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After tense negotiations—much of it played out in the media— Viacom President Mel Karmazin, at least nominally, buried the hatchet with CEO Sumner Redstone last week by signing a new three-year contract with the media conglom. The deal allows Karmazin—known for his operating wizardry—to maintain broad operating authority but confers Redstone with more power to overrule him… Valpak has partnered with 20th Century Fox for the release this summer of two major motion pictures, "Down With Love," starring Renee Zellweger, and "X2." the sequel to "X-Men," the Marvel comic-based hit of 2000. Promos for both pics will appear on the more than 50 million blue Valpak coupons arriving in homes over the next month.… American Honda Motor Co. will be featuring two customized Civic SI's designed by the bands Good Charlotte and New Found Glory, the co-headliners of the Civic Tour 2003, which kicks off April 8. The cars will be awarded via a national online sweepstakes.
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