Late media magnate Sumner Redstone has been honored by the city of New York.
A portion of a Times Square street off 44th and 7th, which runs in front of the Paramount Global Headquarters, was renamed Sumner Redstone Way at a street-naming ceremony Tuesday with the Redstone family, senior leaders from Paramount Global and Councilmember Erik Bottcher of District 3 all in attendance to recognize Redstone’s contributions to the media and entertainment industry.
“My father was one of the great champions of the media industry. By taking smart risks, never making a decision out of fear and doing things his way, he drove the industry continuously forward,” Shari Redstone, chair of Paramount Global and president and CEO of the Redstone Family Foundation, said at the event.
“His achievements live on today in countless ways, including Paramount’s commitment to creating content that excites, informs and educates audiences and leaves them coming back for more. I want to thank the city for honoring my father and all the incredibly talented individuals at Paramount who bring his vision to life.”
Bottcher said: “Sumner Redstone was a transformative figure in the media landscape, leaving a significant mark on New York City through his leadership of Viacom and CBS. Under his stewardship, these companies produced iconic television shows and films that shaped American culture. Redstone’s vision helped elevate New York as a global media hub, attracting talent and investment to the city.”
“His commitment to innovation in entertainment, coupled with strategic acquisitions, not only expanded the reach of his companies but also reinforced New York’s status as a center for creativity and media excellence. It’s an honor to celebrate his legacy with his family in the heart of Times Square, the media center of the world.”
George Cheeks, Chris McCarthy and Brian Robbins, co-CEOs of Paramount Global, also honored Redstone. “It is an honor to celebrate Sumner Redstone, without whom our storied company would not exist,” they said in a statement. “Sumner’s support and belief in this organization, along with a clear vision that content is king, transformed Paramount into one of the leading global entertainment companies with some of the most compelling assets in the industry.”
The measure to rename the portion of the street was introduced by then-City Council Speaker Corey Johnson on Dec. 15, 2021. The bill was adopted a month later on Jan. 15, 2022.
Redstone died on Aug. 12, 2020, at the age of 97.
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