WEBVTT - 'Unscripted' Book Authors Offer Lessons on Redstone Succession Drama

0:00:08.039 --> 0:00:11.319
<v Speaker 1>Welcome to another episode of Strictly Business, the podcast in

0:00:11.360 --> 0:00:13.760
<v Speaker 1>which we speak with some of the brightest minds working

0:00:13.800 --> 0:00:17.520
<v Speaker 1>in the media business. Today, I'm Andrew Wallenstein with Variety.

0:00:18.360 --> 0:00:20.440
<v Speaker 1>A new book is out that is sure to get

0:00:20.480 --> 0:00:24.480
<v Speaker 1>Hollywood talking about one of its most gossiped family empires,

0:00:24.840 --> 0:00:28.840
<v Speaker 1>The red Stones. Unscripted, The Battle for a Media Empire

0:00:28.920 --> 0:00:32.360
<v Speaker 1>and the red Stone Family Legacy reveals the behind the

0:00:32.400 --> 0:00:37.040
<v Speaker 1>scenes battles that ripped through Viacom and CBS before their merger.

0:00:37.040 --> 0:00:41.280
<v Speaker 1>In I'm happy to have the book's Pulitzer winning authors

0:00:41.320 --> 0:00:44.720
<v Speaker 1>with me today, Jim Stewart and Rachel Abrams. I'll be

0:00:44.760 --> 0:00:54.640
<v Speaker 1>back with them in just a moment. I'm back with

0:00:54.720 --> 0:00:57.160
<v Speaker 1>Jim Stewart, author of quite a few books that have

0:00:57.360 --> 0:01:01.480
<v Speaker 1>penetrated the corridors of power from politics to big business,

0:01:02.000 --> 0:01:04.200
<v Speaker 1>and Rachel Abrams, who was part of the team of

0:01:04.240 --> 0:01:08.480
<v Speaker 1>investigative journalists who dug into the Harvey Weinstein scandal for

0:01:08.520 --> 0:01:11.360
<v Speaker 1>The New York Times, where both she and Jim work

0:01:11.880 --> 0:01:15.400
<v Speaker 1>full disclosure. Rachel used to work with me here at Variety,

0:01:15.440 --> 0:01:17.759
<v Speaker 1>but as she knows, that doesn't mean I will take

0:01:17.760 --> 0:01:21.640
<v Speaker 1>it easy on her one bit. Welcome guys, Thank you

0:01:21.720 --> 0:01:24.600
<v Speaker 1>so much. Andy, Yeah, thanks and h thanks for having

0:01:24.680 --> 0:01:29.080
<v Speaker 1>us so unscripted tells the story of both Sumner Redstone,

0:01:29.120 --> 0:01:32.880
<v Speaker 1>the founding father of the Viacom Empire, and Leslie Moonvez,

0:01:33.160 --> 0:01:37.160
<v Speaker 1>who had an extraordinary run at CBS. Both men, however,

0:01:37.440 --> 0:01:41.640
<v Speaker 1>ended their otherwise illustrious careers in pretty messy fashion, as

0:01:41.640 --> 0:01:45.080
<v Speaker 1>you document so well here and Jim, I wanted to

0:01:45.120 --> 0:01:47.240
<v Speaker 1>start with you. You know, there's been a lot of

0:01:47.280 --> 0:01:50.840
<v Speaker 1>inks billed on both of these gentlemen. What were you

0:01:50.920 --> 0:01:53.680
<v Speaker 1>looking for that wasn't already out there? What made you

0:01:53.720 --> 0:01:56.640
<v Speaker 1>think there was more story to tell? Well? I had

0:01:56.680 --> 0:01:58.920
<v Speaker 1>done a lot of reporting, as had Rachel about what

0:01:59.040 --> 0:02:00.760
<v Speaker 1>was going on in the scene yes board at the

0:02:00.760 --> 0:02:04.520
<v Speaker 1>time of moon vezus Oustair and I knew even though

0:02:04.560 --> 0:02:05.960
<v Speaker 1>we had done some reporting in this one the New

0:02:06.000 --> 0:02:08.240
<v Speaker 1>York Times, there were still a lot of unanswered questions.

0:02:08.240 --> 0:02:09.880
<v Speaker 1>So I was I really wanted to get to the

0:02:09.919 --> 0:02:11.920
<v Speaker 1>bottom of that. I think we were both kind of

0:02:11.960 --> 0:02:14.480
<v Speaker 1>thinking of it initially as the whole meat too movement

0:02:14.800 --> 0:02:18.880
<v Speaker 1>collides with, you know, the boardroom culture in corporate America

0:02:19.040 --> 0:02:21.600
<v Speaker 1>as we saw it as CB a guest. Then, as

0:02:21.639 --> 0:02:24.280
<v Speaker 1>we worked on the story and we gained more access.

0:02:24.840 --> 0:02:27.680
<v Speaker 1>First of all, we got incredible access to documents that

0:02:27.720 --> 0:02:30.480
<v Speaker 1>weren't disclosed in the book from the boardroom. But we

0:02:30.560 --> 0:02:35.040
<v Speaker 1>also started getting more and more information from the staff,

0:02:35.080 --> 0:02:39.240
<v Speaker 1>the nurses inside the Sumner Redstone mansion that also had

0:02:39.240 --> 0:02:42.880
<v Speaker 1>not been reported, and we realized at some point the

0:02:42.919 --> 0:02:46.959
<v Speaker 1>story was bigger than that. Wasn't just a corporate boardroom

0:02:47.040 --> 0:02:49.840
<v Speaker 1>meets me too. It was also a family drama that

0:02:49.919 --> 0:02:52.880
<v Speaker 1>was very, very significant. And we had Sherry Redstone, the daughter,

0:02:53.080 --> 0:02:57.800
<v Speaker 1>the much underappreciated, to put it mildly, daughter of Sumner Redstone,

0:02:57.960 --> 0:03:02.160
<v Speaker 1>the rust into a world not of her choosing uh

0:03:02.280 --> 0:03:05.040
<v Speaker 1>in an attempt to gain control of the companies and

0:03:05.120 --> 0:03:08.640
<v Speaker 1>the family legacy. So that became the much bigger story.

0:03:08.639 --> 0:03:10.720
<v Speaker 1>That kind of is a corporate story, is a me

0:03:10.800 --> 0:03:12.960
<v Speaker 1>too story, but it's much bigger than that. Ultimately, I

0:03:12.960 --> 0:03:16.519
<v Speaker 1>think it's a family drama. So, Rachel, could you explain

0:03:16.600 --> 0:03:20.600
<v Speaker 1>from me, in light of all this documentation and other

0:03:20.760 --> 0:03:24.400
<v Speaker 1>disclosures that came out and you're reporting, is there any

0:03:24.440 --> 0:03:27.920
<v Speaker 1>one thing that people are going to be surprised by

0:03:27.960 --> 0:03:31.079
<v Speaker 1>that they didn't know from earlier reporting new new light

0:03:31.200 --> 0:03:33.720
<v Speaker 1>that this book sheds. Well, I can tell you the

0:03:33.720 --> 0:03:37.280
<v Speaker 1>one thing I was not surprised by, really shocked by,

0:03:37.600 --> 0:03:41.640
<v Speaker 1>was the sort of the level of alleged elder abuse

0:03:41.880 --> 0:03:44.480
<v Speaker 1>that Sumner Redstone suffered towards the end of his life.

