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.
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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.