DOCSLIB.ORG

Profiling Gsociety's CEO, Paul Yates

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Profiling Gsociety's CEO, Paul Yates Business Profile GSociety Media Venture Unifies and Markets Gay Life (Feature starts on the Backpage) And things have taken off. In the past A short time into the new venture, Martin year, GayWired.com’s page views have risen decided he needed someone to lead the 300 percent and its membership 160 percent. company in a new direction, to be more LesbiaNation’s page views have increased cutting edge and take more chances, he says. by 1,400 percent and its membership has That resulted in the hiring of Yates, who has grown by 211 percent. What started as a small 30 years of experience in television, radio operation in one office in Miami today has and marketing. matured into a company of about 70 people “I needed a visionary, someone who had with 3,000-square-feet of office space in done this before,” Martin said. “He told me Miami and 11,000-square-feet of office and that we needed to go in a different direction production space in Hollywood. and be a media company.” Not bad for a three-year-old company GSociety scored a major coup with in the age of piles of ruined dot-com Viacom, the parent company of Showtime, companies. which produces the hit show “Queer as Folk”. Martin previously was in the financial Viacom, which calls the show its most field before starting GSociety. Though he has successful series ever, has ordered 18 new Dan Dawson. try to be all things to all people.” been out to his parents and close friends for episodes of the American version of the “I have done a lot of promos in the past Hence the different channels: 12 years, the Arkansas native made a splash British creation. year, and none have gotten people as GayWired.com for news and entertainment; three years ago when he came out to the world To publicize the partnership, GSociety interested as this tour has, and we haven’t LesbiaNation.com specifically for gay on national television while a guest on the is hitting the road with the cast of “Queer as really even advertised this,” Dawson says. women; Dance1.net for the young, urban, gay Cable News Network’s financial show Folk” for its “Beyond Babylon Tour” — after A lot of that successs can be traced to market interested in the latest dance music; “Squawk Box”. His continued involvement the bar in which much of the action is set — marketing and understanding the growing and GHighway.com and QTMagazine.com in gay issues culminated with the idea for with scheduled Florida stops in Pensacola diversity of the gay and lesbian consumer, for travel guides and information. the new company. May 25-29 and in Orlando for Gay Days Dawson says. “With these different sites, we’re able “I just felt that this would be a great Disney May 29-June 4. The tour will also “Gay people are so diverse,” he says. to define brands that appeal to the specific project for me to be involved with,” Martin visit Dallas, Houston, Chicago, Cleveland, “You have those who are into sports, those type of peopel that are at that website,” says. “I wanted a job that was more entrenched San Jose, San Diego and Long Beach, Cal., who are into dance, those who are into all Dawson says. “We’re able to fill niches in the gay community and to be involved with according to GSociety Marketing Director kinds of different things. We’re not going to within this huge niche.” a new area of the business world.” Personality Profile Express In-Depth: Profiling GSociety’s CEO, Paul Yates By Gregg Lasky Paul Yates has leapt over at least a information programming to 250 and I’m black, but I’m still a few major hurdles on his way to being stations nationally. Before that, Yates businessman.” a success, but don’t tell him that. worked for eight years in the television He has served on the Boards of “I never felt there were any strikes industry. He went from running Directors of The Whitman-Walker against me,” Yates says. stations, working in labor relations Foundation in Washington, D.C., which But Yates, who is black and gay, and human resources, to managing provides health services to the gay and has succeeded in all aspects of the celebrities such as Oprah Winfrey, Ed lesbian community; Us Helping Us, also in business world, which so often is white Bradley and Ted Koppel. Washington, D.C., which serves gay African and straight. Yates, who was born in Quebec Americans; and the National Minority AIDS “I have a brother and two sisters City, and grew up in Pennsylvania and Council, a nationwide healthcare provider. and come from a great family,” the 54- New England, credits his family for He has been a fundraiser for and year-old GSociety president says. “We supporting him when he came out in contributor to the Human Rights Campaign, were raised in such a way as to believe his early twenties. That candor about Lambda Legal Defense Fund and National that we could accomplish anything we his orientation also stretched to his