0:03:44.480 --> 0:03:46.240
<v Speaker 1>And the reason why I say it was shocked by

0:03:46.240 --> 0:03:49.840
<v Speaker 1>this but not surprised, is that, you know, we for

0:03:50.000 --> 0:03:52.400
<v Speaker 1>somebody like him, with all of his money and all

0:03:52.400 --> 0:03:55.280
<v Speaker 1>of his resources, you would think that, you know, he

0:03:55.320 --> 0:03:57.840
<v Speaker 1>would be somewhat insulated from people who were trying to

0:03:57.880 --> 0:04:00.520
<v Speaker 1>take advantage of him. But the fact that you know,

0:04:00.800 --> 0:04:03.640
<v Speaker 1>he these two women, men Will Hurtser and Sydney Holland,

0:04:03.680 --> 0:04:07.040
<v Speaker 1>were able to to insinuate themselves into his life and

0:04:07.080 --> 0:04:09.680
<v Speaker 1>to his mansion, into his finances and nearly gained control.

0:04:10.320 --> 0:04:13.640
<v Speaker 1>It just goes to show you that, I mean, frankly,

0:04:13.880 --> 0:04:15.520
<v Speaker 1>you know, if it could happen to sun To Redstone,

0:04:15.560 --> 0:04:17.880
<v Speaker 1>why couldn't it happen to to somebody in your family?

0:04:17.960 --> 0:04:20.560
<v Speaker 1>And one could argue that his wealth made him a

0:04:20.600 --> 0:04:23.760
<v Speaker 1>target of people who were trying to get gain an

0:04:23.800 --> 0:04:26.520
<v Speaker 1>upper hand or get rich or whatever, but you know,

0:04:26.720 --> 0:04:29.160
<v Speaker 1>just frankly, just the level to which people were able

0:04:29.200 --> 0:04:33.040
<v Speaker 1>to succeed and siphon away millions of dollars from him. Um.

0:04:33.279 --> 0:04:36.640
<v Speaker 1>I found that really really sort of amazing. And when

0:04:36.640 --> 0:04:39.160
<v Speaker 1>you say millions of dollars, I think the one thing

0:04:39.200 --> 0:04:41.680
<v Speaker 1>that's stuck from stuck with me from this book was

0:04:42.120 --> 0:04:47.480
<v Speaker 1>one hundred and fifty million dollars between Hurtzer and Holland

0:04:47.880 --> 0:04:53.640
<v Speaker 1>I didn't realize it was. I was just absolutely flabbergasted

0:04:53.720 --> 0:04:57.240
<v Speaker 1>by that. And I think to your point, in a way,

0:04:57.279 --> 0:05:01.440
<v Speaker 1>the story of Redstone reminded me of celebrities like Michael

0:05:01.480 --> 0:05:04.320
<v Speaker 1>Jackson or Whitney Houston, where the wealth that you would

0:05:04.320 --> 0:05:08.160
<v Speaker 1>think would be the installation actually becomes a prison of sorts.

0:05:08.960 --> 0:05:12.200
<v Speaker 1>And it just got me thinking, is there going to

0:05:12.320 --> 0:05:17.920
<v Speaker 1>be a legal legacy from what has transpired here, Jim,

0:05:17.960 --> 0:05:21.480
<v Speaker 1>in terms of like preventing this kind of activity from

0:05:21.520 --> 0:05:26.279
<v Speaker 1>happening to moguls or whoever could be taken advantage of

0:05:26.360 --> 0:05:29.320
<v Speaker 1>like this. Well, I think you see in the story.

0:05:29.720 --> 0:05:31.440
<v Speaker 1>I wish I could say, yes that there would be

0:05:31.440 --> 0:05:33.680
<v Speaker 1>a lot of cogress on this, but not really. The

0:05:34.640 --> 0:05:37.840
<v Speaker 1>you know, the the Los Angeles Protective Service here, which

0:05:37.839 --> 0:05:43.279
<v Speaker 1>supposedly investigative this did a laughably incomplete job. They never

0:05:43.360 --> 0:05:46.679
<v Speaker 1>even interviewed the staff members who filed the compliance about

0:05:46.680 --> 0:05:50.719
<v Speaker 1>the elder abews there were lawsuits that might have yielded

0:05:50.760 --> 0:05:55.120
<v Speaker 1>some significant rulings had they gone to completion, but for

0:05:55.200 --> 0:05:57.640
<v Speaker 1>reasons that are clear than the story, both sides wanted

0:05:57.680 --> 0:06:01.320
<v Speaker 1>to settle this so that never jually went to trial.

0:06:01.480 --> 0:06:04.920
<v Speaker 1>And I'm sorry to say, probably some of you going

0:06:05.000 --> 0:06:07.120
<v Speaker 1>to read this and look at you know, what happened

0:06:07.160 --> 0:06:11.000
<v Speaker 1>to the companions of Sumners, you know, Sydney and manuelas

0:06:11.120 --> 0:06:15.279
<v Speaker 1>Rachel mentioned, and say, look, it paid off for them. They,

0:06:15.560 --> 0:06:17.520
<v Speaker 1>by the way, a hundred fifty million, which I agree

0:06:17.560 --> 0:06:20.159
<v Speaker 1>is shocking. That's kind of the bottom line. It was

0:06:20.200 --> 0:06:22.400
<v Speaker 1>at least a hundred fifty million. I think there were

0:06:22.440 --> 0:06:25.200
<v Speaker 1>many more millions on top of that, not to mention

0:06:25.240 --> 0:06:28.480
<v Speaker 1>the shocking fact they nearly got control. I mean, at

0:06:28.520 --> 0:06:30.720
<v Speaker 1>one point I said, can you imagine Sun Valley with

0:06:31.400 --> 0:06:34.000
<v Speaker 1>Sydney Holland and MANUELA Hurts are parading around there. They

0:06:34.120 --> 0:06:37.279
<v Speaker 1>came very close to that. I don't think people realize, um,

0:06:37.320 --> 0:06:40.440
<v Speaker 1>how how much that, how close that came to happening.

0:06:41.880 --> 0:06:45.440
<v Speaker 1>And Jim, You've pierced many a vail of secrecy over

0:06:45.480 --> 0:06:48.040
<v Speaker 1>the course of your reporting career, and so I'm curious

0:06:48.360 --> 0:06:51.880
<v Speaker 1>how this one measured up. To say a Disney Wars

0:06:51.920 --> 0:06:54.679
<v Speaker 1>another book of yours. I mean, we're people willing to

0:06:54.720 --> 0:06:58.760
<v Speaker 1>talk about this stuff. Yes, I think you know, we

0:06:58.839 --> 0:07:02.720
<v Speaker 1>detailed many sources, uh, and there there was an extraordinary

0:07:02.800 --> 0:07:06.040
<v Speaker 1>ray of people who ultimately did talk to us in

0:07:06.120 --> 0:07:10.400
<v Speaker 1>various ways, some completely for attribution, some willing to fact

0:07:10.480 --> 0:07:12.920
<v Speaker 1>check and but not wanting specific things attributed. And we

0:07:13.160 --> 0:07:14.960
<v Speaker 1>go into that in the source. But you know, we

0:07:15.080 --> 0:07:17.880
<v Speaker 1>got so much information that people really had no choice

0:07:17.920 --> 0:07:19.840
<v Speaker 1>but to talk so and I have to say it's

0:07:19.920 --> 0:07:23.680
<v Speaker 1>unprecedented and is now a very long career of mine,

0:07:23.880 --> 0:07:27.400
<v Speaker 1>partly because Rachel, you know, developed a relationship with a

0:07:27.440 --> 0:07:31.960
<v Speaker 1>confidential source who provided a call it a treasure trove

0:07:32.080 --> 0:07:35.480
<v Speaker 1>is an understatement. I mean, it was a luminous amount

0:07:35.720 --> 0:07:40.440
<v Speaker 1>of confidential, detailed information that able enabled us to really

0:07:40.560 --> 0:07:43.840
<v Speaker 1>be a fly on the wall in it seems that

0:07:43.920 --> 0:07:46.760
<v Speaker 1>I've never had that kind of immediate access. And plus

0:07:46.800 --> 0:07:49.320
<v Speaker 1>we got all these texts and emails and you can

0:07:49.400 --> 0:07:51.760
<v Speaker 1>kind of be there in real time as you see

