Sumner Redstone - Revision history

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2025-10-08T11:29:42Z

I added an archive link for a dead link.

← Previous revision		Revision as of 11:29, 8 October 2025
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	\| birth_name = Sumner Murray Rothstein		\| birth_name = Sumner Murray Rothstein
	\| birth_date = {{birth date\|1923\|05\|27}}		\| birth_date = {{birth date\|1923\|05\|27}}
	\| birth_place = [[Boston]], [[Massachusetts]], US		\| birth_place = [[Boston]], Massachusetts, US
	\| death_date = {{death date and age\|2020\|08\|11\|1923\|05\|27}}		\| death_date = {{death date and age\|2020\|08\|11\|1923\|05\|27}}
	\| death_place = [[Los Angeles]], [[California]], US		\| death_place = Los Angeles, California, US
	\| burial_place = [[Sharon Memorial Park, Massachusetts\|Sharon Memorial Park]]<br>[[Sharon, Massachusetts]]		\| burial_place = [[Sharon Memorial Park, Massachusetts\|Sharon Memorial Park]]<br>[[Sharon, Massachusetts]]
	\| education = [[Boston Latin School]]		\| education = [[Boston Latin School]]
	\| alma_mater = [[Harvard University]] {{resize\|([[Bachelor of Arts\|AB]], [[Bachelor of Laws\|LLB]])}}		\| alma_mater = [[Harvard University]] {{resize\|([[Bachelor of Arts\|AB]], [[Bachelor of Laws\|LLB]])}}
			\| occupation = Businessman
	\| known_for = {{ubl\|[[National Amusements]] − Chair\|{{nobr\|[[Paramount Global\|ViacomCBS]] − Chmn. Emeritus}}}}		\| known_for = {{ubl\|[[National Amusements]] − Chair\|{{nobr\|[[Paramount Global\|ViacomCBS]] − Chmn. Emeritus}}}}
	\| spouse = {{unbulleted list\|{{marriage\|Phyllis Gloria Raphael\|1947\|1999\|reason=div.}}\|{{marriage\|Paula Fortunato\|2002\|2009\|reason=div.}}}}		\| spouse = {{unbulleted list\|{{marriage\|Phyllis Gloria Raphael\|1947\|1999\|reason=div.}}\|{{marriage\|Paula Fortunato\|2002\|2009\|reason=div.}}}}
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	==Early life and education==		==Early life and education==
	Redstone was born Sumner Murray Rothstein in 1923 in [[Boston]] to Belle (née Ostrovsky) and [[Michael Redstone\|Michael Rothstein]].<ref name="Britannica">{{Cite encyclopedia\|url=https://www.britannica.com/biography/Sumner-Redstone\|title=Sumner Redstone\|encyclopedia=Encyclopedia Britannica\|accessdate=October 15, 2023}}</ref><reF>{{harvnb\|Hagey\|2018\|p=20}}</ref> Sumner was a second-generation Bostonian; his father Michael was born in Boston in 1902 to [[Galician Jews\|Galician Jewish]] parents originally from [[Kozova]], a [[shtetl]] in [[Austria-Hungary\|Austro-Hungarian]] land now in [[Ukraine]].<ref>{{harvnb\|Hagey\|2018\|pp=14-15}}</ref> His mother Bella was also an American-born child of Jewish immigrants; her parents emigrated to the U.S. from [[Kyiv]] early in the 20th century.<ref>{{harvnb\|Hagey\|2018\|p=19}}</ref>		Redstone was born Sumner Murray Rothstein in 1923 in [[Boston]], Massachusetts, to Belle (née Ostrovsky) and [[Michael Redstone\|Michael Rothstein]].<ref name="Britannica">{{Cite encyclopedia\|url=https://www.britannica.com/biography/Sumner-Redstone\|title=Sumner Redstone\|encyclopedia=Encyclopedia Britannica\|accessdate=October 15, 2023}}</ref><reF>{{harvnb\|Hagey\|2018\|p=20}}</ref> Sumner was a second-generation Bostonian; his father Michael was born in Boston in 1902 to [[Galician Jews\|Galician Jewish]] parents originally from [[Kozova]], a [[shtetl]] in [[Austria-Hungary\|Austro-Hungarian]] land now in [[Ukraine]].<ref>{{harvnb\|Hagey\|2018\|pp=14-15}}</ref> His mother Bella was also an American-born child of Jewish immigrants; her parents emigrated to the U.S. from [[Kyiv]] early in the 20th century.<ref>{{harvnb\|Hagey\|2018\|p=19}}</ref>