Gay and Lesbian Task Force, among others. wanted.” professional life. In addition, he has participated in gay pride Yates came to GSociety with a “I was up for a job at events in Washington, D.C., Pittsburgh, New strong pedigree in marketing and Westinghouse and was meeting with York City, Miami and Atlanta as well as the management, having formed one such the chairman of the board and I told March on Washington and Stonewall 25. company in 1996 and having run one him, ‘There’s something I need to tell Yates has a Bachelor of Science degree beginning in 1988. you...I am a gay man and I have a in Education from the University of Paul Yates and cast of “Queer as Folk” “I’m a strong believer that lover.” His employer was unfazed. Pennsylvania, a Master’s in Psychology from entertainment is really very central to our go to Paris to be entertained. Entertainment Yates got the job. the University of Pittsburgh, and a PhD. in Paul Yates community,” the self-effacing Yates says. is always in vogue.” “I just didn’t want anyone in the psychology from Harvard University. Earlier “When we’re happy, we want to be Previously, Yates had spent 15 years in company thinking they could blackmail me in his career, Yates worked as an industrial entertained. When we’re sad, we want to be the broadcasting industry, overseeing about my personal life,” Yates says. “Who I psychologist and a schoolteacher. He is a entertained. If we have a lot of money, we companies that provided news and am is who I am. I’m a business man, and I’m gay, busy man, with a mission.... Conch Republic Travel Pearl’s Rainbow, ‘Key West’s Distinctive Resort For Women’ Pearl’s Rainbow is billed as “Key West’s from a major shopping area. Duval Street Distinctive Resort for Women.” They offer has quite a selection, from art galleries to t- rooms for every budget. All rooms have shirts, jewelers to sushi bars, Jimmy Buffett private baths, queen beds, color cable TV, to Ernest Hemingway. telephone, and air conditioning. Tropical Seafood is abundant and fresh, and Key decor and Bahamas fans enhance the island West’s renowned restaurants prepare an array atmosphere. of traditional and exotic international dishes. Each morning visitors can enjoy an There’s plenty of nightlife, from rock expanded continental breakfast in their air- ‘n roll to disco, from piano bars to jazz, all conditioned pavilion or poolside. within walking distance. Most guests park Their swimming pools are clothing their car when they arrive and don’t use it optional, they have several sunbathing decks, again until they leave. and the ocean is just two blocks away. Whatever your vacation needs are, the As relaxing and comfortable as the laid back island life, sun and fun, romantic guesthouse is, you’ll want to experience the or rejuvenation, pamper yourself with the rest of the island. Their full-time Concierge special atmosphere they’ve created for you can assist you plan snorkeling, scuba, at Rainbow House. kayaking, dolphin watches, parasailing, jet Pearl’s Rainbow is located at 525 United skiing, bike trails, mopeds, beaches and Street in Key West and can be reached on- women-only cruises. line at www.pearlsrainbow.com or by calling The guesthouse is just around the corner 1-800-749-6696 or 1-305-292-1450..
Load more

Recommended publications
  • Media Ownership Rules
    05-Sadler.qxd 2/3/2005 12:47 PM Page 101 5 MEDIA OWNERSHIP RULES It is the purpose of this Act, among other things, to maintain control of the United States over all the channels of interstate and foreign radio transmission, and to provide for the use of such channels, but not the ownership thereof, by persons for limited periods of time, under licenses granted by Federal author- ity, and no such license shall be construed to create any right, beyond the terms, conditions, and periods of the license. —Section 301, Communications Act of 1934 he Communications Act of 1934 reestablished the point that the public airwaves were “scarce.” They were considered a limited and precious resource and T therefore would be subject to government rules and regulations. As the Supreme Court would state in 1943,“The radio spectrum simply is not large enough to accommodate everybody. There is a fixed natural limitation upon the number of stations that can operate without interfering with one another.”1 In reality, the airwaves are infinite, but the govern- ment has made a limited number of positions available for use. In the 1930s, the broadcast industry grew steadily, and the FCC had to grapple with the issue of broadcast station ownership. The FCC felt that a diversity of viewpoints on the airwaves served the public interest and was best achieved through diversity in station ownership. Therefore, to prevent individuals or companies from controlling too many broadcast stations in one area or across the country, the FCC eventually instituted ownership rules. These rules limit how many broadcast stations a person can own in a single market or nationwide.
