Session: 1234567891011121314151617         Page 550551552553554555556557558559560561562563564565566567568569570571572573574575576577578579580581582583584 of 755

destined to be a successful operation. No question about that. I knew that when I set it up, because it was successful within CBS. That's one of the reason, I think, the FCC wanted us to get out of it--because it was making us stronger rather than “keeping us on a level playing field,” as they used to say.

Then Viacom went through a number of changes and acquisitions and its ownership changed. It went public.

Did you anticipate that that would happen--that it would separate off?

Well, I said it “went public.” That's inaccurate. It was public when it was established, because each person who had a share of CBS had an extra share of--I've forgotten what the ratio was, but it was a small percentage of a share in this new company. So it was public from the very beginning.

Financially, what was its base in the beginning? What kind of--

Money did it have to start with?

Yes.

Well, it had the assets of--everything that we had in CBS we transferred to this new company. And it had a lot of syndicated product. It had “I Love Lucy” and programs of that kind to sell to stations. It was viable from the very first day.