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The media mogul who fired Tom Cruise and passed on Facebook

The media mogul who fired Tom Cruise and passed on Facebook

Sumner Redstone began with a string of drive-in movie theatres and ended up with a media giant worth $110 billion at its peak.

Sumner Redstone, pictured in 1999, was the main architect of media giant ViacomCBS.  AP

Sumner Redstone belonged to the Age of the Media Mogul, a time before Apple, Facebook, Amazon and Google, when street-smart executives like Rupert Murdoch, Barry Diller and John Malone brawled in a bid to dominate the world's screen time.

That era is all but done. The swashbucklers have essentially ceded the Hollywood stage to a group of cool-headed executives who like to give the impression they earn their billions more through their knowledge of algorithms than with the brutal tactics of corporate warfare.

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Original URL: https://www.afr.com/world/north-america/the-media-mogul-who-fired-tom-cruise-and-passed-on-facebook-20200813-p55l7g