0:07:51.800 --> 0:07:54.560
<v Speaker 1>the struggles going on within the company with you know,

0:07:54.640 --> 0:07:56.800
<v Speaker 1>moon Vest trying to decide whether to sue the red

0:07:56.880 --> 0:07:59.680
<v Speaker 1>Stone family was something that nobody has ever understood why

0:07:59.720 --> 0:08:02.440
<v Speaker 1>he did it? I think you will now, Um, as

0:08:02.440 --> 0:08:06.800
<v Speaker 1>well as boardroom minutes, letters, UM, an incredible rad text

0:08:06.840 --> 0:08:10.120
<v Speaker 1>and emails and which are you know, made it rich

0:08:10.440 --> 0:08:14.080
<v Speaker 1>load of material from which to weave this tale. Yeah,

0:08:14.240 --> 0:08:19.960
<v Speaker 1>I'd say the texts were particularly juicy, particularly shocking, and

0:08:20.080 --> 0:08:25.160
<v Speaker 1>gave you an insight that is it's it really went

0:08:25.200 --> 0:08:30.320
<v Speaker 1>to the absolute center of what was going on here. UM, Rachel,

0:08:30.560 --> 0:08:33.120
<v Speaker 1>I want to talk a bit also about Leslie Moonvez,

0:08:33.160 --> 0:08:35.320
<v Speaker 1>who you know, looms pretty large in the in the

0:08:35.400 --> 0:08:39.880
<v Speaker 1>second half of this book. UM, did you come away

0:08:39.920 --> 0:08:43.040
<v Speaker 1>from your reporting with a different impression of the man

0:08:43.400 --> 0:08:45.360
<v Speaker 1>than what you set out to? What? What did you

0:08:45.480 --> 0:08:47.600
<v Speaker 1>learn along the way that might have changed what you

0:08:47.720 --> 0:08:51.960
<v Speaker 1>thought about someone who had a pretty incredible career. You know,

0:08:52.040 --> 0:08:54.400
<v Speaker 1>one thing I was really kind of surprised to learn

0:08:54.559 --> 0:08:57.560
<v Speaker 1>was how indecisive he had been about you know, this

0:08:57.679 --> 0:09:01.480
<v Speaker 1>nuclear option to file lawsuit against the you know, the

0:09:01.520 --> 0:09:04.920
<v Speaker 1>Redstone controlling company National Amusements. You know, the text as

0:09:04.960 --> 0:09:07.720
<v Speaker 1>you can see in the text messages and the communications

0:09:07.720 --> 0:09:11.680
<v Speaker 1>that he's having with other board members, etcetera. He I

0:09:11.679 --> 0:09:13.520
<v Speaker 1>would have thought that somebody that had risen to the

0:09:13.559 --> 0:09:16.800
<v Speaker 1>upper echelons of the media world would be somebody who

0:09:17.000 --> 0:09:20.000
<v Speaker 1>made decisions stuck with them, you know, showed no signs

0:09:20.000 --> 0:09:22.640
<v Speaker 1>of vulnerability or waffling or anything like that. But as

0:09:22.679 --> 0:09:25.160
<v Speaker 1>you'll read in the book, Um, that was not the

0:09:25.160 --> 0:09:26.760
<v Speaker 1>case here, and that was not the case to sort

0:09:26.800 --> 0:09:30.640
<v Speaker 1>of an extraordinary degree. I mean, just seeing the cajoling

0:09:30.800 --> 0:09:32.880
<v Speaker 1>that's going on behind the scenes as he's trying to

0:09:32.880 --> 0:09:35.319
<v Speaker 1>figure out whether to wage war against the Red Stones.

0:09:35.559 --> 0:09:37.640
<v Speaker 1>That is not the kind of decisiveness I would have

0:09:37.679 --> 0:09:41.640
<v Speaker 1>perhaps expected with somebody of his stature. And I will

0:09:41.679 --> 0:09:45.520
<v Speaker 1>say that after reading this, I think any any mogul

0:09:45.559 --> 0:09:49.240
<v Speaker 1>who reads this will probably never text again because it

0:09:49.280 --> 0:09:51.439
<v Speaker 1>will come back to haunt you. This book will show

0:09:51.520 --> 0:09:55.360
<v Speaker 1>you that much. And Rachel, you've done extensive reporting on

0:09:55.440 --> 0:09:59.040
<v Speaker 1>the me too saga, and now that we're years away

0:09:59.120 --> 0:10:01.120
<v Speaker 1>from the from the fall all of Leslie moon Vez,

0:10:01.200 --> 0:10:04.360
<v Speaker 1>I'm also curious to get your sense of how the

0:10:04.440 --> 0:10:08.400
<v Speaker 1>me too movement has played out. Has there been lasting

0:10:08.480 --> 0:10:11.559
<v Speaker 1>cultural change in this business as a result of the

0:10:11.640 --> 0:10:15.679
<v Speaker 1>kind of reporting you've done. Well, I think it's too

0:10:15.760 --> 0:10:18.840
<v Speaker 1>early to talk about what the lasting changes are going

0:10:18.880 --> 0:10:21.440
<v Speaker 1>to be. I think, not to sound overly cynical, but

0:10:21.480 --> 0:10:24.560
<v Speaker 1>companies have become very good at damage control and saying

0:10:24.600 --> 0:10:26.360
<v Speaker 1>all the right things in the wake of a scandal.

0:10:26.760 --> 0:10:29.720
<v Speaker 1>But it takes a lot to change a culture, especially

0:10:29.760 --> 0:10:32.440
<v Speaker 1>a culture where the culture has been ingrained from you know,

0:10:32.480 --> 0:10:35.760
<v Speaker 1>the top for years. And one thing that I think

0:10:35.880 --> 0:10:38.559
<v Speaker 1>is really interesting that you know, it's we're too It's

0:10:38.559 --> 0:10:40.960
<v Speaker 1>still too early to tell, but I do wonder if

0:10:41.000 --> 0:10:43.160
<v Speaker 1>we're going to see any of these guys come back, right, Like,

0:10:43.240 --> 0:10:46.720
<v Speaker 1>Hollywood especially loves a redemption story. And you know, some

0:10:46.760 --> 0:10:48.360
<v Speaker 1>of these guys, are they going to live in exile

0:10:48.440 --> 0:10:50.560
<v Speaker 1>long enough for for people to think, well, you know,

0:10:50.559 --> 0:10:52.440
<v Speaker 1>if I offer them a movie deal or an executive

0:10:52.520 --> 0:10:55.040
<v Speaker 1>job like I you know, I don't think anyone's gonna

0:10:55.080 --> 0:10:57.760
<v Speaker 1>cancel me. And and I sort of wonder, you know,

0:10:57.840 --> 0:10:59.440
<v Speaker 1>are any of these guys going to be coming back?

0:10:59.480 --> 0:11:01.760
<v Speaker 1>I mean, it's only been what five years or so

0:11:01.880 --> 0:11:05.240
<v Speaker 1>less than five years, sorry, six years ish since Harvey

0:11:05.280 --> 0:11:08.880
<v Speaker 1>Weinstein broke So I do wonder, you know, if, if,

0:11:08.920 --> 0:11:11.360
<v Speaker 1>if we're going to see any comebacks, um, and I

0:11:11.400 --> 0:11:13.400
<v Speaker 1>think that'll be really telling in terms of figuring out

0:11:13.400 --> 0:11:16.600
<v Speaker 1>what's changed, what hasn't you know, Andy, I M I

0:11:16.640 --> 0:11:19.320
<v Speaker 1>wish I could say that there's been a huge change there.