    [Show full text]
  • Nexstar Media Group Stations(1)
    Nexstar Media Group Stations(1) Full Full Full Market Power Primary Market Power Primary Market Power Primary Rank Market Stations Affiliation Rank Market Stations Affiliation Rank Market Stations Affiliation 2 Los Angeles, CA KTLA The CW 57 Mobile, AL WKRG CBS 111 Springfield, MA WWLP NBC 3 Chicago, IL WGN Independent WFNA The CW 112 Lansing, MI WLAJ ABC 4 Philadelphia, PA WPHL MNTV 59 Albany, NY WTEN ABC WLNS CBS 5 Dallas, TX KDAF The CW WXXA FOX 113 Sioux Falls, SD KELO CBS 6 San Francisco, CA KRON MNTV 60 Wilkes Barre, PA WBRE NBC KDLO CBS 7 DC/Hagerstown, WDVM(2) Independent WYOU CBS KPLO CBS MD WDCW The CW 61 Knoxville, TN WATE ABC 114 Tyler-Longview, TX KETK NBC 8 Houston, TX KIAH The CW 62 Little Rock, AR KARK NBC KFXK FOX 12 Tampa, FL WFLA NBC KARZ MNTV 115 Youngstown, OH WYTV ABC WTTA MNTV KLRT FOX WKBN CBS 13 Seattle, WA KCPQ(3) FOX KASN The CW 120 Peoria, IL WMBD CBS KZJO MNTV 63 Dayton, OH WDTN NBC WYZZ FOX 17 Denver, CO KDVR FOX WBDT The CW 123 Lafayette, LA KLFY CBS KWGN The CW 66 Honolulu, HI KHON FOX 125 Bakersfield, CA KGET NBC KFCT FOX KHAW FOX 129 La Crosse, WI WLAX FOX 19 Cleveland, OH WJW FOX KAII FOX WEUX FOX 20 Sacramento, CA KTXL FOX KGMD MNTV 130 Columbus, GA WRBL CBS 22 Portland, OR KOIN CBS KGMV MNTV 132 Amarillo, TX KAMR NBC KRCW The CW KHII MNTV KCIT FOX 23 St. Louis, MO KPLR The CW 67 Green Bay, WI WFRV CBS 138 Rockford, IL WQRF FOX KTVI FOX 68 Des Moines, IA WHO NBC WTVO ABC 25 Indianapolis, IN WTTV CBS 69 Roanoke, VA WFXR FOX 140 Monroe, AR KARD FOX WTTK CBS WWCW The CW WXIN FOX KTVE NBC 72 Wichita, KS
    [Show full text]
  • Epix Launches on Atlantic Broadband in Johnstown and Surrounding Areas
    EPIX LAUNCHES ON ATLANTIC BROADBAND IN JOHNSTOWN AND SURROUNDING AREAS New Service Includes Eight Premium Movie and Original Programming Channels JOHNSTOWN, Pa., – December 21, 2015 –Atlantic Broadband, the nation's 12th largest cable operator, today announced it is now offering EPIX, the premium entertainment network, in Johnstown and the surrounding service areas including Conemaugh, Davidsville, Geistown, Hollsopple, Richland, Westmont and Windber. The launch delivers thousands of movies and original programs including original documentaries, concerts and comedy specials to Atlantic Broadband customers across eight new channels: EPIX East, EPIX West, EPIX2, EPIX Drive In, EPIX East HD, EPIX West HD, EPIX 2 HD and EPIX Hits HD. “As the evolution of entertainment continues, and consumers demand more commercial-free programming, we are thrilled to partner with EPIX to deliver its premium content,” said Atlantic Broadband’s CEO and Chief Revenue Officer, David Isenberg. “This is yet another way of showcasing Atlantic Broadband’s innovation through key industry partnerships, and the commitment to the communities we serve.” “EPIX is thrilled to be partnering with Atlantic Broadband, as it continues to be a leading provider of entertainment products and services,” said Mark Greenberg, President and CEO, EPIX. “This launch expands our footprint into new markets and provides an exciting opportunity for EPIX to bring Hollywood’s biggest films and blockbuster content to Atlantic Broadband’s large base of subscribers.” A leader in multi-platform availability of the largest lineup of big movies, EPIX will provide Atlantic Broadband customers with access to thousands of titles including top blockbuster hits such as The Hunger Games: Mockingjay Part 1, Interstellar, Sponge Bob and Selma.
