Karmazin Wanted To Buy Cnn
While Viacom chairman Sumner Redstone may fret over the company's recent inability to put together a deal to buy MySpace, the company's former President and COO, Mel Karmazin, said Thursday that he wishes he could have bought CNN from Time Warner. Speaking to a Reuters media conference in New York, Karmazin, who is now CEO of Sirius Radio, said that he had hoped Time Warner chief Dick Parson would try to add Cablevision's systems to Time-Warner cable and would sell Viacom CNN to raise the cash for the acquisition. Karmazin said that he regarded a combined CBS/CNN operation as an ideal synergy. Not only would it be able to combine news staffs in bureaus all over the world -- "that's just the cost side," he remarked -- the combined operations would have allowed "putting the reporters in other parts of the world where you don't have news bureaus."