	In 1940, at Sumner's behest, his father changed the family surname from "Rothstein" to "Redstone"; although Sumner credited his father for the name change, friends of the family attribute it more to Sumner.<ref>{{harvnb\|Hagey\|2018\|pp=26-27}}</reF> "Red stone" is the translation of the [[Yiddish]] name Rothstein.<ref>{{cite web\|url=http://www.filmreference.com/film/89/Sumner-Redstone.html \|title=Sumner Redstone Biography (1923–) \|publisher=Filmreference.com \|access-date=March 8, 2013}}</ref><ref>{{Cite web\|url=https://www.hollywoodreporter.com/news/sumner-redstone-dead-cbs-viacom-media-mogul-was-97-622455\|title=Sumner Redstone, Tenacious Media Mogul, Dies at 97\|website=The Hollywood Reporter\|date=August 12, 2020}}</ref> Michael Rothstein owned Northeast Theater Corporation in [[Dedham, Massachusetts]], the forerunner of [[National Amusements]], and the Boston branch of the [[Latin Quarter (nightclub)\|Latin Quarter Nightclub]].<ref>{{cite web\|url=https://www.nytimes.com/2003/04/06/style/weddings-celebrations-paula-fortunato-sumner-m-redstone.html\|title=Weddings/Celebrations: Paula Fortunato, Sumner M. Redstone\|work=The New York Times\|date=April 6, 2003\|archiveurl=https://web.archive.org/web/20090202083924/http://query.nytimes.com/gst/fullpage.html?res=9907E0D61738F935A35757C0A9659C8B63 \|archivedate=February 2, 2009\|accessdate=October 15, 2023\|url-status=live}}</ref><ref>{{harvnb\|Hagey\|2018\|pp=30, 61-63}}</ref> As a teenager, Sumner had summer jobs at his father's theaters but "had higher aspirations than the then-still-somewhat-déclassé world of theaters," wrote Keach Hagey.<ref>{{harvnb\|Hagey\|2018\|p=54}}</ref>		In 1940, at Sumner's behest, his father changed the family surname from "Rothstein" to "Redstone"; although Sumner credited his father for the name change, friends of the family attribute it more to Sumner.<ref>{{harvnb\|Hagey\|2018\|pp=26-27}}</reF> "Red stone" is the translation of the [[Yiddish]] name Rothstein.<ref>{{cite web\|url=http://www.filmreference.com/film/89/Sumner-Redstone.html \|title=Sumner Redstone Biography (1923–) \|publisher=Filmreference.com \|access-date=March 8, 2013}}</ref><ref>{{Cite web\|url=https://www.hollywoodreporter.com/news/sumner-redstone-dead-cbs-viacom-media-mogul-was-97-622455\|title=Sumner Redstone, Tenacious Media Mogul, Dies at 97\|website=The Hollywood Reporter\|date=August 12, 2020}}</ref> Michael Rothstein owned Northeast Theater Corporation in [[Dedham, Massachusetts]], the forerunner of [[National Amusements]], and the Boston branch of the [[Latin Quarter (nightclub)\|Latin Quarter Nightclub]].<ref>{{cite web\|url=https://www.nytimes.com/2003/04/06/style/weddings-celebrations-paula-fortunato-sumner-m-redstone.html\|title=Weddings/Celebrations: Paula Fortunato, Sumner M. Redstone\|work=The New York Times\|date=April 6, 2003\|archiveurl=https://web.archive.org/web/20090202083924/http://query.nytimes.com/gst/fullpage.html?res=9907E0D61738F935A35757C0A9659C8B63 \|archivedate=February 2, 2009\|accessdate=October 15, 2023\|url-status=live}}</ref><ref>{{harvnb\|Hagey\|2018\|pp=30, 61-63}}</ref> As a teenager, Sumner had summer jobs at his father's theaters but "had higher aspirations than the then-still-somewhat-déclassé world of theaters," wrote Keach Hagey.<ref>{{harvnb\|Hagey\|2018\|p=54}}</ref>
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	Redstone became CEO of National Amusements in 1967.<ref name="Britannica"/> The company had 93 theater screens (52 drive-ins and 41 indoor) when Redstone took office; within 10 years, National Amusements had nearly 250 screens.<ref>{{harvnb\|Hagey\|2018\|p=90}}</reF> After watching the first ''[[Star Wars (film)\|Star Wars]]'' film in 1977, Redstone directed National Amusements to buy a five percent stake in [[20th Century Studios\|20th Century Fox]], distributor of ''Star Wars''.<ref name="Redstone Fox">{{harvnb\|Hagey\|2018\|pp=93-94}}</ref> Having bought Fox for $8 a share, National Amusements sold Fox at $60 after [[Marvin Davis]] bought the company.<ref name="Redstone Fox"/> National Amusements' other investments in [[Columbia Pictures]], [[Orion Pictures]], and [[Paramount Pictures]] also had large returns on investment in the early 1980s.<ref>{{cite web \|title=Sumner Redstone Will Be 91 On Tuesday Now Selling Shares for Estate Planning \|url=https://jewishbusinessnews.com/2014/05/25/sumner-redstone-will-be-91-on-tuesday-now-selling-shares-for-estate-planning/ \|website=Jewish Business News \|access-date=August 15, 2020 \|date=May 25, 2014}}</ref>		Redstone became CEO of National Amusements in 1967.<ref name="Britannica"/> The company had 93 theater screens (52 drive-ins and 41 indoor) when Redstone took office; within 10 years, National Amusements had nearly 250 screens.<ref>{{harvnb\|Hagey\|2018\|p=90}}</reF> After watching the first ''[[Star Wars (film)\|Star Wars]]'' film in 1977, Redstone directed National Amusements to buy a five percent stake in [[20th Century Studios\|20th Century Fox]], distributor of ''Star Wars''.<ref name="Redstone Fox">{{harvnb\|Hagey\|2018\|pp=93-94}}</ref> Having bought Fox for $8 a share, National Amusements sold Fox at $60 after [[Marvin Davis]] bought the company.<ref name="Redstone Fox"/> National Amusements' other investments in [[Columbia Pictures]], [[Orion Pictures]], and [[Paramount Pictures]] also had large returns on investment in the early 1980s.<ref>{{cite web \|title=Sumner Redstone Will Be 91 On Tuesday Now Selling Shares for Estate Planning \|url=https://jewishbusinessnews.com/2014/05/25/sumner-redstone-will-be-91-on-tuesday-now-selling-shares-for-estate-planning/ \|website=Jewish Business News \|access-date=August 15, 2020 \|date=May 25, 2014}}</ref>

			In 2025, [[Barry Diller]] stated that Redstone regularly bribed former Paramount CEO [[Frank Yablans]], with former Paramount chairman [[Charlie Bluhdorn]] having knowledge of this.<ref>{{cite book\|title=Who Knew\|first=Barry\|last=Diller\|page=118\|publisher=Simon & Schuster\|isbn=978-1-6680-9687-1\|date=May 20, 2025}}</ref>

