Relationship Between Sumner, Shari Redstone "Shattered"

[Ian David]

Los Angeles Times | Claudia Eller | July 30, 2007 07:09 AM

Thirteen years ago, when Sumner Redstone was busy building Viacom Inc. into a media powerhouse and needed a helping hand to run the family's theater chain, he turned to his daughter, Shari Redstone, who was home raising her three children.

When theater circuits began going belly up in the late 1990s, it was Shari who kept National Amusements Inc. on track. She expanded the company globally, taking National into Russia and Latin America. She helped pioneer the upscale cinema, bringing gourmet food, bar lounges and valet parking to theaters such as the Bridge in Los Angeles.

More:
http://www.huffingtonpost.com/2007/07/30/relationship-between-sumn_n_58306.html


See also:

Father-daughter bond shattered
Sumner Redstone's move to drop Shari as the heir to his media empire has created deep wounds.
By Claudia Eller, Times Staff Writer
July 30, 2007

<snip>

In recent years, she and her father have sparred over the future of the theater business. Shari remains a true believer whereas Sumner wants to sell, viewing it as a no-growth business.

Shari never dreamed of joining the family business founded by her grandfather Mickey in the 1930s. Like her father, she practiced criminal and corporate law as her first career. After her third child was born, she stopped practicing full time. At one point, her father tried to persuade her to join National, but she turned him down.

But in 1994, while studying to be a social worker, her life shifted gears. Her 14-year marriage to Rabbi Ira Korff, who had been running National Amusements since 1987, ended. Sumner encouraged Shari to learn the business. He needed someone he trusted at a time when he was preoccupied with an acquisition drive at Viacom. She signed on as vice president of corporate planning and development.

"She surprised me how fast a learner she was," said National Chief Financial Officer Jerry Magner, who has worked at the circuit for 38 years and was hired by Sumner, his father and his brother. "She's a compassionate person — much different than her father. She's not an intimidator…. I don't know anybody who doesn't like Shari."

More:
http://www.latimes.com/entertainment/news/business/la-fi-shari30jul30,1,1815873,full.story?ctrack=2&cset=true


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[KharmaTrain]

1. So When Does Murdoch Take Over CBS???

After reading about this guy for years...from his Viacom days forward...warm and cudly aren't two words I'd associate with Redstone. For years he fought with Mel Karmazin until Mel and Howard Stern bailed out...and his broadcast empire has been reeling ever since.

CBS-TV languishes near the bottom in the ratings and its News Division has been "perkied" into oblivion. Its radio division has been melting down for years...losing Stern then Imus and draining millions to keep unprofitable operations going. This company, like most the other broadcast corporates, are collapsing under their own largess.

Virtually every large broacasting conglomerate is under seige these days...here's just another symtom of the abuses Telcom '96 created and I suspect will bring some major changes to what we see and hear in the very near future.

Stay tuned...

[Cha]

2. That reads like a big

mogul soap opera.

Is ol' sumner a bushit?

[bemildred]

3. Gee, who knew Redstone would prove to have a giant ego? nt

[On the Road]

4. So All Those Upscale Theaters

had been run by a rabbi? Who knew?

[Ian David]

5. The rabi found religion AFTER he worked for Redstone.

After he divorced his gravy trai-- I mean, wife, he had to find SOME way to pay the bills, I guess.

The religion racket is a lucrative one, especially for someone who holds themselves out as a nominee for The Messiah.