    [Show full text]
  • Netflix and the Development of the Internet Television Network
    Syracuse University SURFACE Dissertations - ALL SURFACE May 2016 Netflix and the Development of the Internet Television Network Laura Osur Syracuse University Follow this and additional works at: https://surface.syr.edu/etd Part of the Social and Behavioral Sciences Commons Recommended Citation Osur, Laura, "Netflix and the Development of the Internet Television Network" (2016). Dissertations - ALL. 448. https://surface.syr.edu/etd/448 This Dissertation is brought to you for free and open access by the SURFACE at SURFACE. It has been accepted for inclusion in Dissertations - ALL by an authorized administrator of SURFACE. For more information, please contact [email protected]. Abstract When Netflix launched in April 1998, Internet video was in its infancy. Eighteen years later, Netflix has developed into the first truly global Internet TV network. Many books have been written about the five broadcast networks – NBC, CBS, ABC, Fox, and the CW – and many about the major cable networks – HBO, CNN, MTV, Nickelodeon, just to name a few – and this is the fitting time to undertake a detailed analysis of how Netflix, as the preeminent Internet TV networks, has come to be. This book, then, combines historical, industrial, and textual analysis to investigate, contextualize, and historicize Netflix's development as an Internet TV network. The book is split into four chapters. The first explores the ways in which Netflix's development during its early years a DVD-by-mail company – 1998-2007, a period I am calling "Netflix as Rental Company" – lay the foundations for the company's future iterations and successes. During this period, Netflix adapted DVD distribution to the Internet, revolutionizing the way viewers receive, watch, and choose content, and built a brand reputation on consumer-centric innovation.
    [Show full text]
  • Paramount Pictures Announces Direct-To-Exhibitors Digital Cinema Deal
    Paramount Pictures Announces Direct-to-Exhibitors Digital Cinema Deal First Studio To Implement Agreement To Accelerate Expansion Of Digital Footprint HOLLYWOOD, Calif., Jan. 22 -- Paramount Pictures, a unit of Viacom Inc. (NYSE: VIA and VIA.B), today announced it has become the first studio to offer digital cinema support directly to exhibitors across the United States and Canada. The move is expected to accelerate the roll-out of digital and 3-D projection systems in theatres. The announcement was made by Jim Tharp, President of Domestic Theatrical Distribution. The deal works in parallel with previously announced agreements with DCIP (Digital Cinema Implementation Partners), Cinedigm, Kodak, and Sony but allows exhibitors to seek financing for d-cinema systems locally rather than wait for comprehensive integrator agreements, which require significantly more upfront capital, to be completed. In addition, the agreement allows exhibitors to own and control their equipment (which is required to be DCI/SMPTE compliant), and to switch to an integrator-supported agreement at a later date if desired. The new agreement also includes independent theatres that do not belong to any integrator groups. In making the announcement, Tharp said, "We are excited about the potential of more theatres offering more of Paramount's films in the highest quality digital and 3-D. Today's announcement is a good step forward to providing more audiences with the very best in movie viewing." NATO President and CEO John Fithian said, "Paramount is getting out front on this critical industry transition and we applaud them. Direct arrangements between distributors and exhibitors won't work for everyone, but for some of our members, it could make the difference in surviving and thriving in the digital era.