	===Viacom===		===Viacom===
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	===Succession===		===Succession===
	Redstone's trusts made it clear that his daughter, [[Shari Redstone]] (vice-chairwoman of the board of Viacom and CBS as well as president of National Amusements), was set to assume his role upon his death. However, a November 22, 2006, ''[[New York Times]]'' article indicated that Redstone was reconsidering his daughter's role. In 2007, they feuded publicly over issues of corporate governance and the future of the cinema chain.<ref>{{cite news\| url=https://www.boston.com/business/globe/articles/2007/09/19/redstone_says_he_relies_on_his_instinct/ \|newspaper=The Boston Globe \|first=Jenn \|last=Abelson \|title=Redstone says he relies on his instinct \|date=September 19, 2007}}</ref>		Redstone's trusts made it clear that his daughter, [[Shari Redstone]] (vice-chairwoman of the board of Viacom and CBS as well as president of National Amusements), was set to assume his role upon his death. However, a November 22, 2006, ''[[New York Times]]'' article indicated that Redstone was reconsidering his daughter's role. In 2007, they feuded publicly over issues of corporate governance and the future of the cinema chain.<ref>{{cite news\| url=https://www.boston.com/business/globe/articles/2007/09/19/redstone_says_he_relies_on_his_instinct/ \|newspaper=The Boston Globe \|first=Jenn \|last=Abelson \|title=Redstone says he relies on his instinct \|date=September 19, 2007 \|archive-url=https://web.archive.org/web/20090316074025/https://www.boston.com/business/globe/articles/2007/09/19/redstone_says_he_relies_on_his_instinct/ \|archive-date=16 March 2009}}</ref>

	Documents were made public which verify that, as part of a settlement from Sumner Redstone's first divorce, all of his stock was in [[Trust Law\|irrevocable trusts]] that was to be left for his grandchildren.<ref>{{cite news\| url=https://www.latimes.com/entertainment/news/business/la-fi-shari1oct01,1,4236064.story?coll=la-headlines-business-enter \|newspaper=Los Angeles Times \|first=Claudia \|last=Eller \|title=Redstone family rift may not be healed \|date=October 1, 2007}}</ref> On March 1, 2010, Redstone publicly confirmed that all of his stock would be left for his five grandchildren (Brandon Korff, Kimberlee Korff, Tyler Korff, Keryn Redstone, and Lauren Redstone).<ref>{{cite web\|url=https://www.cnbc.com/id/15840232?video=1428207331&play=1 \|title=Faber Exclusive: Sumner's Successor \|publisher=CNBC \|date=February 26, 2009 \|access-date=February 10, 2012}}{{dead link\|date=November 2024\|bot=medic}}{{cbignore\|bot=medic}}</ref>		Documents were made public which verify that, as part of a settlement from Sumner Redstone's first divorce, all of his stock was in [[Trust Law\|irrevocable trusts]] that was to be left for his grandchildren.<ref>{{cite news\| url=https://www.latimes.com/entertainment/news/business/la-fi-shari1oct01,1,4236064.story?coll=la-headlines-business-enter \|newspaper=Los Angeles Times \|first=Claudia \|last=Eller \|title=Redstone family rift may not be healed \|date=October 1, 2007}}</ref> On March 1, 2010, Redstone publicly confirmed that all of his stock would be left for his five grandchildren (Brandon Korff, Kimberlee Korff, Tyler Korff, Keryn Redstone, and Lauren Redstone).<ref>{{cite web\|url=https://www.cnbc.com/id/15840232?video=1428207331&play=1 \|title=Faber Exclusive: Sumner's Successor \|publisher=CNBC \|date=February 26, 2009 \|access-date=February 10, 2012}}{{dead link\|date=November 2024\|bot=medic}}{{cbignore\|bot=medic}}</ref>
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	===Holdings===		===Holdings===
	At the time of his death, Redstone owned over ~~seventy percent~~ of the [[voting interest]] of ViacomCBS. ViacomCBS was controlled by Redstone through National Amusements. Redstone sold his holdings of [[Midway Games]], of over 89 ~~percent~~, in December 2008.<ref>{{Cite web\|url=https://www.thestreet.com/investing/stocks/redstone-to-sell-control-of-midway-games-10450507\|title=Redstone to Sell Control of Midway Games\|website=TheStreet\|date=December 2008 \|language=en-US\|access-date=March 21, 2016}}</ref>		At the time of his death, Redstone owned over 70% of the [[voting interest]] of ViacomCBS. ViacomCBS was controlled by Redstone through National Amusements. Redstone sold his holdings of [[Midway Games]], of over 89%, in December 2008.<ref>{{Cite web\|url=https://www.thestreet.com/investing/stocks/redstone-to-sell-control-of-midway-games-10450507\|title=Redstone to Sell Control of Midway Games\|website=TheStreet\|date=December 2008 \|language=en-US\|access-date=March 21, 2016}}</ref>

	==Books==		==Books==
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	Viacom's broadcasting properties at the time of ''A Passion to Win''{{'}}s release included several radio stations and two TV stations: [[WBZ-TV\|WBZ CBS 4]], which had just become a CBS O&O through a merger with Westinghouse four years before Viacom and CBS merged, and [[WSBK-TV\|WSBK UPN 38]] in Redstone's hometown, Boston.<ref>{{cite web \|last1=Fox \|first1=Jeremy C. \|title=Layoffs hit WBZ-TV as ViacomCBS consolidates \|newspaper=The Boston Globe \|url=https://www.bostonglobe.com/2020/05/28/business/layoffs-hit-wbz-tv-viacomcbs-consolidates/ \|access-date=August 12, 2020 \|date=May 28, 2020}}</ref><ref>{{cite web \|title=The Boston TV Dial: WSBK-TV \|url=https://www.bostonradio.org/stations/73982 \|website=BostonRadio.org \|access-date=August 12, 2020}}</ref>		Viacom's broadcasting properties at the time of ''A Passion to Win''{{'}}s release included several radio stations and two TV stations: [[WBZ-TV\|WBZ CBS 4]], which had just become a CBS O&O through a merger with Westinghouse four years before Viacom and CBS merged, and [[WSBK-TV\|WSBK UPN 38]] in Redstone's hometown, Boston.<ref>{{cite web \|last1=Fox \|first1=Jeremy C. \|title=Layoffs hit WBZ-TV as ViacomCBS consolidates \|newspaper=The Boston Globe \|url=https://www.bostonglobe.com/2020/05/28/business/layoffs-hit-wbz-tv-viacomcbs-consolidates/ \|access-date=August 12, 2020 \|date=May 28, 2020}}</ref><ref>{{cite web \|title=The Boston TV Dial: WSBK-TV \|url=https://www.bostonradio.org/stations/73982 \|website=BostonRadio.org \|access-date=August 12, 2020}}</ref>

	In 2023 the book ''Unscripted: The Epic Battle for a Hollywood Media Empire'' was published in Cornerstone Press ([[Penguin Books]]), written by [[James B. Stewart]] and Rachel Abrams. The book tells the story of the Redstone dynasty.		In 2023, the book ''Unscripted: The Epic Battle for a Hollywood Media Empire'' was published in Cornerstone Press ([[Penguin Books]]), written by [[James B. Stewart]] and Rachel Abrams. The book tells the story of the Redstone dynasty.

