Sumner Redstone, Billionaire Who Played Most Legal Battles
Sumner Redstone, the empire of ViacomCBS died at 97. viacomCBS is famous for its line of high-profile takeovers. According to his companions and the statements from ViacomCBS says that he passed away last Tuesday. He was suffering from elderly diseases and declining health for several years.
He was the lion’s share and chairman for the board of the National Amusements theatre chain. Sumner made his empire from the modest drive-in movie chain into a significant cinema operator, while maintaining leadership spot in the enterprise and prominence of the media industry during the late ’80s. During the 1980s, Sumner planned to take Viacomin to the next level of the entertainment industry. A well-planned spinoff of the CBS network which made them a significant power in cable television and addition of the popular MTV music channel.
He later acquired Paramount Pictures, one of the famous and successful Hollywood studios, Blockbuster Entertainment and distributors. Through the historical segregation of Viacom, the godfather of movie operations from CBS which took it from the slowest broadcast assets he possessed. Throughout the dramatic merchandise of the production house and the cable television, Sumner stayed in the steering wheel.
On 2019 ViacomCBS was reunited with CBS, in the interest of Sumner alone. His daughter Shari Redstone took over the control of the empire when Sumner exposed his lack of mental competence in Y2K, his family members alleged Shari Redstone manipulated him in order to take the complete control of the company before his brother Brent Redstone. At 92, Redstone stepped down from the operational role and became chairman emeritus for both CBS and Viacom amid a court battle over his mental fitness. A family spokesperson on Wednesday morning released his death news.
“My father led an extraordinary life that not only shaped entertainment as we know it today but created an incredible family legacy, 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.” Shari Redstone, Sumner’s daughter, said in a statement on Wednesday.