It’s tough times for even billionaires like Sumner Redstone.
In an effort to help resolve his debt problems, Sumner Redstone has sold his controlling stake in videogame company Midway Games Inc. to a private investor.
Laura Bush Definitely Writing Memoir - Can I Pre-Order? (HuffPo)
Forbes Denies Wacky Russian Buyout Rumor (SAR)
Ann Moore Honored by MPA as she overseeing 600-person cuts at Time Inc. (Portfolio)
Martha Stewart also being honored by MPA (AdAge)
Vanity Fair forging ahead with more intimate Oscar Party (Portfolio)
Sumner Redstone May Sell CBS, Possilbly No Longer Billionaire (HuffPo)
Steve Guttenberg to direct Police Academy 8 - no joke! (Daily Mail)
Sean Hannity (right) to Go It Alone, Without Alan Colmes (NYT)
Former Philadelphia local news anchor Larry Mendte, who admitted over the summer to hacking into co-anchor Alycia Lane’s e-mail, was sentenced Monday to six months house arrest (HuffPo)
Social Networking Traffic Up as Advertising Falls Flat (Mediaweek)
Do Publishers Still Believe in Magazines? (AdAge)
Houghton Mifflin Harcourt, the publisher of authors including Philip Roth, Jonathan Safran Foer, Günter Grass and J. R. R. Tolkien, has temporarily suspended acquisitions of new manuscripts (NYT)
Reality TV is Over? (Medialife)
Hey, why not?
If Daily Candy can get sold for $125 million to Comcast, we’re setting our goals a little bit higher.
It seems the deal was all about the Daily Candy’s emails and Viacom was willing to go as high as $120 million, according to Mediabistro (which sold for a lot less).
I’m assuming Viacom is still on the prowl.
Sumner Redstone - I’ll be ready for your call. Just a reminder, I used to work there and it would be real fun to work together again.
Just give me a few weeks and we’ll be ready to go.
In a CNBC interview, Sumner Redstone said “flatly that his daughter Shari was no longer the company’s heir apparent and that she would leave the board as part of an agreement he had reached with her.”
“I DON’T want to die. I love what I’m doing. I love Viacom. I love CBS. And so I don’t want to die. I have a will to live. The same will to win that I’ve always had. And, I’m gonna fight death as long as I can. I like it here. I don’t want to go anywhere else,” said Sumner Redstone, the head of Viacom and CBS. (Reports Page Six via CNBC’s Business Nation.)
Posted by: Mark Pasetsky
(Image Via Splash)
Yes, that’s Tom Cruise - The Tom Cruise - bowing down and handing over the MTV Movie Awards’ Generation Award to Adam Sandler - yes - star of such greats as Little Nicky, Waterboy and I Now Pronounce You Chuck And Larry.
Did anyone find this sad, confusing or just plain disturbing?
I did, but it doesn’t take much to figure out why Tom Cruise lowered himself (literally) to this level.
BREAKING NEWS: Tom Cruise and Sumner are settling their differences and getting ready to work together again, according to Page Six. The two met at the very public Beverly Hills Hotel to discuss Tom returning to Paramount Studios. In case you forgot, Redstone publicly embarrassed Cruise by firing him two years ago after Tom’s public antics on Oprah and his disastrous Today Show appearance.
