Michael Redstone

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Michael Redstone
Michael Redstone in 1947.jpg
Michael Redstone (center) in 1947
Born
Max Rothstein

(1902-04-11)April 11, 1902[1]
Boston, Massachusetts, United States
DiedApril 4, 1987(1987-04-04) (aged 84)
Bal Harbour, Florida, United States
NationalityAmerican
OccupationBusinessman; theater owner
Spouse(s)Belle Ostrovsky Redstone
ChildrenEdward Redstone
Sumner Redstone

Michael "Mickey" Redstone (born Max Rothstein;[2] April 11, 1902 – April 4, 1987) was the founder of the Northeast Theater Corporation, now National Amusements, Inc.[3]

Biography[]

Redstone was born on April 11, 1902 in Boston, Massachusetts.[4] Born Max Rothstein, he later changed the family name to "Redstone" to avoid association with Jewish gambling boss Arnold Rothstein.[5]

Redstone dropped out of high school to pursue his first business venture, buying a truck and securing a trucking contract with the City of Boston. During this period, he became close with local gambling boss Harry “Doc” Sagansky.[5] In 1934, Redstone and Sagansky started a Boston nightclub, the Mayfair, and purchased a drive-in theater in Valley Stream, Long Island. Both ventures were funded by Sagansky, who contributed “hundreds of thousands of dollars” to Redstone’s businesses.[5][6][7] The pair also started a Massachusetts loan company, and opened an additional night club, the Latin Quarter, in 1943.[4][7]

In 1936, Redstone established the Northeast Theater Corporation, which grew rapidly as Redstone purchased land throughout the northeast and built new drive-in theaters.[4][8] By 1954, when his son Sumner left his job to work for the company, Redstone owned three drive-in theaters and had hired his son Edward to help with the business.[8] On August 28, 1959, Northeast was reincorporated as National Amusements, Inc. to consolidate the family's ownership interests and make it easier to obtain financing.[9][10]

His son, Sumner Redstone, grew National Amusements into one of the largest media conglomerates in the United States, owning one of the three broadcast networks in CBS, the cable television and content provider Viacom (which includes MTV Networks and BET), and the movie studio Paramount Pictures. CBS and Viacom are equal partners in MovieTickets.com.

References[]

  1. ^ SSDI entry for Michael Redstone.
  2. ^ "Max Rohtstein and Bella Ostrovsky, 14 Dec 1921".
  3. ^ "Sumner Redstone Fast Facts". 16 May 2013.
  4. ^ a b c Boston Globe: "MICHAEL REDSTONE, OWNED THEATERS, LATIN QUARTER NIGHTCLUB; AT 85 April 6, 1987
  5. ^ a b c "1902: The Boston Trucker Who Founded the Firm That Swallowed Up CBS and Viacom Is Born". Haaretz. Retrieved 2022-01-12.
  6. ^ Lee, Edmund (2020-08-12). "Sumner Redstone, Hollywood Brawler". The New York Times. ISSN 0362-4331. Retrieved 2022-01-12.
  7. ^ a b Belfanti, Sebastian. "» Harry J. "Doc" SaganskyThe West End Museum". Retrieved 2022-01-12.
  8. ^ a b "Family Feud". Forbes. Retrieved 2022-01-12.
  9. ^ "The Family Redstone: multibillion history of dysfunction". The Seattle Times. 2007-08-05. Retrieved 2022-01-12.
  10. ^ Estate of Edward S. Redstone, Deceased, Madeline M. Redstone, Executrix v. Commissioner of Internal Revenue, 11 T.C. 145 (United States Tax Court 2015).

External links[]

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