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Viacom Plans to Start Gay TV Channel (Dow Jones)
Sumner Redstone, Viacom Inc.'s chairman and chief executive, doesn't like to admit mistakes. But he confessed to one this month: The media company shouldn't have abandoned plans it was studying two
years ago for a cable network aimed at gays, Monday's Wall Street Journal reported. Such a channel now could "be worth a billion dollars," Mr. Redstone told analysts and investors, and would have cost
only $30 million to launch.
