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Business Movers

Hostile Takeover: The Sumner Redstone Story | The Family Business | 1

Business Movers

Wondery

History, Business, Entrepreneurship

4.81.5K Ratings

🗓️ 27 January 2022

⏱️ 41 minutes

🧾️ Download transcript

Summary

Boston-born media executive Sumner Redstone turns a small family business into a media juggernaut, acquiring companies like Viacom, Paramount and CBS along the way, sometimes by force. But Sumner’s rise to mogul status leaves important relationships, business and familial, in shambles.

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Transcript

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0:00.0

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0:07.0

To listen to business movers one week early and add free, join Wondry Plus in the Wondry app.

0:13.0

Download the Wondry app in your Apple or Google Play mobile app store today.

0:31.0

It's March 1979 at the Coply Plaza Hotel in Boston.

0:36.0

It's late at night and two business men are in a hotel room, partying with two women who are not their wives.

0:42.0

One of the men is Boston native Sumner Redstone.

0:45.0

The 55-year-old Sumner runs National Amusements, a chain of movie theaters started by Sumner's father.

0:52.0

Tonight, Sumner is living it up with his colleague Roger Hill.

0:55.0

But for Sumner, this gathering isn't just pleasure, it's business.

0:59.0

Roger is a branch manager at Warner Brothers.

1:02.0

He's the man who decides which movie Sumner gets the screen at his theaters, which means Sumner has a vested interest in showing Roger a good time.

1:11.0

Well, here's a toast to Roger Hill, the best damn branch manager New England has ever seen.

1:16.0

Oh, God, you exhibitors. You know, the same Sumner.

1:19.0

You think you can take me out, get me drunk, and I'll just give you whatever you want.

1:23.0

Well, it's true, isn't it? Of course it is.

1:25.0

Roger pulls his date onto his lap and gives her a big kiss.

1:29.0

So tell me, pal, what does Sumner Redstone want?

1:31.0

Well, the same thing, every exhibitor in the business wants.

1:34.0

The best movie's Warner Brothers has to offer playing on my screens. I'll halt drink to that.

1:39.0

Just then, Roger's date whispers something in his ear, and Roger's eyes light up.

1:44.0

Well, excuse me, Sumner, but my date and I have some important business to attend to.

1:49.0

But I'm looking forward to continuing the conversation, Sumner. Have a nice evening.

...

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