When Two's A Crowd

Does Viacom's founder have a problem letting go? Or is the heir apparent just too aggressive?

Every socialite and CEO in Manhattan knows not to invite Sumner Redstone and Mel Karmazin to the same party. So when the twin egos of media giant Viacom unexpectedly shared the stage during a dinner for investors last Thursday, they generated quite a buzz. Some who have bet heavily on the success of Viacom--whose properties include CBS, MTV and Paramount studios--took heart that the feuding titans made a public show of getting along. "Their message was simple," Bear Stearns stock analyst Raymond Katz wrote in a report on Friday. "Their partnership, built on a mutuality of self-interest and a similar business...

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