    [Show full text]
  • Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc
    CORE Metadata, citation and similar papers at core.ac.uk Provided by Indiana University Bloomington Maurer School of Law Federal Communications Law Journal Volume 52 | Issue 3 Article 3 5-2000 Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin President and Chief Executive Officer of CBS Corp. Summer M. Redstone Viacom Mel Karmazin CBS Follow this and additional works at: http://www.repository.law.indiana.edu/fclj Part of the Antitrust and Trade Regulation Commons, and the Communications Law Commons Recommended Citation Redstone, Summer M. and Karmazin, Mel (2000) "Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin President and Chief Executive Officer of CBS Corp.," Federal Communications Law Journal: Vol. 52: Iss. 3, Article 3. Available at: http://www.repository.law.indiana.edu/fclj/vol52/iss3/3 This Article is brought to you for free and open access by the Law School Journals at Digital Repository @ Maurer Law. It has been accepted for inclusion in Federal Communications Law Journal by an authorized administrator of Digital Repository @ Maurer Law. For more information, please contact [email protected]. Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin President and Chief Executive Officer of CBS Corp.* Viacom CBS I. INTRODUCTION ............................................................................. 499 II. DEPARTMENT OF JUSTICE REVIEW .............................................. 503 III. FEDERAL COMMUNICATIONS COMMISSION REVIEW ................... 507 I. INTRODUCTION On September 6, 1999, Viacom Inc. and CBS Corporation agreed to combine the two companies in a merger of equals. Sumner Redstone will lead the new company, to be called Viacom, in his continued role as Chairman and Chief Executive Officer, as well as majority shareholder.
    [Show full text]
  • Viacom and Sony Reach Landmark Internet Distribution Agreement
    Viacom and Sony Reach Landmark Internet Distribution Agreement Deal Marks Major Programming Agreement for Sony's Forthcoming Cloud-Based TV Service in the United States Twenty-Two Viacom Networks, including Comedy Central, MTV, Spike, VH1, Nickelodeon to be Available on New Service at Launch NEW YORK--(BUSINESS WIRE)-- Viacom (NASDAQ:VIAB)(NASDAQ:VIA) and Sony Corporation (NYSE:SNE) today announced a landmark agreement for Sony's forthcoming cloud-based TV service to carry 22 Viacom networks at launch. The deal marks Viacom's first-ever agreement to provide its networks for an Internet-based live TV and video on demand service. "Viacom always strives to create transformational opportunities that combine consumer value and technological innovation," said Philippe Dauman, President and CEO, Viacom. "Given our young, tech-savvy audiences, our networks are essential for any new distribution platform, and we're excited to be among the many programmers that will help power Sony's new service and advance a new era for television." "Our new cloud-based TV service will combine the live TV content people love most about cable with the dynamic experience they have come to expect from our network," said Andrew House, Group Executive, Network Entertainment Business, Sony Corporation. "Viacom's award-winning networks are a perfect match for our new service, ensuring that our customers will be able to access the shows they love on their favorite devices, when and how they choose." The partnership unites Sony's rapidly growing network and more than 75 million Internet-enabled Sony devices in U.S. living rooms with Viacom's content portfolio, all of which have deep connections with today's young adults.
