Sumner Redstone, Billionaire Media Mogul, Dead At 97

Starting With A Chain of Drive-In Theaters, Mr. Redstone Negotiated, Sued And Otherwise Fought To Amass A Domain That Included CBS and Viacom

Style Magazine Newswire | 8/14/2020, 1:01 p.m.
Sumner Redstone, a media titan and billionaire who, as chairman of Viacom and National Amusements, drew headlines both for his …

Sumner Redstone, a media titan and billionaire who, as chairman of Viacom and National Amusements, drew headlines both for his deal-making as well as his turbulent personal life, died on Tuesday. He was 97.

Beginning with a modest chain of drive-in movie theaters, Mr. Redstone negotiated, sued and otherwise fought to amass holdings that over time included CBS, the Paramount film and television studios, the publisher Simon & Schuster, the video retail giant Blockbuster and a host of cable channels, including At his peak, Redstone’s sprawl- ing empire included CBS and Viacom (VIACA), corporations that were the parents of a host of subsidiaries ranging from Paramount Pictures and MTV to Comedy Central and SpiMTV, Comedy Central and Nickelodeon. At their peak, the businesses were worth more than $80 billion.

Toward the end of his life, he controlled about 80 percent of the voting stock in Viacom and CBS, presiding over both through National Amusements. And almost to the end, his grip was tight and his enthusiasm undiminished.

“My father led an extraordinary life that not only shaped entertainment as we know it today, but created an incredible family legacy,” Sumner’s daughter Shari Redstone said in a statement on Wednesday. “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.”

News of his passing was announced on Wednesday by a family spokesperson.

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