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When Bob Met Sumner: How a Crisis at Blockbuster Brought Viacom’s CEO Together With Redstone

Bob Bakish’s entre to Viacom came in the early 1990s when the company’s future CEO was hired as a consultant by what was then Paramount Communications to help restructure its Madison Square Garden division.

Bakish worked with a range of media, publishing and consumer products clients during his years as a consultant with Booz Allen Hamilton. He once got stuck for nearly a year working on the overhaul of frozen food plant in Solon, Ohio, an assignment that made him appreciate the dynamism of the media biz all the more.

While Bakish’s Booz Allen group was working on the plan for Msg, Paramount Pictures was put up for sale in 1993. That initiated the fierce bidding war between Viacom owner Sumner Redstone and Barry Diller, the ABC, Paramount and 20th Century Fox veteran who at the time was fresh off of launching the fourth broadcast network for Rupert Murdoch.

See full article on Variety