	==Political views==		==Political views==
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	[[Category:Businesspeople from Boston]]		[[Category:Businesspeople from Boston]]
	[[Category:California Democrats]]		[[Category:California Democrats]]
	[[Category:Chairmen of ~~ViacomCBS~~]]		[[Category:Chairmen of Paramount Global]]
	[[Category:Film exhibitors]]		[[Category:Film exhibitors]]
	[[Category:Georgetown University Law Center alumni]]		[[Category:Georgetown University Law Center alumni]]

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2025-06-28T22:02:34Z

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← Previous revision		Revision as of 22:02, 28 June 2025
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	Redstone replaced the team of Jonathan Dolgen and [[Sherry Lansing]] in 2004.<ref>{{cite news\|url=https://www.latimes.com/archives/la-xpm-2004-nov-02-fi-paramount2-story.html \|title=Hollywood Pioneer Lansing Is Poised to Exit Paramount \|newspaper=Los Angeles Times \|date=November 2, 2004 \|access-date=February 10, 2012 \|first=Claudia \|last=Eller}}</ref> After arriving at Paramount in 2005, chairman and chief executive officer [[Brad Grey]] led a return to fortune at the box office.<ref>{{cite news\|last=Cieply \|first=Michael \|url=https://www.nytimes.com/2009/12/14/business/media/14paramount.html?pagewanted=1&ref=bradgrey \|title=Paramount Pictures Finds Long-Sought Balance \|work=[[The New York Times]] \|date=December 13, 2009 \|access-date=February 10, 2012}}</ref><ref>{{cite web\|url=https://boxofficemojo.com/studio/ \|title=2012 Market Share and Box Office Results by Movie Studio \|publisher=Boxofficemojo.com \|access-date=February 10, 2012}}</ref> He oversaw the creation or revitalization of several major franchises, including ''[[Transformers (film)\|Transformers]]'', ''[[Star Trek]]'' and ''[[Paranormal Activity (film series)\|Paranormal Activity]]''.<ref>{{harvnb\|Hagey\|2018\|pp=223, 249}}</ref><ref>{{cite web\|last=James\|first=Meg\|url=https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|title=Media mogul Sumner Redstone, whose empire included Viacom and CBS, dies at 97 \|work=Los Angeles Times\|date=August 12, 2010\|accessdate=October 17, 2023\|archiveurl=https://web.archive.org/web/20200831224500/https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|archivedate=August 31, 2020\|url-status=live}}</ref> Paramount also forged productive relationships with top-tier filmmakers and talent including [[J. J. Abrams]],<ref>{{cite news\|last=Fleming \|first=Michael \|url=https://variety.com/2009/film/features/paramount-extends-deal-with-abrams-1118001694/ \|title=Paramount extends deal with Abrams \|publisher=Variety \|date=March 26, 2009 \|access-date=February 10, 2012}}</ref> [[Michael Bay]]<ref>{{cite web \|url=http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|title=Bay Brings Genre Label to Paramount \|access-date=February 22, 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20110103020144/http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|archive-date=January 3, 2011}}</ref> and [[Martin Scorsese]].<ref>{{cite news \|url=https://www.nytimes.com/2006/11/08/business/media/08films.html \|title=A Scorsese Tie-In With Paramount in Films and TV \|newspaper=New York Times \|date=November 8, 2006 \|access-date=February 10, 2012}}</ref> The 2010 Paramount slate achieved much success with ''[[Shutter Island (film)\|Shutter Island]]'' and a ''[[True Grit (2010 film)\|True Grit]]'' remake, reaching the biggest box office totals in the storied careers of Martin Scorsese and the [[Coen Brothers]], respectively.<ref>{{cite web\|url=https://www.boxofficemojo.com/article/ed947520516/ \|title='Shutter Island' Is Scorsese's Top Movie Worldwide \|publisher=Box Office Mojo \|date=May 20, 2010 \|access-date=February 10, 2012}}</ref><ref>{{cite web \|url=https://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|title=Coen Brothers Show 'True Grit' With First $100 Million Film \|publisher=CineMovie.tv \|access-date=February 10, 2012 \|url-status=dead \|archive-url=https://web.archive.org/web/20120309152855/http://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|archive-date=March 9, 2012}}</ref> In addition, during Grey's tenure, Paramount launched its own worldwide releasing arm, [[Paramount Pictures International]], and has released acclaimed films such as ''[[An Inconvenient Truth]]'', ''[[Up in the Air (2009 film)\|Up in the Air]]'', and ''[[There Will Be Blood]]''.<ref>{{cite web\|url=https://www.prnewswire.co.uk/cgi/news/release?id=152949 \|title=Paramount Pictures and Universal Pictures to begin self-distribution of films in 15 key countries beginning in January 2007 \|publisher=Prnewswire.co.uk \|access-date=February 10, 2012}}</ref>		Redstone replaced the team of Jonathan Dolgen and [[Sherry Lansing]] in 2004.<ref>{{cite news\|url=https://www.latimes.com/archives/la-xpm-2004-nov-02-fi-paramount2-story.html \|title=Hollywood Pioneer Lansing Is Poised to Exit Paramount \|newspaper=Los Angeles Times \|date=November 2, 2004 \|access-date=February 10, 2012 \|first=Claudia \|last=Eller}}</ref> After arriving at Paramount in 2005, chairman and chief executive officer [[Brad Grey]] led a return to fortune at the box office.<ref>{{cite news\|last=Cieply \|first=Michael \|url=https://www.nytimes.com/2009/12/14/business/media/14paramount.html?pagewanted=1&ref=bradgrey \|title=Paramount Pictures Finds Long-Sought Balance \|work=[[The New York Times]] \|date=December 13, 2009 \|access-date=February 10, 2012}}</ref><ref>{{cite web\|url=https://boxofficemojo.com/studio/ \|title=2012 Market Share and Box Office Results by Movie Studio \|publisher=Boxofficemojo.com \|access-date=February 10, 2012}}</ref> He oversaw the creation or revitalization of several major franchises, including ''[[Transformers (film)\|Transformers]]'', ''[[Star Trek]]'' and ''[[Paranormal Activity (film series)\|Paranormal Activity]]''.<ref>{{harvnb\|Hagey\|2018\|pp=223, 249}}</ref><ref>{{cite web\|last=James\|first=Meg\|url=https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|title=Media mogul Sumner Redstone, whose empire included Viacom and CBS, dies at 97 \|work=Los Angeles Times\|date=August 12, 2010\|accessdate=October 17, 2023\|archiveurl=https://web.archive.org/web/20200831224500/https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|archivedate=August 31, 2020\|url-status=live}}</ref> Paramount also forged productive relationships with top-tier filmmakers and talent including [[J. J. Abrams]],<ref>{{cite news\|last=Fleming \|first=Michael \|url=https://variety.com/2009/film/features/paramount-extends-deal-with-abrams-1118001694/ \|title=Paramount extends deal with Abrams \|publisher=Variety \|date=March 26, 2009 \|access-date=February 10, 2012}}</ref> [[Michael Bay]]<ref>{{cite web \|url=http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|title=Bay Brings Genre Label to Paramount \|access-date=February 22, 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20110103020144/http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|archive-date=January 3, 2011}}</ref> and [[Martin Scorsese]].<ref>{{cite news \|url=https://www.nytimes.com/2006/11/08/business/media/08films.html \|title=A Scorsese Tie-In With Paramount in Films and TV \|newspaper=New York Times \|date=November 8, 2006 \|access-date=February 10, 2012}}</ref> The 2010 Paramount slate achieved much success with ''[[Shutter Island (film)\|Shutter Island]]'' and a ''[[True Grit (2010 film)\|True Grit]]'' remake, reaching the biggest box office totals in the storied careers of Martin Scorsese and the [[Coen Brothers]], respectively.<ref>{{cite web\|url=https://www.boxofficemojo.com/article/ed947520516/ \|title='Shutter Island' Is Scorsese's Top Movie Worldwide \|publisher=Box Office Mojo \|date=May 20, 2010 \|access-date=February 10, 2012}}</ref><ref>{{cite web \|url=https://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|title=Coen Brothers Show 'True Grit' With First $100 Million Film \|publisher=CineMovie.tv \|access-date=February 10, 2012 \|url-status=dead \|archive-url=https://web.archive.org/web/20120309152855/http://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|archive-date=March 9, 2012}}</ref> In addition, during Grey's tenure, Paramount launched its own worldwide releasing arm, [[Paramount Pictures International]], and has released acclaimed films such as ''[[An Inconvenient Truth]]'', ''[[Up in the Air (2009 film)\|Up in the Air]]'', and ''[[There Will Be Blood]]''.<ref>{{cite web\|url=https://www.prnewswire.co.uk/cgi/news/release?id=152949 \|title=Paramount Pictures and Universal Pictures to begin self-distribution of films in 15 key countries beginning in January 2007 \|publisher=Prnewswire.co.uk \|access-date=February 10, 2012}}</ref>

