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New York:
Sumner Redstone, who constructed a media empire that features ViacomCBS with a string of high-profile takeovers, has died on the age of 97, his corporations mentioned Wednesday.
Statements from ViacomCBS and his National Amusements holding firm introduced that Redstone, who had been in declining well being for a number of years, died late Tuesday.
Redstone constructed his firm from a modest drive-in film chain into a serious cinema operator, sustaining management of the enterprise and prominence within the media trade nicely into his 80s.
In the 1980s, Redstone engineered a hostile takeover of Viacom, a derivative of the CBS community that had turn into a serious participant in cable tv and included the favored MTV music channel.
He later acquired Paramount Pictures, one of many main Hollywood studios, Blockbuster Entertainment after which led a merger with CBS.
In 2006, Viacom spun off CBS, separating the faster-growing cinema operations from the extra sluggish broadcast property, however Redstone remained answerable for each via his holding firm.
The two companies reunited final yr to turn into ViacomCBS.
In latest years, Redstone had been concerned in litigation over his well being and psychological competency that appeared at occasions like a tv cleaning soap opera.
His daughter Shari Redstone successfully managed the empire together with her father in reclusion, however different relations alleged he was manipulated by his daughter.
His granddaughter Keryn Redstone allied herself with the billionaire’s ex-girlfriend Manuela Herzer, who had been waging a battle to have the ailing mogul declared incompetent.
At 92, Redstone stepped again from an operational position and have become chairman emeritus at each CBS and Viacom amid a court docket battle over his psychological health.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
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