Reading the Redstone Tea Leaves: CBS's Moonves Is Toast

Henry Blodget | April 22, 2008 10:55 AM

sumnerencouraging.jpgFavored sons and daughters float into Viacom/CBS mogul Sumner Redstone's life like sunshine after rain. Unfortunately, after a pleasant year or two, they usually get thrown right out again (including his actual sons and daughters).

A couple of quarters ago, Sumner was positively over the moon about CBS (CBS) CEO Les Moonves. But that was before CBS's stock sucked wind for another six months, Moonves gave himself a $37 million raise, and Viacom (VIAB) CEO Philippe Dauman gradually eclipsed his rival to become the apple of Sumner's eye.

The key sign Moonves's days are numbered? Yesterday, Sumner killed Viacom's deal with CBS's Showtime, announcing that it would form its own pay channel.

What will happen next? If history repeats itself, Les Moonves will soon be unceremoniously canned--perhaps for not buying Facebook (a previous Sumner protege got axed for not buying MySpace). Sumner will smoosh Viacom and CBS back together, and Philippe Dauman, the latest heir apparent, will enjoy an unobstructed moment in the Sumner sun.

By this time next year, however, if Sumner hasn't passed, Philippe himself will be done.

See Also: Viacom Bails on CBS's Showtime, Starts Own Pay Channel
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19 Comments

stone said:
Ahhhh, you're far too cynical...
Peter Kafka (URL) said:
Can't can Les for not buying facebook - it was his sister company viacom that couldn't get that deal done for a billion or so.
Henry Blodget said:
Viacom, Schmiacom. It will be something like that.
MyDog812 said:
With Les gone, the robot formerly known as Julie Chen may finally be unplugged...must have some mad-skill algorithms to account for that career trajectory! ;-)Goodbye Chen-bot!
GordoGekko said:
Props and DAP for using the word defenestrate. Maybe Les can have "Dexter" go after Dauman!!

GG
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