	He also purchased [[Blockbuster Entertainment]],<ref>{{cite web \|last1=Gruenwedel \|first1=Erik \|title=Media Mogul (and Blockbuster Video Owner) Sumner Redstone Dead at 97 – Media Play News \|date=August 12, 2020 \|url=https://www.mediaplaynews.com/media-mogul-and-blockbuster-video-owner-sumner-redstone-dead-at-97/ \|access-date=August 13, 2020}}</ref> which included [[Aaron Spelling]]'s production company and a huge library of films, much of which has been merged into Paramount Pictures. Blockbuster has now been spun off into its independent entity. Redstone acquired CBS Corporation in 2000 and then spun it off as a separate company in 2005, taking with it all of Paramount's television shows and catalog.<ref>{{cite web \|title=Viacom Completes Split Into 2 Companies \|url=https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html \|website=The New York Times \|access-date=August 15, 2020 \|date=January 2, 2006}}</ref><ref name="Sutel">{{cite news \|last1=Sutel \|first1=Seth \|title=Viacom, CBS go own ways on Wall St.\|url=https://www.newspapers.com/clip/57386878/the-orlando-sentinel/ \|access-date=August 15, 2020 \|agency=Associated Press\|work=[[The Orlando Sentinel]] \|date=January 4, 2006 \|pages=C3 \|via=[[Newspapers.com]]}} {{Open access}}</ref>		He also purchased [[Blockbuster Entertainment]],<ref>{{cite web \|last1=Gruenwedel \|first1=Erik \|title=Media Mogul (and Blockbuster Video Owner) Sumner Redstone Dead at 97 – Media Play News \|work=Media Play News \|date=August 12, 2020 \|url=https://www.mediaplaynews.com/media-mogul-and-blockbuster-video-owner-sumner-redstone-dead-at-97/ \|access-date=August 13, 2020}}</ref> which included [[Aaron Spelling]]'s production company and a huge library of films, much of which has been merged into Paramount Pictures. Blockbuster has now been spun off into its independent entity. Redstone acquired CBS Corporation in 2000 and then spun it off as a separate company in 2005, taking with it all of Paramount's television shows and catalog.<ref>{{cite web \|title=Viacom Completes Split Into 2 Companies \|url=https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html \|website=The New York Times \|access-date=August 15, 2020 \|date=January 2, 2006}}</ref><ref name="Sutel">{{cite news \|last1=Sutel \|first1=Seth \|title=Viacom, CBS go own ways on Wall St.\|url=https://www.newspapers.com/clip/57386878/the-orlando-sentinel/ \|access-date=August 15, 2020 \|agency=Associated Press\|work=[[The Orlando Sentinel]] \|date=January 4, 2006 \|pages=C3 \|via=[[Newspapers.com]]}} {{Open access}}</ref>

