Viacom's Sumner Redstone is the richest working media andentertainment mogul in the U.S.

Broadcasting & Cable, October, 1998

Viacom's Sumner Redstone is the richest working media and entertainment mogul in the U.S., coming in 15th with $6.4 billion, according to Forbes magazine listing of the 400 richest people in America. News Corp. CEO Rupert Murdoch followed Redstone with $5.6 billion at number 18, edging out his arch-rival Time Warner Vice Chairman Ted Turner with $5 billion at number 19.

Cable barons TCI Chairman John Malone and unemployed Amos Hostetter, Continental Cablevision founder, tied for 60th place with $2.5 billion apiece. But even though media and entertainment is booming, it's not enough to overcome the Microsoft billionaires that again topped the list. Also weighing in at number 11 is former Metromedia mogul John Kluge at $9.8 billion.