Friday, April 08, 2016

As the Sumner Turns

Looks like the very strange and sordid Sumner Redstone case is coming to an end. The parties involved have agreed to a settlement. From this morning's Hollywood Reporter...

The full terms are still being held tightly, but the deal includes a payout to Herzer, allows Viacom to remain in the hands of chief executive Philippe Dauman and will eventually designate Redstone's care to his daughter Shari, who is set to take on a larger role at Redstone's companies after her father passes. For now, Redstone will still be in charge of his own healthcare. Attorneys for the sides haven't yet commented on the settlement, but a source close to the talks adds that the payout to Herzer will be substantial, but less than $70 million and remove her permanently from Redstone's life. Shari is said to be instrumental in engineering the deal, which will be taken to a judge soon for approval.

To translate for you...the gold-digger gets a boatload of cash, the creepy CEO gives up "medical supervision" in exchange for getting to stay on after Redstone's death, and the daughter agrees to step in to help the father she doesn't even like, in exchange for getting more control of his companies after he dies.

It's really a touching, beautiful story.