ViacomCBS head Sumner Redstone passes away at 97

The media magnate had been battling both ill-health and litigations with respect to his mental competency over the last few years

e4m by exchange4media Staff
Updated: Aug 13, 2020 8:58 AM
sumner redstone

Media magnate Sumner Redstone who headed Viacom Inc and CBS has passed away at 97. He has been credited with building a media empire and heading many high-profile takeovers during his illustrious career. Reports say that Redstone had been ailing for many years prior to his demise. He had also been involved in legal cases with respect to his failing health and mental competency in the last few years.

Redstone has been responsible for turning his modest venture, a drive-in movie chain, into a major cinema operator. In the 80s, he is known to have engineered the hostile takeover of Viacom, the CBS Network spinoff which also included MTV.

The American media magnate also acquired Paramount Pictures, Blockbuster Entertainment and led a merger with CBS.

He was the majority owner and the chairman of the board of the National Amusements theatre chain. Redstone was formerly the executive chairman of CBS and Viacom, but had to resign from the post following a court-ordered examination by a geriatric psychiatrist. He was succeeded by Les Moonves at CBS and Philippe Dauman at Viacom.

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