Mel Karmazin
Encyclopedia
Melvin Alan "Mel" Karmazin (born August 24, 1943) is an American
executive. He co-founded and was the president of Infinity Broadcasting
and eventually became the president and chief executive officer
of CBS
. As of 2008, he is the CEO of Sirius XM Radio.
, New York
, Karmazin was selling radio ads at the age of 17. He graduated from Pace University
with a bachelor's degree in business administration and worked his way up from the bottom rungs of the radio ladder in New York City
.
Karmazin presided over New York's WNEW-AM
(now WBBR
) and WNEW (now WNEW-FM) for Metromedia
when he was approached to run Infinity Broadcasting in 1981. Soon after he would add fellow New York stations WKTU-FM and WFAN
into Infinity's stable. WFAN morning talent Don Imus
often referred to Karmazin on the air, never by name, but by the nickname "The Zen Master".
Karmazin ran Infinity for 15 years, then sold the company to Westinghouse
, then parent of CBS. For most of his career he has been known as a "Wall Street darling" for his ability to drive up the price of his various companies' stock. "The joke about him was that he was so pushy that advertisers used to buy airtime from Mel just to get him out of their office," according to a Fortune magazine article.
When Infinity merged with CBS Corporation
in January 1997, Karmazin would first head CBS Radio
as chairman and CEO. By May of the same year he would become Chairman and Chief Executive Officer of the CBS Station Group, overseeing the network's radio and television properties. He served as President and Chief Operating Officer of CBS Corporation from April 1998 until January 1999. Viacom
, a media conglomerate
that includes CBS
, UPN
, MTV
, BET
, Comedy Central
, Paramount Pictures
and Showtime
, absorbed CBS Corporation as of 2000.
As an executive of an even bigger conglomerate, Karmazin and Viacom chief Sumner Redstone
had many differences, leading to Karmazin's resignation in May 2004. Karmazin later said he didn't get along with Redstone and found it difficult to be "No. 2" at a company, but particularly under Redstone. The two executives continued to snipe at each other through the media even a year after Karmazin left Viacom.
Karmazin accepted the top job at Sirius
in November 2004. He was a strong supporter of radio disc jockey Howard Stern
at Viacom, and Karmazin joined Sirius Radio after Stern did. However, since joining Sirius Radio, the stock of SIRI has not fared well, dropping from approximately $3 to under $2 this year.
In his first year at Sirius, Fortune magazine reported in November 2005, Karmazin reached deals with Ford and BMW to include the company's radios in their new cars and helped launch Sirius's first portable music player (both initiatives were in the wake of Sirius's rival, XM Radio, pioneering those moves). He also recruited Martha Stewart
to Sirius, acquired the programming rights to NASCAR
, and raised $500,000,000 in debt financing.
Karmazin has been inducted into the Broadcasting Hall of Fame, the National Radio Hall of Fame, a recipient of the National Association of Broadcasters National Radio Award, and the IRTS Gold Medal.
A resident of Greenwich, Connecticut
, he has a son Craig, born July 11, 1975, and a daughter Dina, born in 1971, from his marriage to Sharon Karmazin, which ended in divorce
in 1994.
Craig Karmazin has followed in his father's footsteps, starting when he interned at Infinity-owned WIP (AM) in Philadelphia in 1997. Today, Craig is the principal owner of the Beaver Dam, Wisconsin
-based Good Karma Broadcasting
, which owns eleven radio stations in four states, including eight sports radio
stations.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
executive. He co-founded and was the president of Infinity Broadcasting
CBS Radio
CBS Radio, Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, third behind main rival Clear Channel Communications and Cumulus Media. CBS Radio owns around 130 radio stations across the country...
and eventually became the president and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of CBS
CBS
CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of...
. As of 2008, he is the CEO of Sirius XM Radio.
