Sumner Redstone in talks to buy out daughter
More chatter regarding Sumner Redstone buying out his daughter’s shares of Viacom/National Amusements.
Sumner Redstone is negotiating to buy out his daughter Shari’s equity interest in Viacom Inc and CBS Corp, but the two sides have not reached a deal, his spokesperson said on Thursday.
The spokesperson also denied a CNBC online report that quoted the 85-year-old media mogul saying in an interview that his daughter was not qualified to succeed him.
For a long time, Shari Redstone had been expected to take the mantle from her father as chairman of Viacom and CBS, but their public dispute over corporate governance last year has left the issue of succession unclear.
Read the full story in Reuters.