Business

Sumner Redstone names new confidantes to media empire

Posted May 24, 2016 7:00 am

The Associated Press

LOS ANGELES (AP) - Media mogul Sumner Redstone has appointed new confidantes to entities that control Viacom Inc. and CBS Corp., replacing Viacom CEO Philippe Dauman and lawyer George Abrams, whom he stripped of the roles last week.

One of the replacements is Kimberlee Ostheimer, a lawyer and Redstone's oldest granddaughter, who will take a board seat at theater chain National Amusements Inc. That's the entity that owns 80 percent of the voting stock at media giants Viacom and CBS.

Former stock analyst Jill Krutick was also given a board seat at National Amusements and became a trustee in the trust that will receive its assets when 92-year-old Redstone dies. National Amusements general counsel Ted Jankowski was also named a trustee. The trust benefits Redstone's grandchildren.

It's the latest move in a fight over Redstone's fortune.

Article Comments

Article Categories
Business Content Providers Nation and World News

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.