0:11:19.280 --> 0:11:22.079
<v Speaker 1>There's no doubt there has been changed, For example, against

0:11:22.080 --> 0:11:25.240
<v Speaker 1>shocking things, the idea that less Moon bez as he

0:11:25.400 --> 0:11:28.920
<v Speaker 1>himself disclosed, and we reveal there was a there was

0:11:28.960 --> 0:11:31.960
<v Speaker 1>a woman on the CBS payroll who was in the

0:11:32.000 --> 0:11:34.520
<v Speaker 1>pool of people sitting outside his office. Part of his

0:11:34.640 --> 0:11:39.920
<v Speaker 1>job was to administer oral sex to him whenever he wanted.

0:11:40.600 --> 0:11:43.640
<v Speaker 1>I would like to think that that almost unbelievable thing

0:11:43.760 --> 0:11:46.440
<v Speaker 1>is not happening anymore. On the other hand, I was

0:11:46.520 --> 0:11:51.120
<v Speaker 1>also very strong, as was Rachel. And how fearful people

0:11:51.200 --> 0:11:54.240
<v Speaker 1>still are about coming forward. I mean, we have women

0:11:54.440 --> 0:11:58.120
<v Speaker 1>in the in the book who had not previously spoken

0:11:58.120 --> 0:12:01.400
<v Speaker 1>to the press, who I don't think people were aware of,

0:12:01.520 --> 0:12:05.160
<v Speaker 1>had undergone some of these things, and me too has

0:12:05.200 --> 0:12:08.120
<v Speaker 1>not changed much. There's still afraid of their careers. There's

0:12:08.120 --> 0:12:10.840
<v Speaker 1>still afraid that they'll be black ball there's still afraid

0:12:10.920 --> 0:12:14.400
<v Speaker 1>that that Hollywood in particular and entertainment is a very

0:12:14.559 --> 0:12:19.360
<v Speaker 1>male dominated um industry in which their careers would be ruined.

0:12:19.400 --> 0:12:22.600
<v Speaker 1>And really, there were people we talked to who would

0:12:22.600 --> 0:12:25.280
<v Speaker 1>not agree. They ultimately they said, no, we're not going

0:12:25.360 --> 0:12:27.320
<v Speaker 1>to put our neck on the lawn for this so

0:12:27.440 --> 0:12:30.560
<v Speaker 1>that is still a serious problem in my view. Well,

0:12:30.679 --> 0:12:32.959
<v Speaker 1>so to that point, I mean, this was something that

0:12:33.000 --> 0:12:34.760
<v Speaker 1>woul occurred to me as I read the book as well,

0:12:34.800 --> 0:12:39.200
<v Speaker 1>which was how many other women either didn't want to

0:12:39.240 --> 0:12:42.480
<v Speaker 1>speak or how many other women you may not even

0:12:42.520 --> 0:12:45.760
<v Speaker 1>have known of that were implicated in this And obviously

0:12:45.800 --> 0:12:49.240
<v Speaker 1>you can't disclose who, what went and why, but give

0:12:49.280 --> 0:12:51.680
<v Speaker 1>a sense of the scale here, In other words, was

0:12:51.760 --> 0:12:55.400
<v Speaker 1>there even was there you know, many many more women

0:12:55.440 --> 0:12:57.839
<v Speaker 1>who wouldn't speak, or many many more women that you

0:12:58.000 --> 0:13:01.440
<v Speaker 1>heard things about but couldn't confirm. I just perhaps this

0:13:01.520 --> 0:13:04.760
<v Speaker 1>is even more the scale here is even greater than

0:13:05.160 --> 0:13:07.760
<v Speaker 1>you guys have reported. I mean, Andy, you know this

0:13:08.000 --> 0:13:11.240
<v Speaker 1>also being a journalist, Like whenever you report something, the

0:13:11.320 --> 0:13:13.920
<v Speaker 1>question is always, well, this is what I know? What

0:13:14.120 --> 0:13:16.800
<v Speaker 1>don't I know? And you know, I don't really want

0:13:16.800 --> 0:13:19.720
<v Speaker 1>to speculate about the universe of how, you know, how

0:13:19.840 --> 0:13:22.080
<v Speaker 1>big big, how many women might be out there, because

0:13:22.160 --> 0:13:24.000
<v Speaker 1>you know, I don't want to cast dispersions with information

0:13:24.040 --> 0:13:27.160
<v Speaker 1>I haven't confirmed myself, but but I will say that,

0:13:27.200 --> 0:13:31.440
<v Speaker 1>like I have talked to people who are related to

0:13:31.480 --> 0:13:33.960
<v Speaker 1>this story who say there is no upside for me

0:13:34.040 --> 0:13:36.320
<v Speaker 1>talking to you and I just want to emphasize what

0:13:36.480 --> 0:13:39.480
<v Speaker 1>Jim said, which is that, you know, frankly, as a

0:13:39.480 --> 0:13:41.839
<v Speaker 1>woman covering some of this stuff the last few years,

0:13:41.880 --> 0:13:44.839
<v Speaker 1>one of the I would argue kind of sexist criticisms

0:13:44.840 --> 0:13:47.080
<v Speaker 1>for women coming forward in these stories is well, they

0:13:47.120 --> 0:13:49.679
<v Speaker 1>just want attention, you know, the floodgates of open. People

0:13:49.679 --> 0:13:51.800
<v Speaker 1>just want attention. And I can tell you that like

0:13:52.800 --> 0:13:56.040
<v Speaker 1>more often than not, when I talk to somebody, they

0:13:56.160 --> 0:14:00.240
<v Speaker 1>see no upside moon best CBS or regardless. There's the

0:14:00.720 --> 0:14:03.160
<v Speaker 1>response I get is there is no upside for me

0:14:03.240 --> 0:14:04.959
<v Speaker 1>talking to you. What do I get out of this?

0:14:05.240 --> 0:14:07.680
<v Speaker 1>My career will be ruined, my children will find out,

0:14:07.920 --> 0:14:09.480
<v Speaker 1>you know, why would I want this out there? And

0:14:09.480 --> 0:14:12.319
<v Speaker 1>so I think if anybody thinks that that people are

0:14:12.400 --> 0:14:15.640
<v Speaker 1>everyone is eager and embraces calls from me or Jim

0:14:15.640 --> 0:14:18.240
<v Speaker 1>with open arms, I mean, that is really a misconception.

0:14:19.080 --> 0:14:21.240
<v Speaker 1>Ye Andy, I'd also like to add an important theme

0:14:21.280 --> 0:14:23.760
<v Speaker 1>in this book that hadn't been explored much is the

0:14:23.800 --> 0:14:31.880
<v Speaker 1>intersection of sexual abuse, sexual harassment, and money. Um, there

0:14:31.880 --> 0:14:35.880
<v Speaker 1>are there are many examples here of women. Yes, they

0:14:35.920 --> 0:14:39.560
<v Speaker 1>did undergo pretty horrific behavior on the part of men,

0:14:39.600 --> 0:14:42.240
<v Speaker 1>but they also got a lot of money. I mean,

0:14:42.280 --> 0:14:45.080
<v Speaker 1>Sydney Manuela may have walked away with a hundred fifty

0:14:45.120 --> 0:14:48.240
<v Speaker 1>million plus, but there are many many other women that

0:14:48.280 --> 0:14:51.320
<v Speaker 1>we ran into in this story who left with many

0:14:51.400 --> 0:14:54.400
<v Speaker 1>millions of dollars in their bank account with you know,

0:14:54.880 --> 0:14:58.520
<v Speaker 1>with CBS and Viacom shares that just mysteriously showed up

0:14:58.560 --> 0:15:02.880
<v Speaker 1>in their brokerage accounts. And you know, frankly, a lot

0:15:02.960 --> 0:15:05.200
<v Speaker 1>of those people they didn't want to talk to us,

0:15:05.240 --> 0:15:07.800
<v Speaker 1>They didn't want to do anything would put those millions

0:15:07.800 --> 0:15:10.360
<v Speaker 1>of dollars at risk, like somebody may be sailing them

0:15:10.440 --> 0:15:13.560
<v Speaker 1>or something. So I think that combination, when you're when

