Billionaire Media Mogul Sumner Redstone Dead at 97

‘EXTRAORDINARY LIFE’

Jamie Ross

News Correspondent

Published Aug. 12, 2020 8:32AM ET

Reuters / Fred Prouser

Sumner Redstone—the billionaire media mogul whose empire stretched over CBS and Viacom—has died at the age of 97. Redstone controlled around 80 percent of the voting stock of Viacom and CBS through his private holding company, National Amusements, and had an estimated fortune of $3 billion, according to CNBC. His reputation was blemished in his final years by boardroom power struggles and sordid allegations by his former girlfriends. “My father led an extraordinary life that not only shaped entertainment as we know it today, but created an incredible family legacy,” Shari Redstone told Variety in a statement. “Through it all, we shared a great love for one another and he was a wonderful father, grandfather, and great-grandfather. I am so proud to be his daughter and I will miss him always.” Redstone’s assets will be taken over by his family trust that will continue to manage his controlling stake in ViacomCBS, Variety reports.

Read it at Variety

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