The billionaire who founded a media empire that included CBS, Viacom, and Paramount Pictures has passed away at the age of 97 in his house in Los Angeles.
Media mogul Sumner Redstone has died at the age of 97.
Redstone, who built a multi-billion dollar media empire that included Viacom, Paramount Pictures, and CBS, passed away at his home in Los Angeles on Tuesday (11Aug20).
Confirming the news to Deadline on Wednesday, a representative from his National Amusements firm said, “It is with great sadness that we announce the passing of Sumner M. Redstone, the self-made businessman, philanthropist and World War II veteran who built one of the largest collections of media assets in the world. He passed away yesterday at the age of 97.”
“Over the course of his distinguished life and career, Sumner played a critical role in shaping the landscape of the modern media and entertainment industry.”
ViacomCBS CEO Robert M. Bakish added, “Sumner Redstone was a brilliant visionary, operator and dealmaker, who single-handedly transformed a family-owned drive-in theatre company into a global media portfolio.”
“He was a force of nature and fierce competitor, who leaves behind a profound legacy in both business and philanthropy. ViacomCBS will remember Sumner for his unparalleled passion to win, his endless intellectual curiosity, and his complete dedication to the company. We extend our deepest sympathies to the Redstone family today.”
Redstone served as executive chairman of both CBS and Viacom until February 2016, when he resigned from both chairmanships following a court-ordered examination by a geriatric psychiatrist. He was succeeded by Les Moonves at CBS and Philippe Dauman at Viacom.
The twice-divorced billionaire is survived by his two children, Brent and Shari.