Rifts in Family and Companies Hang over Redstone’s Legacy

By Tim Arango
New York Times

In mid-March, the media mogul Sumner M. Redstone was in Palm Beach, Fla., for a Wall Street firm’s annual media conference when he was asked about his legacy.

Sumner Redstone and his daughter Shari have had a falling out, but she remains vice chairwoman of Viacom and CBS. “I guess I’d like to be known as a loving and supportive father and grandfather,” Mr. Redstone said.

This was an uncharacteristically wistful note for Mr. Redstone, the chairman and controlling shareholder of Viacom and CBS, which together represent one of the world’s largest media empires.

Despite Mr. Redstone’s sentiments, his relationships with family and business associates remain complicated. Like many who have risen to preside over large business empires, Mr. Redstone, who turns 85 next month, has left a trail of tattered relationships — with family members, executives and, in his case, one very famous movie star.

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Source URL:
http://www.freepress.net/node/38175

Publisher URL:
http://www.nytimes.com/2008/04/07/business/media/07redstone.html?ref=media