The boss of MTV, CBS and Paramount Studios has called on the US government to lift the ban on British companies buying into American TV and newspaper groups.
Sumner Redstone, 79, who is chairman and controlling shareholder of the world's fourth largest media group, Viacom, made his remarks following a summit with Tony Blair yesterday to discuss proposed UK reforms that will allow American companies buy ITV or Channel 5 for the first time.
"I told Tony Blair I agreed with the proposed bill because I believe in deregulation," Mr Redstone said.
"So if your government decides to open the market to American media companies, then America should consider extending a similar spirit of openness."
His remarks are seen as significant given America's long-standing opposition to foreign media owners - Rupert Murdoch famously had to swap his Australian passport for an American one to create Fox TV in the US.
Mr Redstone also said the Americans need not fear British owners because of its "long tradition of producing innovative high quality content the US audiences love.".
But he added he had no plans to make a bid for British TV stations.
Mr Redstone said his company was "intrigued" by the UK government's plan to allow American firms to buy ITV, but added: "We have no plans for an acquisition of ITV, or any other UK broadcast asset, at the moment.
"But we'll continue to monitor development very closely. So, as we say in our business - stay tuned," he said, speaking at a Royal Television Society dinner in London last night.
"Our financial objectives are focused squarely on generating free cash flow that we can use to grow our businesses internally and through acquisition - and to buy back stock, which we're doing aggressively. Anything we do must be accretive and add to profits right away."
Viacom already employs 10,000 staff in the UK, working for subsidiaries including pay TV channels MTV, VH1, Nickelodeon and Paramount Comedy Channel.
The firm, which has a US stock market valuation of $24bn, also owns Blockbuster Video, UCI Cinemas, Paramount Pictures, film distributor UIP, publisher Simon & Schuster and poster advertising firm Viacom Outdoor.
In the US Viacom owns the CBS and UPN broadcast networks.