0:15:13.560 --> 0:15:16.120
<v Speaker 1>you're dealing with very wealthy and powerful people with money

0:15:16.160 --> 0:15:19.600
<v Speaker 1>to spread around, you're you're e veneering a new area

0:15:19.680 --> 0:15:24.000
<v Speaker 1>of sexual harassment interviews in my view. But what do

0:15:24.080 --> 0:15:27.800
<v Speaker 1>you guys as reporters do when you have to encounter

0:15:28.480 --> 0:15:32.000
<v Speaker 1>people like this who have no incentive? What are the reporting,

0:15:32.520 --> 0:15:34.600
<v Speaker 1>for lack of a better term, tricks of the trade

0:15:34.640 --> 0:15:37.680
<v Speaker 1>to coax these people to speak to you. I mean,

0:15:37.720 --> 0:15:41.160
<v Speaker 1>it just sounds very difficult. I think it really depends

0:15:41.280 --> 0:15:44.320
<v Speaker 1>on what the person's motivations are for picking up the

0:15:44.320 --> 0:15:46.880
<v Speaker 1>phone and talking to you. Is somebody talking to you

0:15:47.000 --> 0:15:50.960
<v Speaker 1>because they don't want this whatever happened to them to

0:15:51.000 --> 0:15:53.640
<v Speaker 1>happen to other people, in which case you can say, look,

0:15:53.800 --> 0:15:57.640
<v Speaker 1>you know, I getting your story out there might be

0:15:57.720 --> 0:16:00.720
<v Speaker 1>able to I mean Megan Megan too, who is one

0:16:00.720 --> 0:16:03.480
<v Speaker 1>of the reporters on the Weinstein story, UM, has this

0:16:03.560 --> 0:16:05.920
<v Speaker 1>great line where she talks about saying to women, I

0:16:05.960 --> 0:16:08.240
<v Speaker 1>can't change what happened to you, but maybe I can

0:16:08.280 --> 0:16:10.920
<v Speaker 1>prevent it from happening to other people. And I have

0:16:11.000 --> 0:16:14.600
<v Speaker 1>to confess I've stolen that on more than one occasion. UM.

0:16:14.680 --> 0:16:18.040
<v Speaker 1>And And but some people also, you know, I feel

0:16:18.160 --> 0:16:20.920
<v Speaker 1>that that that nobody has ever been held accountable to

0:16:20.960 --> 0:16:24.440
<v Speaker 1>what happened to them. And you have to just reassure

0:16:24.480 --> 0:16:27.640
<v Speaker 1>folks that, like, we work at the New York Times

0:16:27.640 --> 0:16:30.680
<v Speaker 1>and we handle all kinds of sensitive information every day,

0:16:30.920 --> 0:16:34.560
<v Speaker 1>and we know how to keep keep keep people confidential.

0:16:34.680 --> 0:16:38.040
<v Speaker 1>And you have to just reassure folks that, like you

0:16:38.200 --> 0:16:41.480
<v Speaker 1>can take action with the information that they give you

0:16:41.560 --> 0:16:44.280
<v Speaker 1>to maybe you know, shed a light on something, UM

0:16:44.320 --> 0:16:47.480
<v Speaker 1>and keep them safe. You know, I think it's it

0:16:47.520 --> 0:16:49.240
<v Speaker 1>all comes down to how would you feel if a

0:16:49.280 --> 0:16:51.160
<v Speaker 1>stranger called you out of the blue and asked you

0:16:51.200 --> 0:16:54.120
<v Speaker 1>about really sensitive info that you just going to want

0:16:54.120 --> 0:16:56.480
<v Speaker 1>to know that that they know how to treat you

0:16:56.600 --> 0:16:58.960
<v Speaker 1>and treat you with respect and and keep and and

0:16:59.000 --> 0:17:03.240
<v Speaker 1>hold your confidence. So there's no one one size fits all, um,

0:17:03.280 --> 0:17:04.520
<v Speaker 1>But I guess those are a couple of things that

0:17:04.560 --> 0:17:07.040
<v Speaker 1>I like to keep in mind. I think it was

0:17:07.040 --> 0:17:09.760
<v Speaker 1>a big advantage there were two of us and um,

0:17:10.520 --> 0:17:13.760
<v Speaker 1>and you know, Rachel was able to relate, I think,

0:17:14.240 --> 0:17:16.840
<v Speaker 1>and you know, bond with a lot of these people

0:17:16.840 --> 0:17:18.399
<v Speaker 1>in a way that I probably couldn't do. And then

0:17:18.400 --> 0:17:22.159
<v Speaker 1>there were some some examples where maybe it was good

0:17:22.200 --> 0:17:25.119
<v Speaker 1>that I was not, you know, immurse so much in

0:17:25.440 --> 0:17:28.680
<v Speaker 1>the me too reporting because we did sort of Rachel

0:17:28.720 --> 0:17:31.640
<v Speaker 1>did a lot of the women who experienced sexual viies

0:17:31.680 --> 0:17:34.600
<v Speaker 1>and I did some myself, and she was right. You

0:17:34.680 --> 0:17:38.639
<v Speaker 1>never knew what approach it was. But I have to

0:17:38.640 --> 0:17:41.760
<v Speaker 1>admire the people have spoke because in no case did

0:17:41.800 --> 0:17:45.000
<v Speaker 1>it really bring them any immediate advantage to be able

0:17:45.040 --> 0:17:48.320
<v Speaker 1>to tell the stories. Yeah, I think one of the

0:17:48.400 --> 0:17:51.439
<v Speaker 1>great things about this book. I mean, this process was

0:17:51.880 --> 0:17:55.639
<v Speaker 1>so interesting and Jim and I, you know, really I

0:17:55.680 --> 0:17:58.760
<v Speaker 1>had obviously the subject matter was dark at times, but

0:17:58.840 --> 0:18:01.400
<v Speaker 1>also some of it was quite lighthearted, and Jim and I,

0:18:01.480 --> 0:18:04.280
<v Speaker 1>you know, really enjoyed this process in working together, and

0:18:04.280 --> 0:18:06.760
<v Speaker 1>we really played to our strengths. You know, Jim is

0:18:06.800 --> 0:18:09.800
<v Speaker 1>obviously a very U steven business reporter, and there are

0:18:09.840 --> 0:18:12.119
<v Speaker 1>people that are going to answer his phone call that

0:18:12.200 --> 0:18:14.679
<v Speaker 1>might be more reticent to call me back. And there

0:18:14.720 --> 0:18:16.399
<v Speaker 1>are people that I might be able to relate to

0:18:16.880 --> 0:18:18.959
<v Speaker 1>as a thirty five year old woman that would be

0:18:18.960 --> 0:18:20.760
<v Speaker 1>better for me to call. And it's not like I

0:18:20.800 --> 0:18:23.720
<v Speaker 1>haven't done corporate investigations, It's not like Jim hasn't spoken

0:18:23.760 --> 0:18:27.080
<v Speaker 1>to women who have made sexual assault allegations. But you know,

0:18:27.200 --> 0:18:29.720
<v Speaker 1>this book being the collision, as Jim said, of Me

0:18:29.920 --> 0:18:32.880
<v Speaker 1>Too and corporate governance, the two of us really were

0:18:32.880 --> 0:18:35.199
<v Speaker 1>able to cover a lot of ground and we really

0:18:35.280 --> 0:18:41.239
<v Speaker 1>embraced that. We'll be back in just a moment with

0:18:41.320 --> 0:18:53.360
<v Speaker 1>more with Rachel Abrams and Jim Stewart, and we are

0:18:53.440 --> 0:18:56.359
<v Speaker 1>back with the authors of the new book Unscripted, the

0:18:56.359 --> 0:18:59.600
<v Speaker 1>Battle for a Media Empire and the red Stone Family