	In December 2005, Paramount agreed to buy [[DreamWorks SKG]] for an estimated $1.6 billion.<ref>{{harvnb\|Hagey\|2018\|p=198}}</ref> The acquisition was completed on February 1, 2006. Subsequent financing brought Viacom's investment down to $700 million. The animation studio, [[DreamWorks Animation]], was not included in the deal as it has been its own company since late 2004. However, Paramount had the rights to distribute films by DreamWorks Animation until 2013.<ref>{{cite web \|title=DreamWorks Animation Inks Distribution Deal with Fox \|url=https://www.hollywoodreporter.com/news/dreamworks-animation-inks-distribution-deal-364118 \|website=The Hollywood Reporter \|date=August 20, 2012 \|access-date=August 15, 2020 \|language=en}}</ref>		In December 2005, Paramount agreed to buy [[DreamWorks SKG]] for an estimated $1.6 billion.<ref>{{harvnb\|Hagey\|2018\|p=198}}</ref> The acquisition was completed on February 1, 2006. Subsequent financing brought Viacom's investment down to $700 million. The animation studio, [[DreamWorks Animation]], was not included in the deal as it has been its own company since late 2004. However, Paramount had the rights to distribute films by DreamWorks Animation until 2013.<ref>{{cite web \|title=DreamWorks Animation Inks Distribution Deal with Fox \|url=https://www.hollywoodreporter.com/news/dreamworks-animation-inks-distribution-deal-364118 \|website=The Hollywood Reporter \|date=August 20, 2012 \|access-date=August 15, 2020 \|language=en}}</ref>

imported>AnomieBOT: Dating maintenance tags: {{When}}

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Dating maintenance tags: {{When}}

← Previous revision		Revision as of 04:22, 2 June 2025
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	==Philanthropy==		==Philanthropy==
	Redstone contributed over $150 million to various philanthropic causes.<ref name="hollywoodreporter1">{{cite news\|url=https://www.hollywoodreporter.com/news/viacom-cbs-sumner-redstone-foxs-383710 \|title=Viacom and CBS' Sumner Redstone and Fox's Dana Walden Honored by Big Brothers Big Sisters \|work=The Hollywood Reporter \|date=October 27, 2012 \|access-date=March 8, 2013 \|first=Tamara \|last=Rawitt}}</ref>		Redstone contributed over $150 million to various philanthropic causes{{when\|date=June 2025}}.<ref name="hollywoodreporter1">{{cite news\|url=https://www.hollywoodreporter.com/news/viacom-cbs-sumner-redstone-foxs-383710 \|title=Viacom and CBS' Sumner Redstone and Fox's Dana Walden Honored by Big Brothers Big Sisters \|work=The Hollywood Reporter \|date=October 27, 2012 \|access-date=March 8, 2013 \|first=Tamara \|last=Rawitt}}</ref>
	* In April 2007, Redstone announced a commitment of $105 million in charitable grants to fund research and patient care advancements in cancer and burn recovery at three major non-profit healthcare organizations. The cash contributions of $35 million were each paid out over five years to FasterCures/The Center for Accelerating Medical Solutions, based in Washington, D.C.; the [[Cedars-Sinai]] Prostate Cancer Center in Los Angeles, California; and the [[Massachusetts General Hospital]] in [[Boston]], [[Massachusetts]].<ref>{{cite web\|url=https://www.medicalnewstoday.com/articles/68549 \|title=Sumner M. Redstone Commits $105 Million To Fund Cancer And Burn Recovery Research And Patient Care \|publisher=MedicalNewsToday.com \|access-date=March 8, 2013}}</ref>		* In April 2007, Redstone announced a commitment of $105 million in charitable grants to fund research and patient care advancements in cancer and burn recovery at three major non-profit healthcare organizations. The cash contributions of $35 million were each paid out over five years to FasterCures/The Center for Accelerating Medical Solutions, based in Washington, D.C.; the [[Cedars-Sinai]] Prostate Cancer Center in Los Angeles, California; and the [[Massachusetts General Hospital]] in [[Boston]], [[Massachusetts]].<ref>{{cite web\|url=https://www.medicalnewstoday.com/articles/68549 \|title=Sumner M. Redstone Commits $105 Million To Fund Cancer And Burn Recovery Research And Patient Care \|publisher=MedicalNewsToday.com \|access-date=March 8, 2013}}</ref>
	* Up to at least 2012, Redstone contributed $1.5 million to the Global Poverty Project.<ref name="hollywoodreporter1"/>		* Up to at least 2012, Redstone contributed $1.5 million to the Global Poverty Project.<ref name="hollywoodreporter1"/>

imported>Citation bot: Add: work, authors 1-1. Removed parameters. Some additions/deletions were parameter name changes. | Use this bot. Report bugs. | Suggested by Abductive | Category:Boston Latin School alumni | #UCB_Category 152/225

2025-05-09T15:58:57Z

Add: work, authors 1-1. Removed parameters. Some additions/deletions were parameter name changes. | Use this bot. Report bugs. | Suggested by Abductive | Category:Boston Latin School alumni | #UCB_Category 152/225