Biography
Born in ManhattanManhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, Karmazin was selling radio ads at the age of 17. He graduated from Pace University
Pace University
Pace University is an American private, co-educational, and comprehensive multi-campus university in the New York metropolitan area with campuses in New York City and Westchester County, New York.-Programs:...
with a bachelor's degree in business administration and worked his way up from the bottom rungs of the radio ladder in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
Karmazin presided over New York's WNEW-AM
WBBR
WBBR is a radio station broadcasting at 1130 AM in New York City. It airs Bloomberg Radio, a service of Bloomberg L.P. WBBR's format is general and financial news, offering local, national and international news reports along with financial market updates and interviews with corporate executives,...
(now WBBR
WBBR
WBBR is a radio station broadcasting at 1130 AM in New York City. It airs Bloomberg Radio, a service of Bloomberg L.P. WBBR's format is general and financial news, offering local, national and international news reports along with financial market updates and interviews with corporate executives,...
) and WNEW (now WNEW-FM) for Metromedia
Metromedia
Metromedia was a media company that owned radio and television stations in the United States from 1956 to 1986 and owned Orion Pictures from 1986-1997.- Overview :...
when he was approached to run Infinity Broadcasting in 1981. Soon after he would add fellow New York stations WKTU-FM and WFAN
WFAN
WFAN , also known as "Sports Radio 66" or "The FAN", is a radio station in New York City. The station broadcasts on a clear channel and is owned by CBS Radio...
into Infinity's stable. WFAN morning talent Don Imus
Don Imus
John Donald "Don" Imus, Jr. is an American radio host, humorist, philanthropist and writer. His nationally-syndicated talk show, Imus in the Morning, is broadcast throughout the United States by Citadel Media and relayed on television by the Fox Business Network.-Personal life:Imus was born in...
often referred to Karmazin on the air, never by name, but by the nickname "The Zen Master".
Karmazin ran Infinity for 15 years, then sold the company to Westinghouse
Westinghouse Electric (1886)
Westinghouse Electric was an American manufacturing company. It was founded in 1886 as Westinghouse Electric Company and later renamed Westinghouse Electric Corporation by George Westinghouse. The company purchased CBS in 1995 and became CBS Corporation in 1997...
, then parent of CBS. For most of his career he has been known as a "Wall Street darling" for his ability to drive up the price of his various companies' stock. "The joke about him was that he was so pushy that advertisers used to buy airtime from Mel just to get him out of their office," according to a Fortune magazine article.
When Infinity merged with CBS Corporation
CBS
CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of...
in January 1997, Karmazin would first head CBS Radio
CBS Radio
CBS Radio, Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, third behind main rival Clear Channel Communications and Cumulus Media. CBS Radio owns around 130 radio stations across the country...
as chairman and CEO. By May of the same year he would become Chairman and Chief Executive Officer of the CBS Station Group, overseeing the network's radio and television properties. He served as President and Chief Operating Officer of CBS Corporation from April 1998 until January 1999. Viacom
Viacom
Viacom Inc. , short for "Video & Audio Communications", is an American media conglomerate with interests primarily in, but not limited to, cinema and cable television...
, a media conglomerate
Media conglomerate
A media conglomerate, media group or media institution is a company that owns large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet...
that includes CBS
CBS
CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of...
, UPN
UPN
United Paramount Network was a television network that was broadcast in over 200 markets in the United States from 1995 to 2006. UPN was originally owned by Viacom/Paramount and Chris-Craft Industries, the former of which, through the Paramount Television Group, produced most of the network's...
, MTV
MTV
MTV, formerly an initialism of Music Television, is an American network based in New York City that launched on August 1, 1981. The original purpose of the channel was to play music videos guided by on-air hosts known as VJs....
, BET
Black Entertainment Television
Black Entertainment Television is an American, Viacom-owned cable network based in Washington, D.C.. Currently viewed in more than 90 million homes worldwide, it is the most prominent television network targeting young Black-American audiences. The network was launched on January 25, 1980, by its...
, Comedy Central
Comedy Central
Comedy Central is an American cable television and satellite television channel that carries comedy programming, both original and syndicated....