0:18:59.680 --> 0:19:02.120
<v Speaker 1>legg See, Rachel, I want to go back to something

0:19:02.160 --> 0:19:05.040
<v Speaker 1>you had said earlier that reminded me of I was

0:19:05.080 --> 0:19:07.639
<v Speaker 1>reading the epilogue just last night, and I think I

0:19:07.960 --> 0:19:12.320
<v Speaker 1>howled out loud at the part where you guys reported

0:19:12.359 --> 0:19:17.520
<v Speaker 1>that peers of Leslie Moonvez wondered whether he would return

0:19:17.680 --> 0:19:22.720
<v Speaker 1>to the industry at some point. I can understand why

0:19:22.800 --> 0:19:26.919
<v Speaker 1>his friends might think that. Do you really think that

0:19:27.240 --> 0:19:29.640
<v Speaker 1>something like that as possible? As I think you suggested

0:19:29.640 --> 0:19:34.520
<v Speaker 1>earlier in this conversation. I just really feel as though,

0:19:36.080 --> 0:19:41.200
<v Speaker 1>again Hollywood loves a redemption story, and Leslie Moonvez has

0:19:41.400 --> 0:19:44.240
<v Speaker 1>helped many people in their careers. Are a lot of people,

0:19:44.240 --> 0:19:46.560
<v Speaker 1>as Jim said, that feel very grateful to him, And

0:19:46.600 --> 0:19:48.639
<v Speaker 1>I would have to imagine that there is a world

0:19:48.920 --> 0:19:55.320
<v Speaker 1>where the combination of time, distance, gratitude, perhaps people feeling

0:19:55.320 --> 0:19:57.640
<v Speaker 1>like they owe him something like all of those things,

0:19:57.640 --> 0:19:59.600
<v Speaker 1>I could imagine a world in which they all combine

0:19:59.680 --> 0:20:03.400
<v Speaker 1>were so somebody's willing to give him another shot, And um,

0:20:03.960 --> 0:20:05.760
<v Speaker 1>you know, I don't. I don't know if it's likely

0:20:05.880 --> 0:20:09.960
<v Speaker 1>or not, but I you know, he's done a lot

0:20:10.000 --> 0:20:11.240
<v Speaker 1>of favors for a lot of people, He's made a

0:20:11.280 --> 0:20:14.120
<v Speaker 1>lot of careers, and you know, scandals fade with time,

0:20:14.240 --> 0:20:17.040
<v Speaker 1>So there's a world in which it could be possible.

0:20:17.080 --> 0:20:19.320
<v Speaker 1>I suppose. I mean, he's already set up an LLC

0:20:19.600 --> 0:20:23.280
<v Speaker 1>for his media ventures. Um, I believe in West Hollywood, right, So,

0:20:23.720 --> 0:20:27.159
<v Speaker 1>but has this company actually done anything? Do we do

0:20:27.200 --> 0:20:29.919
<v Speaker 1>we know anything about his mindset these days? Is he

0:20:30.040 --> 0:20:33.480
<v Speaker 1>angling for a comeback or maybe he's just done. He's

0:20:33.480 --> 0:20:37.439
<v Speaker 1>been keeping a low profile. But you know, I just

0:20:37.560 --> 0:20:39.680
<v Speaker 1>I just think I would be wary of saying never,

0:20:40.000 --> 0:20:42.760
<v Speaker 1>you know, never say never. And and you know, I

0:20:42.760 --> 0:20:47.240
<v Speaker 1>think it's fairness to to Moonvez. He's not a Harvey Weinstein. Um.

0:20:47.280 --> 0:20:50.239
<v Speaker 1>He was immensely well locked, he was very popular, He

0:20:50.240 --> 0:20:52.680
<v Speaker 1>helped many people in their careers. He was an extremely

0:20:52.760 --> 0:20:56.440
<v Speaker 1>successful chief executive re civs over all those years. And

0:20:56.520 --> 0:20:58.879
<v Speaker 1>I've talked to friends of mine in the business in

0:20:58.920 --> 0:21:01.520
<v Speaker 1>Hollywood have said, you know, look, I don't really know

0:21:01.560 --> 0:21:03.639
<v Speaker 1>what happened there, but you know I don't want to

0:21:03.720 --> 0:21:06.160
<v Speaker 1>run a foul of him or across him. I bear

0:21:06.240 --> 0:21:08.440
<v Speaker 1>him nothing good will. Plus you said that staunch support

0:21:08.440 --> 0:21:11.800
<v Speaker 1>of his very popular wife, Julie Chance. So I would

0:21:11.880 --> 0:21:13.520
<v Speaker 1>never count him out. And by the way, he's never

0:21:13.560 --> 0:21:16.040
<v Speaker 1>in charge of the crown, He's never ensued civilly. Most

0:21:16.080 --> 0:21:18.359
<v Speaker 1>of these incidents happened too long ago. The statute of

0:21:18.400 --> 0:21:22.280
<v Speaker 1>limitations is run. Um, So you know, I would never

0:21:22.320 --> 0:21:26.000
<v Speaker 1>count him out. I'm wondering whether we should be counting

0:21:26.040 --> 0:21:29.960
<v Speaker 1>out Philippe Domant, who of course was red Stones right

0:21:30.040 --> 0:21:33.200
<v Speaker 1>hand man. And Karen, tell me if I'm getting this wrong,

0:21:33.320 --> 0:21:36.840
<v Speaker 1>comes off as much of grifter in this book as

0:21:36.880 --> 0:21:40.320
<v Speaker 1>Sydney Holland or Manuela Herzer. I mean, do we have

0:21:40.480 --> 0:21:45.240
<v Speaker 1>we heard a peep from him since he exited stage left? Well,

0:21:45.280 --> 0:21:48.760
<v Speaker 1>he shows up at some charity balls in Palm Beach

0:21:49.320 --> 0:21:51.399
<v Speaker 1>with his wife, But no, I don't think he shows

0:21:51.840 --> 0:21:55.520
<v Speaker 1>any interest in the business. I honestly I don't know. However,

0:21:55.600 --> 0:21:59.320
<v Speaker 1>how interested he ever really was um in the movie

0:21:59.520 --> 0:22:02.399
<v Speaker 1>business or entertainment per say, he was a corporate lawyer.

0:22:02.800 --> 0:22:06.280
<v Speaker 1>He became very close to Sumner. He was known as

0:22:06.320 --> 0:22:09.280
<v Speaker 1>his surrogate son, which he encouraged. And again you see

0:22:09.320 --> 0:22:12.399
<v Speaker 1>in the book there's some testimony from him. He knew

0:22:12.560 --> 0:22:15.280
<v Speaker 1>what was going on. He knew about all these women,

0:22:15.320 --> 0:22:17.400
<v Speaker 1>he knew the millions of dollars that were being paid

0:22:17.400 --> 0:22:20.840
<v Speaker 1>out to him. He was a trustee of the Redstone Trust.

0:22:20.920 --> 0:22:23.159
<v Speaker 1>And you know, didn't he ever say anything about this?