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← Previous revision		Revision as of 22:02, 28 June 2025
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	Redstone replaced the team of Jonathan Dolgen and [[Sherry Lansing]] in 2004.<ref>{{cite news\|url=https://www.latimes.com/archives/la-xpm-2004-nov-02-fi-paramount2-story.html \|title=Hollywood Pioneer Lansing Is Poised to Exit Paramount \|newspaper=Los Angeles Times \|date=November 2, 2004 \|access-date=February 10, 2012 \|first=Claudia \|last=Eller}}</ref> After arriving at Paramount in 2005, chairman and chief executive officer [[Brad Grey]] led a return to fortune at the box office.<ref>{{cite news\|last=Cieply \|first=Michael \|url=https://www.nytimes.com/2009/12/14/business/media/14paramount.html?pagewanted=1&ref=bradgrey \|title=Paramount Pictures Finds Long-Sought Balance \|work=[[The New York Times]] \|date=December 13, 2009 \|access-date=February 10, 2012}}</ref><ref>{{cite web\|url=https://boxofficemojo.com/studio/ \|title=2012 Market Share and Box Office Results by Movie Studio \|publisher=Boxofficemojo.com \|access-date=February 10, 2012}}</ref> He oversaw the creation or revitalization of several major franchises, including ''[[Transformers (film)\|Transformers]]'', ''[[Star Trek]]'' and ''[[Paranormal Activity (film series)\|Paranormal Activity]]''.<ref>{{harvnb\|Hagey\|2018\|pp=223, 249}}</ref><ref>{{cite web\|last=James\|first=Meg\|url=https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|title=Media mogul Sumner Redstone, whose empire included Viacom and CBS, dies at 97 \|work=Los Angeles Times\|date=August 12, 2010\|accessdate=October 17, 2023\|archiveurl=https://web.archive.org/web/20200831224500/https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|archivedate=August 31, 2020\|url-status=live}}</ref> Paramount also forged productive relationships with top-tier filmmakers and talent including [[J. J. Abrams]],<ref>{{cite news\|last=Fleming \|first=Michael \|url=https://variety.com/2009/film/features/paramount-extends-deal-with-abrams-1118001694/ \|title=Paramount extends deal with Abrams \|publisher=Variety \|date=March 26, 2009 \|access-date=February 10, 2012}}</ref> [[Michael Bay]]<ref>{{cite web \|url=http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|title=Bay Brings Genre Label to Paramount \|access-date=February 22, 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20110103020144/http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|archive-date=January 3, 2011}}</ref> and [[Martin Scorsese]].<ref>{{cite news \|url=https://www.nytimes.com/2006/11/08/business/media/08films.html \|title=A Scorsese Tie-In With Paramount in Films and TV \|newspaper=New York Times \|date=November 8, 2006 \|access-date=February 10, 2012}}</ref> The 2010 Paramount slate achieved much success with ''[[Shutter Island (film)\|Shutter Island]]'' and a ''[[True Grit (2010 film)\|True Grit]]'' remake, reaching the biggest box office totals in the storied careers of Martin Scorsese and the [[Coen Brothers]], respectively.<ref>{{cite web\|url=https://www.boxofficemojo.com/article/ed947520516/ \|title='Shutter Island' Is Scorsese's Top Movie Worldwide \|publisher=Box Office Mojo \|date=May 20, 2010 \|access-date=February 10, 2012}}</ref><ref>{{cite web \|url=https://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|title=Coen Brothers Show 'True Grit' With First $100 Million Film \|publisher=CineMovie.tv \|access-date=February 10, 2012 \|url-status=dead \|archive-url=https://web.archive.org/web/20120309152855/http://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|archive-date=March 9, 2012}}</ref> In addition, during Grey's tenure, Paramount launched its own worldwide releasing arm, [[Paramount Pictures International]], and has released acclaimed films such as ''[[An Inconvenient Truth]]'', ''[[Up in the Air (2009 film)\|Up in the Air]]'', and ''[[There Will Be Blood]]''.<ref>{{cite web\|url=https://www.prnewswire.co.uk/cgi/news/release?id=152949 \|title=Paramount Pictures and Universal Pictures to begin self-distribution of films in 15 key countries beginning in January 2007 \|publisher=Prnewswire.co.uk \|access-date=February 10, 2012}}</ref>		Redstone replaced the team of Jonathan Dolgen and [[Sherry Lansing]] in 2004.<ref>{{cite news\|url=https://www.latimes.com/archives/la-xpm-2004-nov-02-fi-paramount2-story.html \|title=Hollywood Pioneer Lansing Is Poised to Exit Paramount \|newspaper=Los Angeles Times \|date=November 2, 2004 \|access-date=February 10, 2012 \|first=Claudia \|last=Eller}}</ref> After arriving at Paramount in 2005, chairman and chief executive officer [[Brad Grey]] led a return to fortune at the box office.<ref>{{cite news\|last=Cieply \|first=Michael \|url=https://www.nytimes.com/2009/12/14/business/media/14paramount.html?pagewanted=1&ref=bradgrey \|title=Paramount Pictures Finds Long-Sought Balance \|work=[[The New York Times]] \|date=December 13, 2009 \|access-date=February 10, 2012}}</ref><ref>{{cite web\|url=https://boxofficemojo.com/studio/ \|title=2012 Market Share and Box Office Results by Movie Studio \|publisher=Boxofficemojo.com \|access-date=February 10, 2012}}</ref> He oversaw the creation or revitalization of several major franchises, including ''[[Transformers (film)\|Transformers]]'', ''[[Star Trek]]'' and ''[[Paranormal Activity (film series)\|Paranormal Activity]]''.<ref>{{harvnb\|Hagey\|2018\|pp=223, 249}}</ref><ref>{{cite web\|last=James\|first=Meg\|url=https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|title=Media mogul Sumner Redstone, whose empire included Viacom and CBS, dies at 97 \|work=Los Angeles Times\|date=August 12, 2010\|accessdate=October 17, 2023\|archiveurl=https://web.archive.org/web/20200831224500/https://www.latimes.com/obituaries/story/2020-08-12/la-me-sumner-redstone-dies\|archivedate=August 31, 2020\|url-status=live}}</ref> Paramount also forged productive relationships with top-tier filmmakers and talent including [[J. J. Abrams]],<ref>{{cite news\|last=Fleming \|first=Michael \|url=https://variety.com/2009/film/features/paramount-extends-deal-with-abrams-1118001694/ \|title=Paramount extends deal with Abrams \|publisher=Variety \|date=March 26, 2009 \|access-date=February 10, 2012}}</ref> [[Michael Bay]]<ref>{{cite web \|url=http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|title=Bay Brings Genre Label to Paramount \|access-date=February 22, 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20110103020144/http://weblogs.variety.com/bfdealmemo/2009/10/bay-brings-genre-label-to-paramount.html \|archive-date=January 3, 2011}}</ref> and [[Martin Scorsese]].<ref>{{cite news \|url=https://www.nytimes.com/2006/11/08/business/media/08films.html \|title=A Scorsese Tie-In With Paramount in Films and TV \|newspaper=New York Times \|date=November 8, 2006 \|access-date=February 10, 2012}}</ref> The 2010 Paramount slate achieved much success with ''[[Shutter Island (film)\|Shutter Island]]'' and a ''[[True Grit (2010 film)\|True Grit]]'' remake, reaching the biggest box office totals in the storied careers of Martin Scorsese and the [[Coen Brothers]], respectively.<ref>{{cite web\|url=https://www.boxofficemojo.com/article/ed947520516/ \|title='Shutter Island' Is Scorsese's Top Movie Worldwide \|publisher=Box Office Mojo \|date=May 20, 2010 \|access-date=February 10, 2012}}</ref><ref>{{cite web \|url=https://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|title=Coen Brothers Show 'True Grit' With First $100 Million Film \|publisher=CineMovie.tv \|access-date=February 10, 2012 \|url-status=dead \|archive-url=https://web.archive.org/web/20120309152855/http://www.cinemovie.tv/cinemovie_new/interviews/72-celebrity-interviews-movies-new-box-office-articles/1133-true-grit-joel-ethan-coen-film-history \|archive-date=March 9, 2012}}</ref> In addition, during Grey's tenure, Paramount launched its own worldwide releasing arm, [[Paramount Pictures International]], and has released acclaimed films such as ''[[An Inconvenient Truth]]'', ''[[Up in the Air (2009 film)\|Up in the Air]]'', and ''[[There Will Be Blood]]''.<ref>{{cite web\|url=https://www.prnewswire.co.uk/cgi/news/release?id=152949 \|title=Paramount Pictures and Universal Pictures to begin self-distribution of films in 15 key countries beginning in January 2007 \|publisher=Prnewswire.co.uk \|access-date=February 10, 2012}}</ref>

