Here’s a story that probably sent Dan Rather straight to the Xanax bottle: Viacom CEO Sumner Redstone is a Bush supporter.

With the scandal at CBS still festering, questions are being raised about whether a felony was committed when the network broadcast apparently forged memos in an attempt to discredit George W. Bush. Yesterday, the chairman of CBS’s parent company chose Hong Kong as a place to drop a little bomb. Sumner Redstone, who calls himself a “liberal Democrat,” said he’s supporting President Bush.

The chairman of the entertainment giant Viacom said the reason was simple: Republican values are what U.S. companies need. Speaking to some of America’s and Asia’s top executives gathered for Forbes magazine’s annual Global CEO Conference, Mr. Redstone declared: “I look at the election from what’s good for Viacom. I vote for what’s good for Viacom. I vote, today, Viacom.”

“I don’t want to denigrate Kerry,” he went on, “but from a Viacom standpoint, the election of a Republican administration is a better deal. Because the Republican administration has stood for many things we believe in, deregulation and so on. The Democrats are not bad people. … But from a Viacom standpoint, we believe the election of a Republican administration is better for our company.”

Sharing the stage with Mr. Redstone was Steve Forbes, CEO, president and editor in chief of Forbes and a former Republican presidential aspirant, who quipped: “Obviously you’re a very enlightened CEO.”