New York – A serious clash has developed between Viacom Inc. chairman Sumner Redstone and his daughter, Shari, that could further cloud the succession picture at the family-controlled media and entertainment empire, which includes CBS Inc. and Viacom’s MTV Networks and Paramount Pictures.
Lawyers for the 84-year-old mogul and his daughter are in negotiations that could lead to her leaving the Viacom and CBS boards and selling back her CBS and Viacom stock, although various other scenarios also are under discussion, sources familiar with the situation said Thursday.
One option being considered is for Shari Redstone to buy out her father’s stake in National Amusements Inc., the family- owned theater chain of which she is president, the sources said.
The negotiations, which have been underway for months, were disclosed on Fortune magazine’s website. Neither Redstone was available for comment.
Nancy Sterling, spokeswoman for Shari Redstone, said, “Shari remains an active and involved member of both the CBS and Viacom boards and has no intentions of resigning, nor has anyone asked her to resign.”
