meta_pixel
Tapesearch Logo
Log in
Motley Fool Money

Paramount: The House of Redstone

Motley Fool Money

The Motley Fool

Business, Investing

4.43K Ratings

🗓️ 5 March 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

It’s one thing to hear that money doesn’t buy happiness. It's another to find that out after wiring $90 million dollars to two separate romantic partners in one afternoon.

James B. Stewart and Rachel Abrams are the co-authors of “Unscripted: The Epic Battle for a Media Empire and the Redstone Family Legacy.” They joined Catie Peiper to discuss:
- How billionaires try to bend reality
- If Paramount chair Shari Redstone can innovate in a new media landscape
- Problems with CEO succession at media companies

Companies discussed: PARA, DIS

Host: Catie Peiper
Guests: James B. Stewart, Rachel Stewart
Producer: Ricky Mulvey
Engineer: Tim Sparks

Transcript

Click on a timestamp to play from that location

0:00.0

In terms of her business judgment in a cumin, I think it's fair to say that we do know.

0:05.7

I mean, she was pushing to merge the Vycom and the CVS companies into one larger company.

0:12.6

And I think she's pretty much been vindicated on that. There was no question today with the rise

0:17.4

of the giant streaming services that, you know, size and scale in the entertainment industry now

0:23.9

counts for more than it probably ever has in the past.

0:30.5

I'm Chris Hill and that's James B. Stewart, a Pulitzer prize-winning columnist at the New York

0:35.9

Times and co-author of the new book, Unscripted, the epic battle for a media empire and the redstone

0:43.2

family legacy. Warren Buffett made a clear bet on this company's future. Berkshire Hathaway

0:49.2

owns 91 million shares of Paramount Global, the resulting media empire at the center of this book.

0:55.8

My colleague Katie Piper caught up with Stewart and co-author Rachel Abrams to talk about the

1:01.0

challenges facing Paramount Global's current chair, Sherry Redstone, and stories involving the

1:06.4

media conglomerates founder, who just happens to be her father, some near Redstone, like the time he

1:11.8

fired Tom Cruise after a bad interview. So there are so many riveting threads from your book that I

1:22.0

could highlight for our audience. I was absolutely gripped while I was reading through it.

1:25.8

There's made for reality TV drama of some some near Redstone's romantic affairs to the behind-the-scenes

1:32.8

politics of CBS and Viacombs boardrooms, politics that as a consumer I realized affected all of us.

1:39.4

But yet the thing that struck me most was just the tragic figure of Redstone at the end of his life.

1:46.4

Here's this billionaire mogul who built this vast empire and was often fairly brazen in his

1:52.7

attitude. And yet you guys kept relating these stories of him crying and his

1:57.9

astrangement from his family. Not to start us off with such a hot topic, but what would you

2:03.4

guys say he regretted most towards the end of his life? Well certainly, I mean one of the things

2:08.4

that was like it was really interesting to experience it while working on this book is here is a guy

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from The Motley Fool, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Motley Fool and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.