Report: Shari Redstone To Become Chair Of CBS, Viacom
May 7, 2015 at 6:33 AM (PT)
The NEW YORK POST, previewing a VANITY FAIR article on CBS CORP. and VIACOM Chairman SUMNER REDSTONE, reports that his daughter SHARI REDSTONE will become the Chairman of both CBS and VIACOM under the terms of a trust that is being set up to take over controlling interests in the media companies.
SHARI REDSTONE, presently Managing Partner of ADVANCIT CAPITAL and President of NATIONAL AMUSEMENTS, and her son TYLER KORFF will join lawyers NORMAN JACOBS and LEONARD LEWIN as members of the seven-seat board of the trust. A source told the POST that SHARI REDSTONE "may decide to sell CBS and keep VIACOM," but a spokesperson said "it would not be appropriate for Ms. REDSTONE to comment on what the board of two public companies might do in the future.”
Conflicting reports on SUMNER REDSTONE's health have generated speculation about the future of CBS and VIACOM; in the VANITY FAIR piece, which notes that one source wonders if he is capable of understanding legal documents and suggests that his girlfriend SYDNEY HOLLAND and former girlfriend MANUELA HERZER are managing more of his life, REDSTONE responded to e-mail questions by insisting, "You should know that I am never retiring!!!" and plans to attend the CBS annual meeting on MAY 21st.