	He also purchased [[Blockbuster Entertainment]],<ref>{{cite web \|last1=Gruenwedel \|first1=Erik \|title=Media Mogul (and Blockbuster Video Owner) Sumner Redstone Dead at 97 – Media Play News \|date=August 12, 2020 \|url=https://www.mediaplaynews.com/media-mogul-and-blockbuster-video-owner-sumner-redstone-dead-at-97/ \|access-date=August 13, 2020}}</ref> which included [[Aaron Spelling]]'s production company and a huge library of films, much of which has been merged into Paramount Pictures. Blockbuster has now been spun off into its independent entity. Redstone acquired CBS Corporation in 2000 and then spun it off as a separate company in 2005, taking with it all of Paramount's television shows and catalog.<ref>{{cite web \|title=Viacom Completes Split Into 2 Companies \|url=https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html \|website=The New York Times \|access-date=August 15, 2020 \|date=January 2, 2006}}</ref><ref name="Sutel">{{cite news \|last1=Sutel \|first1=Seth \|title=Viacom, CBS go own ways on Wall St.\|url=https://www.newspapers.com/clip/57386878/the-orlando-sentinel/ \|access-date=August 15, 2020 \|agency=Associated Press\|work=[[The Orlando Sentinel]] \|date=January 4, 2006 \|pages=C3 \|via=[[Newspapers.com]]}} {{Open access}}</ref>		He also purchased [[Blockbuster Entertainment]],<ref>{{cite web \|last1=Gruenwedel \|first1=Erik \|title=Media Mogul (and Blockbuster Video Owner) Sumner Redstone Dead at 97 – Media Play News \|work=Media Play News \|date=August 12, 2020 \|url=https://www.mediaplaynews.com/media-mogul-and-blockbuster-video-owner-sumner-redstone-dead-at-97/ \|access-date=August 13, 2020}}</ref> which included [[Aaron Spelling]]'s production company and a huge library of films, much of which has been merged into Paramount Pictures. Blockbuster has now been spun off into its independent entity. Redstone acquired CBS Corporation in 2000 and then spun it off as a separate company in 2005, taking with it all of Paramount's television shows and catalog.<ref>{{cite web \|title=Viacom Completes Split Into 2 Companies \|url=https://www.nytimes.com/2006/01/02/business/media/viacom-completes-split-into-2-companies.html \|website=The New York Times \|access-date=August 15, 2020 \|date=January 2, 2006}}</ref><ref name="Sutel">{{cite news \|last1=Sutel \|first1=Seth \|title=Viacom, CBS go own ways on Wall St.\|url=https://www.newspapers.com/clip/57386878/the-orlando-sentinel/ \|access-date=August 15, 2020 \|agency=Associated Press\|work=[[The Orlando Sentinel]] \|date=January 4, 2006 \|pages=C3 \|via=[[Newspapers.com]]}} {{Open access}}</ref>

	In December 2005, Paramount agreed to buy [[DreamWorks SKG]] for an estimated $1.6 billion.<ref>{{harvnb\|Hagey\|2018\|p=198}}</ref> The acquisition was completed on February 1, 2006. Subsequent financing brought Viacom's investment down to $700 million. The animation studio, [[DreamWorks Animation]], was not included in the deal as it has been its own company since late 2004. However, Paramount had the rights to distribute films by DreamWorks Animation until 2013.<ref>{{cite web \|title=DreamWorks Animation Inks Distribution Deal with Fox \|url=https://www.hollywoodreporter.com/news/dreamworks-animation-inks-distribution-deal-364118 \|website=The Hollywood Reporter \|date=August 20, 2012 \|access-date=August 15, 2020 \|language=en}}</ref>		In December 2005, Paramount agreed to buy [[DreamWorks SKG]] for an estimated $1.6 billion.<ref>{{harvnb\|Hagey\|2018\|p=198}}</ref> The acquisition was completed on February 1, 2006. Subsequent financing brought Viacom's investment down to $700 million. The animation studio, [[DreamWorks Animation]], was not included in the deal as it has been its own company since late 2004. However, Paramount had the rights to distribute films by DreamWorks Animation until 2013.<ref>{{cite web \|title=DreamWorks Animation Inks Distribution Deal with Fox \|url=https://www.hollywoodreporter.com/news/dreamworks-animation-inks-distribution-deal-364118 \|website=The Hollywood Reporter \|date=August 20, 2012 \|access-date=August 15, 2020 \|language=en}}</ref>