Friday, June 17, 2016

As the Sumner Turns

Another day, another dramatic story in the life of 90-something Sumner Redstone...

After taking weeks to line up all his pieces in his battle with Viacom CEO Philippe Dauman, Sumner Redstone has finally made his big move to regain control of his company. Today, his National Amusements, Inc., which controls Viacom and CBS Corp., announced that it had removed five members of Viacom's board of directors—including Dauman—and had elected five new independent directors. The massive board overhaul also sets the stage for Dauman's eventual dismissal as Viacom CEO.

You can believe that Sumner is making this power play himself as he sits in a near vegetative state in a wheelchair, or you can believe someone else is doing it, but there's never a dull moment in this on-going story.