    [Show full text]
  • Federal Communications Commission Record FCC 94-54
    9 FCC Red No. 7 Federal Communications Commission Record FCC 94-54 action, as well as further comments, and Viacom responded Before the only to the QVC comments. Shortly after more than 50.1 Federal Communications Commission percent of Paramount shareholders tendered their stock to Washington, D.C. 20554 Viacom on February 14, 1993, QVC terminated its tender offer, requested that the Commission dismiss its pending long-form applications, and indicated that it would not In re Applications of pursue its opposition to Viacom©s application.3 VIACOM INC. File Nos. BTCCT-930921KG BACKGROUND through KM 2. Revised several times since the Commission granted an STA to trustee Robinson, Viacom©s tender offer for For Commission Consent to purchase of 50.1 percent of Paramount common stock at the Transfer of Control of $107 per share constitutes the first step in a two-tiered Paramount Communications Inc. process for acquiring the entire common stock interest in Paramount. The "second step merger" involves the conver sion of the remaining 49.9 percent of Paramount common MEMORANDUM OPINION AND ORDER stock issued and outstanding into the right to receive a package of Viacom securities.4 Upon completion of the Adopted: March 8, 1994; Released: March 8, 1994 merger, National Amusements, Inc. (NAI), which currently is the single majority shareholder of Viacom, will hold 62 By the Commission: percent of the merged entity©s voting stock.5 NAI, in turn, is, and will continue to be, controlled by Sumner M. 1. On November 23, 1993, the Commission granted a Redstone, in his capacity as trustee of the Sumner M.
    [Show full text]
  • Paramount+ Announces a Mountain of Movies, Original Series and Live Sports Coming to the Service This Summer
    Paramount+ Announces a Mountain of Movies, Original Series and Live Sports Coming to the Service This Summer June 7, 2021 “Infinite” Premieres Exclusively on Paramount+ June 10, Followed by the Debut of “PAW Patrol: The Movie” on August 20, Same Day as Its Theatrical Release The Streaming Service Will Add More Than 1,000 New Movies, including “Rocketman,” “The Hustle,” “Sonic the Hedgehog,” “Mission: Impossible - Ghost Protocol,” “Footloose,” “Skyfall,” “Like a Boss,” “Star Trek Beyond,” “The Rhythm Section” and More Premium Original Series Premiering and Returning This Summer Include iCARLY, EVIL, THE GOOD FIGHT, RuPAUL’S’ DRAG RACE ALL STARS, BEHIND THE MUSIC and More Paramount+ Will Stream Hundreds of Live Soccer Matches, Including Concacaf Men’s World Cup Qualifiers, UEFA Club Competitions, Italy’s Serie A, Campeonato Brasileirão Série A, NWSL, Argentina’s Liga Profesional de Fútbol and More New Ad-Supported Plan Launches Today for $4.99 per Month, Packaging the Best in Entertainment, News and Sports at an Even More Compelling Price Point NEW YORK--(BUSINESS WIRE)--Jun. 7, 2021-- Paramount+ today announced it will significantly expand its content offering this summer, starting with the exclusive premiere of the sci-fi action film “Infinite” and introduction of more than 1,000 premium movies this week. From generation-defining films and award-winning classics to thrilling action-adventure movies and family friendly hits, the world-class movie library will be complemented by a summer slate of highly anticipated originals, plus an unrivaled sports package that includes hundreds of marquee soccer matches. The new summer slate will roll out over the next several weeks, joining Paramount+’s already extensive content portfolio that is now available to subscribers at a new low-cost tier of just $4.99/month starting today.
