Sumner Redstone, Media Mogul Who Headed Viacom, Dies At 97

New York:

Sumner Redstone, who constructed a media empire that features ViacomCBS with a string of high-profile takeovers, has died on the age of 97, his firms mentioned Wednesday.

Statements from ViacomCBS and his Nationwide Amusements holding firm introduced that Redstone, who had been in declining well being for a number of years, died late Tuesday.

Redstone constructed his firm from a modest drive-in film chain into a serious cinema operator, sustaining management of the enterprise and prominence within the media business effectively into his 80s.

Within the 1980s, Redstone engineered a hostile takeover of Viacom, a derivative of the CBS community that had develop into a serious participant in cable tv and included the favored MTV music channel.

He later acquired Paramount Photos, one of many main Hollywood studios, Blockbuster Leisure after which led a merger with CBS.

In 2006, Viacom spun off CBS, separating the faster-growing cinema operations from the extra sluggish broadcast belongings, however Redstone remained in charge of each by way of his holding firm.

The 2 companies reunited final yr to develop into ViacomCBS.

In recent times, Redstone had been concerned in litigation over his well being and psychological competency that appeared at instances like a tv cleaning soap opera.

His daughter Shari Redstone successfully managed the empire together with her father in reclusion, however different members of the family alleged he was manipulated by his daughter.

His granddaughter Keryn Redstone allied herself with the billionaire’s ex-girlfriend Manuela Herzer, who had been waging a battle to have the ailing mogul declared incompetent.

At 92, Redstone stepped again from an operational position and have become chairman emeritus at each CBS and Viacom amid a courtroom battle over his psychological health.

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