Two of the largest shareholders in Viacom Inc have made the highly unusual move of publicly questioning Sumner Redstone’s mental fitness to remain executive chairman of the multi-billion dollar media company.
Mario Gabelli, whose funds hold the second-largest voting stake in Viacom after Redstone himself, and Salvatore Muoio, whose firm is the seventh-biggest voting shareholder, voiced the concerns a week after a former girlfriend of Redstone filed a lawsuit alleging that the 92-year-old mogul was mentally incompetent.
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The investors’ expressions of doubt about the mental competence of a high-profile company executive came as a surprise, but gossip column reports and heavy secrecy around the health of the media mogul have led to intense speculation over the future of Redstone and his $45 billion media empire.
Read the full story at Reuters, by Jessica Toonkel
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