Vicious struggles over family fortunes
The annals of US business are studded with messy succession battles and late-in-life romantic entanglements like the Redstone affair.
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CONSIDER the plight of Shari Redstone, the daughter of billionaire media mogul Sumner Redstone.
Much of her family's fortune is tied to her ailing 92-year-old father. He owns 80 per cent and she owns 20 per cent of National Amusements, the private business that controls two giant media companies: Viacom and CBS. Upon Mr Redstone's death, his interest will pass to a trust with his grandchildren as beneficiaries.
But Mr Redstone hardly set the stage for an orderly transition. He stubbornly held on so long as executive chairman of both CBS and Viacom that shareholders began to question his ability to run the company - especially after a former companion, Manuela Herzer, filed a lawsuit last November questioning his mental competence.
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