A deal has been struck between embattled billionaire Sumner Redstone and his former girlfriend and health care director Manuela Herzer. While specific terms of the agreement have not been revealed, Redstone’s daughter Shari provided some details including that Herzer will not receive more than $70 million although it would be a substantial sum nonetheless. In addition, the settlement will shift health care control to Shari while reaffirming Philippe Dauman as chairman of Viacom despite the recent stock woes of the media giant. The driving force behind the deal was the desire to avoid a nasty court battle over the mental and physical health of Redstone which has been subject to questions as of late. However, litigation is expected, after the aging moguls death, for the management of the various media outlets, such as CBS, that his holding company National Amusements controls. But, for now, peace is at hand even if the principles are already gearing up for the next battle.
See Eriq Gardner, Sumner Redstone Healthcare Fight Is Settled, The Hollywood Reporter, April 7, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
