Word: sumnerism
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...polls closed in the proxy contest. In doing so, Viacom takes home some of the crown jewels of entertainment, including the Paramount film and television studios and a library of 890 movies ranging from Wayne's World and The Firm to Sunset Boulevard. Just one month earlier, Viacom and Sumner Redstone, the company's iron-willed billionaire chairman, had looked like certain losers. But thanks to frenzied financial maneuvering and a stunning and perhaps precarious alliance with Blockbuster Entertainment Corp., the world's largest retail video-store operator, Viacom turned the battle around and put Barry Diller to rout...
...TIME: Have you talked to Sumner Redstone since the board meeting Wednesday...
...Davis: I called Barry to congratulate him and told him we had reaffirmed our recommendation for QVC, and I called Sumner and told him the same thing...
...TIME: How did they react? Sumner could not have been very happy...
...TIME: Do you think Sumner understands why you've decided to endorse Barry Diller...