0:22:23.160 --> 0:22:27.280
<v Speaker 1>Did he ever evenything to stop it? No? Um, He's

0:22:27.440 --> 0:22:30.320
<v Speaker 1>walked out of there with you know, many many millions

0:22:30.320 --> 0:22:33.919
<v Speaker 1>of dollars. Um you know, and I'm sure that you

0:22:33.920 --> 0:22:36.040
<v Speaker 1>know he's from his point of view, this all worked

0:22:36.040 --> 0:22:39.719
<v Speaker 1>out very well, and he presided over a period for

0:22:39.760 --> 0:22:42.560
<v Speaker 1>a company that used to have i'd say probably the

0:22:42.600 --> 0:22:46.200
<v Speaker 1>most valuable brands and media that by the time he left,

0:22:46.240 --> 0:22:50.480
<v Speaker 1>the likes of MTV, Comedy Central or were diminished to

0:22:50.480 --> 0:22:53.040
<v Speaker 1>the point where we may never see them recover. And

0:22:53.520 --> 0:22:57.400
<v Speaker 1>something that certainly comes across in the book as well. UM,

0:22:57.680 --> 0:23:01.480
<v Speaker 1>simple question here, is this story really over? I mean,

0:23:01.720 --> 0:23:04.280
<v Speaker 1>I still feel like we're seeing headlines and we saw

0:23:05.040 --> 0:23:10.280
<v Speaker 1>recently the New York Attorney's Office, uh, disclosing about additional

0:23:10.280 --> 0:23:15.200
<v Speaker 1>payments Moonvez agreed to make with regard to a cover

0:23:15.359 --> 0:23:18.199
<v Speaker 1>up at the l a p D. Moonves being tipped

0:23:18.240 --> 0:23:20.959
<v Speaker 1>off by the l a p D with regard to

0:23:21.640 --> 0:23:26.000
<v Speaker 1>something in that case. Uh. Is this even over? It

0:23:26.080 --> 0:23:29.639
<v Speaker 1>certainly seems like there are still reverberations from this, and

0:23:29.680 --> 0:23:31.840
<v Speaker 1>we know that they're the you know, there's the the

0:23:31.960 --> 0:23:34.480
<v Speaker 1>l A p D angle, But also what is the

0:23:34.520 --> 0:23:37.919
<v Speaker 1>fate of these two companies? Um? And and was Sherry

0:23:38.040 --> 0:23:42.120
<v Speaker 1>ultimately right with her plans for a merger? I mean,

0:23:42.119 --> 0:23:45.120
<v Speaker 1>I think there are still a lot of open questions about, um,

0:23:45.520 --> 0:23:48.080
<v Speaker 1>what the effects of this are going to be. Yeah,

0:23:48.080 --> 0:23:50.040
<v Speaker 1>I've learned over the years any you can't write a book,

0:23:50.119 --> 0:23:52.760
<v Speaker 1>or even really a long story if you wait until

0:23:52.840 --> 0:23:56.440
<v Speaker 1>every single aspect of it laid out. There's a lot happening,

0:23:56.520 --> 0:23:58.760
<v Speaker 1>but it is over in the sense that the arc

0:23:58.800 --> 0:24:02.399
<v Speaker 1>of the story is shared, residunding, drawn back into the

0:24:02.440 --> 0:24:05.800
<v Speaker 1>family business and the family drama, and having to confront

0:24:05.920 --> 0:24:08.760
<v Speaker 1>one incredible obstacle to another, starting with the women in

0:24:08.800 --> 0:24:12.280
<v Speaker 1>the mansion, continuing with Phillip Doma, then having to deal

0:24:12.320 --> 0:24:16.840
<v Speaker 1>with Lessman invest suing her, and ultimately she emerges in charge.

0:24:16.920 --> 0:24:20.360
<v Speaker 1>And so in that sense, you've got a woman protagonist

0:24:20.400 --> 0:24:23.000
<v Speaker 1>first I've ever had one of my books confronting all

0:24:23.080 --> 0:24:26.399
<v Speaker 1>these obstacles, and she does emerge on top and the end,

0:24:26.440 --> 0:24:29.320
<v Speaker 1>And in that sense, I think it's a very satisfying narrative.

0:24:30.160 --> 0:24:33.000
<v Speaker 1>Although and I would say Sherry probably emerges is the

0:24:33.000 --> 0:24:37.199
<v Speaker 1>most fascinating, multifaceted character in the book. The thing that

0:24:37.320 --> 0:24:42.000
<v Speaker 1>struck me was how she was repeatedly being undermined over

0:24:42.040 --> 0:24:45.040
<v Speaker 1>and over by people that were on the board leaders

0:24:45.080 --> 0:24:49.159
<v Speaker 1>of the respective companies that she controlled. It begs the

0:24:49.280 --> 0:24:53.000
<v Speaker 1>question where things stand today with her and the combined

0:24:53.200 --> 0:24:58.520
<v Speaker 1>Paramount Global company um Rachel, how do you see this

0:24:58.640 --> 0:25:01.679
<v Speaker 1>company faring in this world we're in now, where the

0:25:01.800 --> 0:25:07.080
<v Speaker 1>streaming wars are at full roar, much bigger companies battling

0:25:07.160 --> 0:25:12.479
<v Speaker 1>to the death, consolidation, UH, anticipation always around the corner.

0:25:12.920 --> 0:25:17.679
<v Speaker 1>How do you see Sharry faring in all this? Well?

0:25:17.760 --> 0:25:20.520
<v Speaker 1>Jim can Jim. Jim can probably answer some of the

0:25:20.560 --> 0:25:23.480
<v Speaker 1>corporate questions. But the one thing I would love to

0:25:24.240 --> 0:25:27.480
<v Speaker 1>just talk about is the sexism that Sherry faced, because

0:25:27.720 --> 0:25:32.359
<v Speaker 1>you know, one, this stuff doesn't just change overnight. You know,

0:25:32.640 --> 0:25:34.280
<v Speaker 1>as detailed in her books, some of the things that

0:25:34.320 --> 0:25:35.880
<v Speaker 1>she had to put up with. I mean, my jaw

0:25:35.960 --> 0:25:40.600
<v Speaker 1>hit the floor. I could not believe that that that adults, experienced,

0:25:40.800 --> 0:25:45.760
<v Speaker 1>adult executives would treat her and say things to her. Uh,

0:25:45.800 --> 0:25:48.959
<v Speaker 1>that anybody with two brain cells to rub against each

0:25:49.000 --> 0:25:51.080
<v Speaker 1>other would know better. I mean, it just and it

0:25:51.080 --> 0:25:53.280
<v Speaker 1>makes me think, like, you know, it's not like it's

0:25:53.320 --> 0:25:55.480
<v Speaker 1>not like, oh, the Me Too movement happened, and none

0:25:55.520 --> 0:25:58.280
<v Speaker 1>of those people work in media anymore, and nobody's sexist anymore,

0:25:58.320 --> 0:26:01.719
<v Speaker 1>and everybody's you know, everything's happily ever after. It's not

0:26:01.800 --> 0:26:04.680
<v Speaker 1>like the entire companies got rid of everybody that ever

0:26:04.720 --> 0:26:09.520
<v Speaker 1>worked there and replaced them. So um, I can't. Even

0:26:09.520 --> 0:26:12.720
<v Speaker 1>though she she she has gained control of her family empire,

0:26:12.800 --> 0:26:16.320
<v Speaker 1>I still wonder frankly about what kind of indignity she

0:26:16.400 --> 0:26:18.280
<v Speaker 1>faces and the level of respect that she gets on

0:26:18.320 --> 0:26:21.160
<v Speaker 1>a daily basis um and as the future of the company,

0:26:21.680 --> 0:26:25.320
<v Speaker 1>as you mentioned, consolidation is obviously really important. Jim can

0:26:25.359 --> 0:26:28.239
<v Speaker 1>probably Jim, why don't you answer that? Well? I can

0:26:28.280 --> 0:26:31.800
<v Speaker 1>certainly say that from a wall seat perspective, even the

0:26:31.880 --> 0:26:35.000
<v Speaker 1>merged companies which probably should emerge, you know, long before

0:26:35.400 --> 0:26:37.680
<v Speaker 1>if Sherry had her way, they would have, but they're

0:26:37.720 --> 0:26:39.920
<v Speaker 1>not big enough. They don't have the scale to compete

0:26:39.960 --> 0:26:43.400
<v Speaker 1>compete with the big streaming companies in this radically changed

0:26:44.160 --> 0:26:48.640
<v Speaker 1>media landscape. So there's much speculation that the company will

0:26:48.720 --> 0:26:52.640
<v Speaker 1>be sold. Sharry herself has said that under the right circumstances,

