Sumner Redstone

Viacom Owner Throws Up Hurdle to Paramount Sale

Darryl Hood,
Posted:

by Darryl Hood

In a move that further undermines Viacom CEO Philippe Dauman, the company’s controlling shareholder says it amended Viacom’s bylaws to require unanimous board approval for any full or partial sale of movie studio Paramount Pictures. The action further consolidates control in the hands of ailing media mogul Sumner Redstone and his daughter, Shari Redstone. The elder Redstone has said he’s…

Sumner Redstone Resigns as Chair of CBS

Darryl Hood,
Posted:

by Darryl Hood

NEW YORK (AP) – CBS says media mogul Sumner Redstone has resigned as chair of the company’s board, replaced by the company’s CEO, Leslie Moonves. The company says Redstone’s resignation took effect Tuesday and he now serves as chairman emeritus. He remains the executive chairman of Viacom. The 92-year-old’s health and mental capacity have been at the center of a…