The battle over the estate of billionaire Sumner Redstone has been in the news lately as multiple parties seek to position themselves for control after Sumner’s death. Despite years of estrangement, his daughter Shari is set to be a major player in the fight due to her position as trustee, in addition to the large stake she personally owns, of the trust that will hold the controlling voting shares in CBS and Viacom. While she is not to be a beneficiary of the trust, only the surviving grandchildren of Sumner at his death qualify, her position will help influence the future of the media empire. However, she will have to compete with other trustees, including the current CEO of Viacom, with all decisions being by majority vote which limits her power. In any event, she will be a voice that demands to heard when it comes to the future of some of the most important media companies in existence.
See Emily Steel, Shari Redstone prepares for battle to control a media empire, Business Standard, March 12, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
