Sumner Redstone facts for kids
Quick facts for kids
Sumner Redstone
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Redstone in 2001
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| Born |
Sumner Murray Rothstein
May 27, 1923 Boston, Massachusetts, US
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| Died | August 11, 2020 (aged 97) Los Angeles, California, US
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| Burial place | Sharon Memorial Park Sharon, Massachusetts |
| Education | Boston Latin School |
| Alma mater | Harvard University (AB, JD) |
| Occupation | Chairman of National Amusements Chairman Emeritus of ViacomCBS |
| Spouse(s) |
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| Children | Brent Redstone Shari Redstone |
| Parent(s) | Belle Ostrovsky Michael Redstone |
| Military career | |
| Allegiance |  United States |
| Service/ |
 United States Army |
| Years of service | 1944–1945 |
| Rank |  First lieutenant |
| Unit | Signals Intelligence Service |
| Battles/wars | World War II |
Sumner Murray Redstone (born Rothstein; May 27, 1923 – August 11, 2020) was a very rich American businessman. He was a powerful person in the media world. He started and led the company called Viacom. He also owned most of the National Amusements movie theater chain.
Through National Amusements, his family still owns most of the voting shares of ViacomCBS. This big company owns famous brands like the Paramount Pictures film studio and the CBS television network. In April 2020, he was worth about $2.6 billion.
Sumner Redstone used to be the main boss (executive chairman) of both CBS and Viacom. In 2016, when he was 92, he stepped down from these roles. His daughter, Shari Redstone, and his grandchildren were set to take over his business empire.
Contents
Early Life and Education
Sumner Redstone was born in Boston, Massachusetts. His family was Jewish. His father, Michael Rothstein, changed the family's last name to "Redstone" in 1940. "Redstone" is a translation of the original Yiddish name, "Rothstein." Michael Rothstein owned a theater company, which later became National Amusements.
Sumner went to Boston Latin School and finished at the top of his class. In 1944, he graduated from Harvard College in just three years.
Military Service in World War II
During World War II, Redstone served in the United States Army. He was a 1st Lieutenant in the Signals Intelligence Service. His team helped decode secret Japanese messages.
After the war, he studied law at Georgetown University Law Center and Harvard Law School. He earned his law degree in 1947.
Starting His Business Career
After law school, Redstone worked for the U.S. government as a lawyer. In 1954, he joined his father's movie theater business, National Amusements. By 1967, he became the CEO of the company.
Redstone believed that the movies and shows themselves (the "content") were more important than how they were delivered (like movie theaters or TV channels). He famously said, "Content is king!" He invested in big movie studios like Columbia Pictures and Paramount Pictures. He sold these investments for a lot of money in the early 1980s.
In 1979, Redstone was badly burned in a hotel fire. Doctors thought he might not recover fully. But he showed great determination and recovered after many surgeries. This event showed his strong will to live and succeed.
Building a Media Empire
Sumner Redstone wanted to expand his business. He decided to focus on a company called Viacom.
Acquiring Viacom
Viacom was a company that used to be part of CBS. It managed the rights to show many popular TV programs again after they first aired. Viacom also owned MTV Networks, which included MTV and Nickelodeon. It also owned Showtime, a pay-TV channel.
In 1987, after a big effort, Redstone gained control of Viacom. This was a major step in building his media empire.
Buying Paramount Pictures
Redstone's next big move was buying Paramount Communications in 1994. This company owned Paramount Pictures, a famous movie studio. He had to bid against other powerful businessmen to get it.
Some people thought Redstone paid too much. But he sold off some parts of the company, like the Madison Square Garden properties, and made a big profit. Under Redstone's leadership, Paramount made many successful and award-winning films. These included Saving Private Ryan, Titanic, Braveheart, and Forrest Gump. They also started the popular Mission: Impossible movie series.
Paramount also created new successful movie series like Transformers and Star Trek. They released important films like An Inconvenient Truth.
Redstone also bought Blockbuster Entertainment, which had a large library of films. Later, he bought DreamWorks SKG, another film studio, in 2006. The animation part, DreamWorks Animation, remained a separate company.
In 2012, Paramount Pictures named one of its buildings the Sumner Redstone Building to honor him.
Taking Over CBS
One of Redstone's biggest achievements was buying CBS Corporation in 2000. Viacom, which was once a spin-off of CBS, now owned its former parent company!
This merger brought together many different types of media businesses. Viacom now owned:
- TV networks like CBS and UPN
- Cable channels like MTV, Nickelodeon, Comedy Central, and BET
- Pay TV channels like Showtime
- Radio stations
- Movie studios like Paramount Pictures
- Companies that made TV shows like The Oprah Winfrey Show and Dr. Phil
In 2006, CBS and Viacom split into two separate companies again. Redstone remained the chairman of both.
Leadership Changes
Redstone had plans for his daughter, Shari Redstone, to take over his role. His stock was placed in special trusts for his five grandchildren. This meant they would inherit his shares.
Over the years, there were changes in who would lead Viacom and CBS. In 2006, Redstone replaced Viacom's CEO, Tom Freston, with Philippe Dauman. Redstone said this was because Viacom needed to be more active in the digital world.
In 2016, Redstone stepped down as chairman of CBS and Viacom. Les Moonves became chairman of CBS, and Philippe Dauman became chairman of Viacom.
His Holdings
When he passed away, Sumner Redstone owned over 70% of the voting shares of ViacomCBS. He controlled this company through National Amusements.
Books
Sumner Redstone wrote an autobiography called A Passion to Win. It was published in 2001. The book tells the story of his life, from growing up in Boston to his big business deals. It covers how he took over Viacom and managed companies like Blockbuster Video and Paramount Pictures. The book also talks about the merger with CBS.
Giving Back
Sumner Redstone gave more than $150 million to many good causes.
- In 2007, he gave $105 million to support research and patient care for cancer and burn recovery. This money went to organizations like FasterCures, the Cedars-Sinai Prostate Cancer Center, and the Massachusetts General Hospital.
- He gave money to the Global Poverty Project to help people living in poverty.
- He supported the Cambodian Children's Fund, which helps children in need in Cambodia. His money helped create the Sumner M. Redstone Child Rescue Center.
- In 2010, he gave $1 million to Autism Speaks to support research into autism.
- In 2010, he donated $24 million to the Keck School of Medicine at the University of Southern California for cancer research.
- In 2012, he gave $18 million to the Boston University School of Law. This helped build the Sumner M. Redstone Building.
- He also donated to the Go Campaign, which helps orphans and children in 21 countries.
- In 2013, his foundation gave $1 million to Literacy Inc., a group that helps with reading skills in New York City.
- In 2014, he donated $10 million to Harvard Law School. This money helps students who want to work in public service after they graduate.
Personal Life
In 1947, Sumner Redstone married Phyllis Gloria Raphael. They had two children, Brent Redstone and Shari Redstone. They divorced in 1999. He later married Paula Fortunato in 2002, but they divorced in 2009. He lived in Los Angeles.
Sumner Redstone passed away on August 11, 2020, at his home in Los Angeles. He was 97 years old.
See also
In Spanish: Sumner Redstone para niños