    [Show full text]
  • CBS-Viacom and the Effects of Media Mergers: an Economic Perspective
    Federal Communications Law Journal Volume 52 Issue 3 Article 6 5-2000 CBS-Viacom and the Effects of Media Mergers: An Economic Perspective David Waterman Indiana University Follow this and additional works at: https://www.repository.law.indiana.edu/fclj Part of the Antitrust and Trade Regulation Commons, Communications Law Commons, and the Law and Economics Commons Recommended Citation Waterman, David (2000) "CBS-Viacom and the Effects of Media Mergers: An Economic Perspective," Federal Communications Law Journal: Vol. 52 : Iss. 3 , Article 6. Available at: https://www.repository.law.indiana.edu/fclj/vol52/iss3/6 This Article is brought to you for free and open access by the Law School Journals at Digital Repository @ Maurer Law. It has been accepted for inclusion in Federal Communications Law Journal by an authorized editor of Digital Repository @ Maurer Law. For more information, please contact [email protected]. CBS-Viacom and the Effects of Media Mergers: An Economic Perspective David Waterman* I. INTRODUCTION ............................................................................. 531 II. HORIZONTAL CONCENTRATION WTrHIN PARTICULAR INDUSTRY SEGMENTS .................................................................. 534 II. VERTICAL INTEGRATION OF CONTENT AND CONDUT ................ 536 IV. CONGLOMERATE SIZE AND CONTROL OF MEDIA RESOURCES .... 540 V. THE QuALITY AND INTEGRrTY OF NEWS REPORTING .................. 542 VI. CONCLUSION ................................................................................ 544 A PPENDIX
    [Show full text]
  • Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc
    Federal Communications Law Journal Volume 52 Issue 3 Article 3 5-2000 Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin esidentPr and Chief Executive Officer of CBS Corp. Summer M. Redstone Viacom Mel Karmazin CBS Follow this and additional works at: https://www.repository.law.indiana.edu/fclj Part of the Antitrust and Trade Regulation Commons, and the Communications Law Commons Recommended Citation Redstone, Summer M. and Karmazin, Mel (2000) "Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin esidentPr and Chief Executive Officer of CBS Corp.," Federal Communications Law Journal: Vol. 52 : Iss. 3 , Article 3. Available at: https://www.repository.law.indiana.edu/fclj/vol52/iss3/3 This Article is brought to you for free and open access by the Law School Journals at Digital Repository @ Maurer Law. It has been accepted for inclusion in Federal Communications Law Journal by an authorized editor of Digital Repository @ Maurer Law. For more information, please contact [email protected]. Joint Statement of Sumner M. Redstone Chairman and Chief Executive Officer Viacom Inc. and Mel Karmazin President and Chief Executive Officer of CBS Corp.* Viacom CBS I. INTRODUCTION ............................................................................. 499 II. DEPARTMENT OF JUSTICE REVIEW .............................................. 503 III. FEDERAL COMMUNICATIONS COMMISSION REVIEW ................... 507 I. INTRODUCTION On September 6, 1999, Viacom Inc. and CBS Corporation agreed to combine the two companies in a merger of equals. Sumner Redstone will lead the new company, to be called Viacom, in his continued role as Chairman and Chief Executive Officer, as well as majority shareholder.
    [Show full text]
  • Viacom Reports Record First Quarter 2001 Results
    VIACOM REPORTS RECORD FIRST QUARTER 2001 RESULTS • Reported Revenues Increase 90% to a Record $5.75 Billion • EBITDA Up 145% to a Record $1.15 Billion, Up 15% on a Pro Forma Basis • Pro Forma Free Cash Flow Totals $648 Million, Up 20% on a Per Share Basis New York, New York, April 24, 2001 -- Viacom Inc. (NYSE: VIA and VIA.B) today reported record results for the first quarter ended March 31, 2001, led by gains in nearly every business unit including significant increases in its Cable Networks, Television and Entertainment segments. For the first quarter of 2001, Viacom’s reported revenues rose 90% to $5.75 billion from $3.03 billion in the same quarter last year, and reported EBITDA (earnings before interest, taxes, depreciation and amortization) increased 145% to $1.15 billion, from $470 million in the first quarter of 2000. Reported free cash flow for the first quarter of 2001 was $586 million, up 169% from $218 million in the same quarter last year and after-tax cash flow of $691 million climbed 114% over after-tax cash flow of $323 million for the same quarter last year. The Company considers free cash flow to be an important measure of performance because it reflects the resources available to the Company after interest, taxes and capital expenditures that can be used to invest in the business, acquire additional assets, strengthen the balance sheet and repurchase stock. Viacom’s first quarter 2001 performance was led by the sharply higher results in the Cable Networks, Television and Entertainment segments.
    [Show full text]