Is Sumner Redstone through as head of Viacom? Some people are asking that very question after it was revealed that the 91 year old will not be attending the company’s shareholders meeting scheduled for Monday.
This marks the first time that Viacom’s chairman and majority shareholder has ever missed such a meeting. Redstone’s absence will surely add to the speculation that he is finished and cause even more vultures to begin circling the company.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Sumner Redstone, born Sumner Murray Rothstein, has a net worth of about $6.1 billion, according to Forbes. He has no clear successor at Viacom.
Over at CBS, Viacom’s sister company also controlled by Redstone, CEO Les Moonves has been making moves to take control there after the end of the Redstone era.
This year’s meeting is expected to open Monday morning at 11:30 AM in Miami Beach, where the company has its international headquarters.
