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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?
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.
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