Media mogul Sumner Redstone dies aged 97 | Malay Mail

Former media mogul Sumner Redstone delivers a speech during the Global Overview conference at the 2007 Global Conference Sessions in Beverly Hills, California in this April 24, 2007 file photo. — AFP pic

Statements from ViacomCBS and his National Amusements holding company announced that Redstone, who had been in declining health for several years, died late yesterday. In the 1980s, Redstone engineered a hostile takeover of Viacom, a spinoff of the CBS network that had become a major player in cable television and included the popular MTV music channel.

In 2006, Viacom spun off CBS, separating the faster-growing cinema operations from the more sluggish broadcast assets, but Redstone remained in control of both through his holding company.In recent years, Redstone had been involved in litigation over his health and mental competency that seemed at times like a television soap opera.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Arrested Hong Kong media tycoon tells staff to ‘fight on’ | Malay MailHONG KONG, Aug 12 — Hong Kong pro-democracy media mogul Jimmy Lai today told his reporters to “fight on” following his dramatic arrest, as China widens its crackdown on critics in the semi-autonomous business hub. A clampdown has gathered pace in Hong Kong since Beijing imposed a sweeping...
Source: malaymail - 🏆 1. / 86 Read more »

Container lines resume calls to Beirut as terminal restarts operations | Malay MailLONDON, Aug 12 — Container lines have resumed calls to Beirut after last week's explosion, with the terminal having sustained only minor damage, leading companies said yesterday. The August 4 blast in Beirut's port, which killed more than 160 people and injured 6,000 more, demolished entire...
Source: malaymail - 🏆 1. / 86 Read more »