BEVERLY HILLS — Sumner Redstone said his CBS-Viacom empire doesn’t need a financial channel akin to CNBC or Fox Business Network, then for good measure he tossed a few insults at fellow media mogul Rupert Murdoch.
“He paid $5 billion for the Wall Street Journal without competition. And you know what? There won’t be any newspapers in a few years,” he told a crowd late Monday at the Milken Institute Global Conference.
“The difference between me and Murdoch is, he lives in ink and I live with movies and television,” Redstone said. “Ink is going to go away, and movies and television will be here forever — just like me.”
Full story: Sumner Redstone talks up CBS-Viacom