General News

Redstone denies rift with Karmazin

Nov 19, 2001 | 1:05pm EST

Viacom Chairman and CEO Sumner Redstone has denied reports of a rift between him and Viacom President and COO Mel Karmazin.

In an interview appearing in Sunday's Los Angeles Times, Redstone remarked, "There is no rift. It's a myth."

Asked how he would react if Karmazin asks to become CEO when his contract comes up for renewal in two years (and when Redstone turns 80), Redstone replied: "Mel is doing a fine job. He's doing just as well as I expected or better. But I'm not going to give up my job. ... I think it would be very destabilizing to name any successor at this time. But I wouldn't denigrate Mel because he doesn't deserve denigration. He deserves praise."

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