0:26:52.640 --> 0:26:55.280
<v Speaker 1>she would not oppose that. I don't believe the next

0:26:55.320 --> 0:26:59.040
<v Speaker 1>generation in the Redstone family is eager really to take

0:26:59.080 --> 0:27:02.320
<v Speaker 1>over in it and run the company. So the stock

0:27:02.359 --> 0:27:05.080
<v Speaker 1>has run up lately after thinking to you know, pretty

0:27:05.080 --> 0:27:08.399
<v Speaker 1>shockingly low level and I think large that's largely on

0:27:08.560 --> 0:27:12.400
<v Speaker 1>speculation that some kind of deal will be in the future. Well,

0:27:13.280 --> 0:27:16.240
<v Speaker 1>correct me if I'm wrong. Sherry is also still facing

0:27:16.359 --> 0:27:20.679
<v Speaker 1>shareholder lawsuits over this merger. Is that something that you

0:27:20.760 --> 0:27:24.679
<v Speaker 1>think will play a part in its future. I think

0:27:24.720 --> 0:27:27.520
<v Speaker 1>those will ultimately be resolved. I you know, I strongly

0:27:27.560 --> 0:27:30.240
<v Speaker 1>suspect that they'll They usually do settle. I mean, I

0:27:30.280 --> 0:27:34.440
<v Speaker 1>think the respected boards have been very resistant to any

0:27:34.480 --> 0:27:36.680
<v Speaker 1>kind of settlement, seeing this as kind of a shakedown

0:27:36.680 --> 0:27:39.560
<v Speaker 1>by the planetts Um. Honestly, I think in the long

0:27:39.680 --> 0:27:43.359
<v Speaker 1>term this may yield some very interesting information, but I

0:27:43.400 --> 0:27:45.480
<v Speaker 1>don't think it's going to affect the long term trajectory

0:27:45.480 --> 0:27:49.000
<v Speaker 1>of the companies. I also wonder whether we may even

0:27:49.040 --> 0:27:52.600
<v Speaker 1>be underestimating Sherry and Paramount Global, and we should, of

0:27:52.640 --> 0:27:57.399
<v Speaker 1>course note their CEO, Bob backish Um. Is it possible

0:27:58.320 --> 0:28:02.320
<v Speaker 1>that they could emerge as an acquirer instead of being

0:28:02.400 --> 0:28:06.040
<v Speaker 1>the one acquired or is it just more likely maybe

0:28:06.040 --> 0:28:10.320
<v Speaker 1>they spin off CBS. Uh. Can I get a prediction

0:28:10.359 --> 0:28:15.000
<v Speaker 1>out of you, Jim, I'd be very surprised if they

0:28:15.080 --> 0:28:17.679
<v Speaker 1>are going to be a buyer. Um. It would be

0:28:17.760 --> 0:28:21.160
<v Speaker 1>very unusual, being the companies that are the most obvious

0:28:21.440 --> 0:28:25.040
<v Speaker 1>matches for them are all much larger. It would be

0:28:25.440 --> 0:28:28.879
<v Speaker 1>very highly unusual for a relatively small market capitalization like

0:28:28.920 --> 0:28:34.440
<v Speaker 1>Paramount Global to be the one eating up somebody really big. Hmm. Yeah,

0:28:34.680 --> 0:28:36.880
<v Speaker 1>I would not be surprised if by this time next

0:28:37.000 --> 0:28:42.080
<v Speaker 1>year we were in a very different situation with this company. Um.

0:28:42.120 --> 0:28:44.560
<v Speaker 1>I mean, you want to see an interesting merger, you know,

0:28:45.040 --> 0:28:51.160
<v Speaker 1>you know the Discovery Warner Brothers is very interesting UM precedent,

0:28:51.200 --> 0:28:53.440
<v Speaker 1>although I think that one is fairly unusual where the

0:28:53.520 --> 0:28:57.840
<v Speaker 1>Discovery managers ended up running a much bigger operation. But

0:28:57.880 --> 0:28:59.880
<v Speaker 1>that I think that's the exception rather than the Ruble

0:29:00.840 --> 0:29:04.360
<v Speaker 1>you know. I wondered what Rupert Murdoch would think after

0:29:04.400 --> 0:29:07.160
<v Speaker 1>reading this book. What what lessons do you think he

0:29:07.200 --> 0:29:10.440
<v Speaker 1>could take away as he sort of navigates his own

0:29:10.520 --> 0:29:15.520
<v Speaker 1>complexities of succession and a family empire. What should he

0:29:15.600 --> 0:29:19.440
<v Speaker 1>take away from your book? I think that he is

0:29:19.480 --> 0:29:22.320
<v Speaker 1>probably very pleased at the idea that people think succession

0:29:22.360 --> 0:29:28.440
<v Speaker 1>is not based on him. Yeah, I would second that.

0:29:29.760 --> 0:29:34.480
<v Speaker 1>And speaking of succession, and my last question, color me crazy,

0:29:34.560 --> 0:29:37.280
<v Speaker 1>but do you guys have a movie on your hands

0:29:37.320 --> 0:29:40.040
<v Speaker 1>with this book? Is this something you've got agents out

0:29:40.040 --> 0:29:45.080
<v Speaker 1>there pitching because I'm not joking. I could so see it. Well,

0:29:45.160 --> 0:29:47.920
<v Speaker 1>I think we can't say too much about that at

0:29:48.000 --> 0:29:53.200
<v Speaker 1>this point, Um, but it occurred to us maybe we didn't.

0:29:53.480 --> 0:29:56.800
<v Speaker 1>We didn't call them chapters. We called him episodes and

0:29:56.800 --> 0:29:58.880
<v Speaker 1>and really we were just kind of having fun with

0:29:59.120 --> 0:30:03.360
<v Speaker 1>We named it unscripted because it seemed like a you

0:30:03.360 --> 0:30:05.440
<v Speaker 1>could never make it up and be it's beyond any

0:30:05.520 --> 0:30:09.120
<v Speaker 1>reality TV I've seen. Uh, but you know, I've never

0:30:09.120 --> 0:30:11.400
<v Speaker 1>written a book expecting it to turn into movie. By

0:30:11.400 --> 0:30:14.200
<v Speaker 1>the way, none of my books have turned into movies. Um,

0:30:14.240 --> 0:30:16.640
<v Speaker 1>and I think Rache and I both agreed, let's can

0:30:16.680 --> 0:30:19.720
<v Speaker 1>we just write a really really good saga, a good story,

0:30:20.080 --> 0:30:23.480
<v Speaker 1>and be unsparing with it, and and then let the

0:30:23.560 --> 0:30:27.360
<v Speaker 1>chips hold they will something happens great. Well, I'm gonna

0:30:27.480 --> 0:30:30.880
<v Speaker 1>end with the prediction saying Succession has primed the market

0:30:30.960 --> 0:30:33.040
<v Speaker 1>for this kind of story. I'm looking forward to the

0:30:33.480 --> 0:30:37.200
<v Speaker 1>Netflix limited series coming soon. Jim Rachel, thank you so

0:30:37.280 --> 0:30:39.520
<v Speaker 1>much for taking the time out. Good luck with the book.

0:30:39.960 --> 0:30:42.400
<v Speaker 1>It was a great read. Thank you so much. And

0:30:49.880 --> 0:30:52.880
<v Speaker 1>this has been another episode of Strictly Business. Tune in

0:30:52.960 --> 0:30:56.440
<v Speaker 1>next week for another helping of scintillating conversation with media

0:30:56.520 --> 0:30:59.080
<v Speaker 1>movers and shakers, and please make sure you subscribe to

0:30:59.120 --> 0:31:02.479
<v Speaker 1>the podcast to hear future episodes. Also leave a review

0:31:02.520 --> 0:31:05.280
<v Speaker 1>in Apple Podcasts and let us know how we're doing.

0:31:09.920 --> 0:31:09.960
<v Speaker 1>H