Sumner Redstone

Redstone appoints Dauman board replacement

Sumner Redstone has appointed two new members to the board of his family trust in the latest twist to the ongoing battle for control of Viacom. A storm has erupted following Redstone’s decision to remove Viacom CEO Philippe Dauman and lawyer George Abrams from that board, sparking a bitter war of words and a lawsuit […]

Viacom battle takes new turn with Dauman lawsuit

The increasingly bitter battle between Philippe Dauman and Sumner Redstone has taken a new turn with Viacom CEO Dauman issuing a lawsuit in an attempt to reverse a decision to removed him from a Redstone family trust. Dauman issued a lawsuit yesterday, alleging Shari Redstone, Sumner’s daughter, removed him from the trust illegally and that Sumner is […]

Redstone removes Dauman from trust as Viacom battle enters new phase

Viacom owner Sumner Redstone has hit out at CEO and executive chairman Philippe Dauman, saying he has made “baseless attacks and misrepresentations” and removed him from a trust that controls Viacom and CBS. A bitter war of words has since broken out with media commentators suggesting Redstone’s move is designed to put his daughter Shari […]

Analysts speak out on Dauman, Moonves appointments

Analysts have said Viacom is likely to remain on the same strategic course after the appointment of Philippe Dauman as president and executive chairman given Sumner Redstone, the previous chairman, has been ‘substantially less active in recent years’. Moody’s issued a note on Viacom in the wake of Dauman assuming the new role. While noting […]

Dauman to replace Redstone as chairman of Viacom

Philippe Dauman has been named executive chairman of US media giant Viacom, an appointment that board member Shari Redstone has publicly opposed. Dauman replaces Shari Redstone’s father, 92-year-old Sumner Redstone, as chair, in a repeat of the top-level changes at Redstone’s other media giant, CBS, this week. That saw Sumner Redstone resigning his chairman post, […]

Redstone successor ‘decided by trust’

CBS and Viacom owner Sumner Redstone has played down suggestions to will hand the keys to his empire to daughter Shari, and instead said a decision will be made by a seven-member trust. The 92-year-old mogul has been wrestling with how to lay out succession plans for some time, while several US media reports this […]