, Paramount Pictures
Paramount Pictures
Paramount Pictures Corporation is an American film production and distribution company, located at 5555 Melrose Avenue in Hollywood. Founded in 1912 and currently owned by media conglomerate Viacom, it is America's oldest existing film studio; it is also the last major film studio still...
and Showtime
Showtime Networks
Showtime Networks, Inc. is the corporate division of media conglomerate CBS Corporation.The company was established in 1983 as Showtime/The Movie Channel, Inc. after Viacom and Warner-Amex Satellite Entertainment merged their premium channels, Showtime and The Movie Channel respectively, into one...
, absorbed CBS Corporation as of 2000.
As an executive of an even bigger conglomerate, Karmazin and Viacom chief Sumner Redstone
Sumner Redstone
Sumner Murray Redstone is an American media magnate. He is the majority owner and Chairman of the Board of the National Amusements theater chain...
had many differences, leading to Karmazin's resignation in May 2004. Karmazin later said he didn't get along with Redstone and found it difficult to be "No. 2" at a company, but particularly under Redstone. The two executives continued to snipe at each other through the media even a year after Karmazin left Viacom.
Karmazin accepted the top job at Sirius
Sirius Satellite Radio
Sirius Satellite Radio is a satellite radio service operating in North America, owned by Sirius XM Radio.Headquartered in New York City, with smaller studios in Los Angeles and Memphis, Sirius was officially launched on July 1, 2002 and currently provides 69 streams of music and 65 streams of...
in November 2004. He was a strong supporter of radio disc jockey Howard Stern
Howard Stern
Howard Allan Stern is an American radio personality, television host, author, and actor best known for his radio show, which was nationally syndicated from 1986 to 2005. He gained wide recognition in the 1990s where he was labeled a "shock jock" for his outspoken and sometimes controversial style...
at Viacom, and Karmazin joined Sirius Radio after Stern did. However, since joining Sirius Radio, the stock of SIRI has not fared well, dropping from approximately $3 to under $2 this year.
In his first year at Sirius, Fortune magazine reported in November 2005, Karmazin reached deals with Ford and BMW to include the company's radios in their new cars and helped launch Sirius's first portable music player (both initiatives were in the wake of Sirius's rival, XM Radio, pioneering those moves). He also recruited Martha Stewart
Martha Stewart
Martha Stewart is an American business magnate, author, magazine publisher, and television personality. As founder of Martha Stewart Living Omnimedia, she has gained success through a variety of business ventures, encompassing publishing, broadcasting, and merchandising...
to Sirius, acquired the programming rights to NASCAR
NASCAR
The National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...
, and raised $500,000,000 in debt financing.
Karmazin has been inducted into the Broadcasting Hall of Fame, the National Radio Hall of Fame, a recipient of the National Association of Broadcasters National Radio Award, and the IRTS Gold Medal.
A resident of Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
, he has a son Craig, born July 11, 1975, and a daughter Dina, born in 1971, from his marriage to Sharon Karmazin, which ended in divorce
Divorce
Divorce is the final termination of a marital union, canceling the legal duties and responsibilities of marriage and dissolving the bonds of matrimony between the parties...
in 1994.
Craig Karmazin has followed in his father's footsteps, starting when he interned at Infinity-owned WIP (AM) in Philadelphia in 1997. Today, Craig is the principal owner of the Beaver Dam, Wisconsin
Beaver Dam, Wisconsin
Beaver Dam is a city in Dodge County, Wisconsin, United States, along Beaver Dam Lake and the Beaver Dam River. The population was 16,243 at the 2010 census, making it the second largest city in Dodge County, and the largest city fully located within the county. It is the principal city of the...
-based Good Karma Broadcasting
Good Karma Broadcasting
Good Karma Broadcasting LLC is a broadcasting company in the United States. Good Karma operates eleven radio stations in the states of Wisconsin, Ohio, and Florida...
, which owns eleven radio stations in four states, including eight sports radio
Sports radio
Sports radio is a radio format devoted entirely to discussion and broadcasting of sporting events. A popular format with an almost exclusively male demographic in most areas, sports radio is characterized by an often-boisterous on-air style and extensive debate and analysis by both hosts and...
stations.