Sumner Redstone (1923-2020)
Photo: Matt Sayles / APHe was one of the most powerful men in the US media industry - and one of the country's most colorful moguls. He made headlines not only with his business transactions, but also with his personal life. On Wednesday, ViacomCBS announced that Sumner Redstone had died at the age of 97.
The billionaire most recently served as CEO of the entertainment group he co-founded, National Amusements, of which he was the majority owner. Through the company he also held shares in ViacomCBS, where he held supervisory functions well into old age. He never had a doubt about his invincibility. In 2009 he said in an interview: "I intend to live forever!"
The law graduate used his father's company, which owned drive-in cinemas, as the basis for his entrepreneurial career. Redstone built the company into a group after joining in 1954 and named it National Amusements Inc. With an aggressive strategy, he bought up competitors and turned the house into one of the most powerful cinema chains in the USA.
In 1999 Viacom swallowed CBS
Redstone quickly realized that the production of films was more profitable than their distribution and participated in production companies. In 1987 he finally became head of the media company Viacom.
Over the next 15 years Redstone bought rights to a number of television stations such as MTV's programs, production companies and also the Simon & Schuster publishing house. Then in 1999 Viacom swallowed the national TV broadcaster CBS for 37 billion dollars - the largest takeover in the entertainment industry to date.
The Patriarch Redstone was also distinguished by the fact that he did not want to give up the scepter and continued to influence the business of his group well into old age - he fell out not only with many business partners, but also with his children. Recently, its businesses have increasingly suffered from competition from streaming providers. Redstone was forced to resign in 2016 after internal power struggles and allegations that he was no longer mentally capable of leading.
Icon: The mirrorcbu / Reuters / dpa