I could ask of him that he would not do. Without Herb, life would have been far more difficult than it was. With the acquisition of Paramount, Frank Gomez became my driver and aide in New York, and he has proved to be a valuable asset.

My brokerage account at Bear Stearns is run by Steven Sweetwood, whose mother, Madeline (once my stockbroker), is married to my brother, Edward. Aside from being an able broker, Steven is the most loyal person I have ever met. Steven and his colleague Marvin Friedman are not only business acquaintances but also friends.

There are three women who play enormous roles in my life: Tilly Berman, Harriet Solo and Cathy Matera. All three have made my life far better than it would have been without them, and I appreciate their devotion. Tilly is my assistant in Boston and has been with me for many decades. She records all my financial turns, provides all the information for my accountants concerning my tax returns. She is wonderful, a close friend not only of me but also of my entire family. Tillyis family.

Harriet and Cathy are my New York assistants. Harriet has been with me at Viacom since the beginning. A highly skilled woman, she coordinates my hectic travel schedule, arranges all of my appointments and keeps the details of my life in order. I cant thank her enough. Cathy, a woman of great spirit and talent, worked tirelessly with me on the manuscript, spending hours as we reviewed every word. I value her energy, dedication and enthusiasm.

And I thank Viacom. It is my world.

S. R.

This book is dedicated to my children, Shari and Brent, to Brents wife, Annie, and to the five people I adore the most: my grandchildren, Brandon, Keryn, Kimberlee, Lauren and Tyler.

S. R.

To Jane and Daniel

P. K.

PROLOGUE
The Fire This Time

Idont splurge on much in my life.My material desires have always been minimal. When Im in Boston I live in the same suburban home I moved into forty years ago. For sixty years I bought suits off the rack (some would say not wisely). But I like a nice hotel. I feel Ive worked hard and should be able to enjoy good food and stay at a nice place. If its comfortable and the service is good, thats enough for me. I dont have to own it.

I was perfectly happy checking into Bostons Copley Plaza. As president of National Amusements, Inc., owner of a small chain of movie theaters, mainly drive-ins, I was there for a party to honor a branch manager of Warner Bros. Pictures. I was going to New York the next day. It was 1979 and we were in the planning stages of opening the Sunrise Multiplex, our first indoor operation in the New York metropolitan area, and between construction, booking and breaking into a new market, there was a lot of work to be done. The party at the hotel was going to run late. I would stay the night, get up early and be on my way.

I went to sleep thinking about work. It was well after midnight when I woke up and smelled smoke.

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