Viacom, CBS head has no plans to retire

San Francisco

AT 92, Sumner Redstone is making no moves towards retiring. And that is a worry for the two media giants that he controls, Viacom and CBS.

Mr Redstone is chairman of the board of both companies, and he and his family own a majority of the shares in the entertainment conglomerate Viacom and CBS, the television giant split off in 2006.

But even as the two companies face challenges from the shift to the digital age, Mr Redstone has not set up a succession plan.

Mr Redstone has been intentionally vague about what happens when he ends his tenure. Observers have said that the likely candidates could include his daughter Shari or Viacom chief executive Philippe Dauman.

"I will not discuss succession," he told The Hollywood Reporter in 2014. "You know why? I'm not gonna die. So why should I …