Media mogul and CBS and Viacom Chairman Emeritus Sumner Redstone has died at the age of 97, National Amusements, and ViacomCBS confirmed this Wednesday, Aug. 12.
Media Mogul Has Died
In a report by Variety, Redstone passed away Tuesday afternoon, Aug. 11, in his home in Los Angeles. The cause of his death was not mentioned.
"My father led an extraordinary life that not only shaped entertainment as we know it today but created an incredible family legacy," Shari Redstone, the mogul's daughter, and the current ViacomCBS chairman said. "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."
Sumner and Shari only recently reconnected after years of the public battle between the mogul and his family.
Additionally, he had been in the headlines due to various controversies during the past years after corporate battles, as well as sordid allegations from his former girlfriends.
Contribution to Modern Media
National Amusements also stated the mogul, noting his contribution to shaping the modern media landscape, saying that he was a "man of unrivaled passion and perseverance" and that the media industry has lost one of its greatest champions.
Based on the report, Sumner Redstone's assets will be taken over by the Redstone family trust, with Shari and other family members as the trustees.
According to Reuters, the mogul became well-known for building an empire out of his father's movie theater chain, creating giant companies like MTV, Paramount Pictures, and CBS.
Redstone controlled both Viacom Inc. (VIA.O) and the CBS Corp. (CBS.N) as an executive chairman through privately held National Amusements and combined Viacom and CBS in 2000 and 2006 when the media mogul decided to separate them in an attempt to unleash Viacom's cable channel's value.
He also famously proclaimed, "content is king."
Legal Battles and Controversies
In 2016, Redstone stepped down as executive chairman of both companies as stakeholders and activists began questioning his mental capacity and his physical health's state.
In the same year, his daughter Shari faced against his one-time protege Philippe Dauman, along with his former girlfriends Sydney Holland and Manuela Herzer, in a legal battle, but his daughter prevailed.
Unfortunately, Dauman was not the only person who tried to battle with him as people from both his company and elsewhere.
He was even in a controversy with actor Tom Cruise after he famously dropped Cruise from a deal with Paramount back in 2006 as he believed the actor's unusual behavior negatively affected the ticket sales for one of his movies, Mission: Impossible III.
Sumner Redstone was also known to have a rocky relationship with his family, including his children Shari and Brent.
Nevertheless, he and his daughter have begun talking and were in close contact for the last three years of his life.
In his memoir, the mogul wrote: "Chronological age has little to do with intellectual capacity, the ability to work, the ability to lead. In fact, I often surprise my younger colleagues by being the first to accept and, indeed, suggest new ideas and new agendas when the assumption is I will hold on to the old ones like a bulldog...I still want to be No. 1."
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Written by: Nhx Tingson
