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Discovery Communications, Inc.

Battle for Viacom control flares up; Paramount sale could falter

Battle for Viacom control flares up; Paramount sale could falter

Battle for control of Viacom flared up with the Sumner Redstone family working to line up prospective new board members, and Viacom executives countering that the clan’s recent actions – including efforts to scuttle a sale of nearly half of Paramount Pictures – could harm other investors.

The Redstone family investment vehicle, National Amusements, holds nearly 80% of the voting stock in Viacom and CBS Corp., giving the Redstone family extraordinary sway over the affairs of the two companies. 

Sumner Redstone’s daughter, Shari Redstone, is not a fan of Viacom’s management, particularly Viacom Chief Executive Philippe Dauman, and she has...

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