Editing Sumner Redstone (section)

===Succession===
Redstone's trusts made it clear that his daughter, [[Shari Redstone]] (vice-chairwoman of the board of Viacom and CBS as well as president of National Amusements), was set to assume his role upon his death. However, a November 22, 2006, ''[[New York Times]]'' article indicated that Redstone was reconsidering his daughter's role. In 2007, they feuded publicly over issues of corporate governance and the future of the cinema chain.<ref>{{cite news| url=https://www.boston.com/business/globe/articles/2007/09/19/redstone_says_he_relies_on_his_instinct/ |newspaper=The Boston Globe |first=Jenn |last=Abelson |title=Redstone says he relies on his instinct |date=September 19, 2007}}</ref>

Documents were made public which verify that, as part of a settlement from Sumner Redstone's first divorce, all of his stock was in [[Trust Law|irrevocable trusts]] that was to be left for his grandchildren.<ref>{{cite news| url=https://www.latimes.com/entertainment/news/business/la-fi-shari1oct01,1,4236064.story?coll=la-headlines-business-enter |newspaper=Los Angeles Times |first=Claudia |last=Eller |title=Redstone family rift may not be healed |date=October 1, 2007}}</ref> On March 1, 2010, Redstone publicly confirmed that all of his stock would be left for his five grandchildren (Brandon Korff, Kimberlee Korff, Tyler Korff, Keryn Redstone, and Lauren Redstone).<ref>{{cite web|url=https://www.cnbc.com/id/15840232?video=1428207331&play=1 |title=Faber Exclusive: Sumner's Successor |publisher=CNBC |date=February 26, 2009 |access-date=February 10, 2012}}{{dead link|date=November 2024|bot=medic}}{{cbignore|bot=medic}}</ref>

Redstone made arrangements to step down as CEO of Viacom in 2006. After Mel Karmazin resigned in 2004, two heirs apparent were named: Co-President and Co-COO [[Les Moonves]] (who was number 2 to Karmazin at CBS; he was the former head of [[Warner Bros. Television]] and before that, [[Lorimar Television]]) and Co-President and Co-COO [[Tom Freston]] (who had been president and CEO of MTV Networks since 1987 and had been with the company since the formation of MTV Networks' precursor company, Warner-AMEX Satellite Entertainment). After the Viacom split was approved by the board on June 14, 2005, Moonves headed CBS Corporation, and Freston headed the second incarnation of Viacom.<ref>{{cite web |last1=Schneider |first1=Michael |last2=Steinberg |first2=Brian |title=CBS-Viacom: 20 Years Later, a Look Back at the High Hopes and Eventual Collapse of That First Merger |url=https://variety.com/2019/tv/news/cbs-viacom-merger-20-years-later-moonves-redstone-karmazin-freston-1203265965/ |website=Variety |access-date=August 12, 2020 |language=en |date=August 13, 2019}}</ref>

On September 5, 2006, Redstone removed Freston as president and CEO of Viacom and replaced him with director and former Viacom counsel [[Philippe Dauman]]. Redstone also brought back former CFO Tom Dooley. This was surprising to many, as Freston had been seen by many as Redstone's heir apparent, and Redstone had touted that Freston would run the company after he retired. Redstone publicly stated that he let Freston go because of Viacom's lack of aggressiveness in the digital/online arena, lack of contact with investors, and a lackluster upfront (coupled with falling viewership) at [[MTV Networks]].<ref>{{Cite web|url=https://www.viacomcbs.com/press.tin?ixPressRelease=80704186|title=Viacom Is Exploring The Division Of Its Business Into Separate Publicly-Traded Companies|date=March 16, 2005|archive-url=https://web.archive.org/web/20050405235046/http://www.viacom.com/press.tin?ixPressRelease=80704186|archive-date=April 5, 2005}}</ref><ref>{{cite news|last1=Arango|first1=Tim|title=Sumner's Fall: Freston's Firing Costs Him $113M|url=https://nypost.com/2006/09/07/sumners-fall-frestons-firing-costs-him-113m/|access-date=December 7, 2015|newspaper=[[New York Post]]|date=September 7, 2006}}</ref>

In February 2016, at age 92, after a court-ordered examination by a [[Geriatric psychiatry|geriatric psychiatrist]] whose findings were not publicly disclosed, Redstone relinquished the chairmanship of CBS to Moonves and the chairmanship of Viacom to Dauman.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2016-02-03/cbs-chairman-redstone-resigns-to-be-replaced-by-ceo-moonves |title=Redstone Resigns as CBS Chair, Igniting Viacom Speculation |first1=Lucas |last1=Shaw|first2=Christopher|last2=Palmieri |publisher=Bloomberg News |date=February 3, 2016 |access-date=October 20, 2023|archiveurl=https://web.archive.org/web/20160206021652/https://www.bloomberg.com/news/articles/2016-02-03/cbs-chairman-redstone-resigns-to-be-replaced-by-ceo-moonves|archivedate=February 6, 2016|url-status=dead}}</ref><ref>{{cite news |first=Emily |last=Steel |url=https://www.nytimes.com/2016/02/04/business/media/cbs-sumner-redstone-les-moonves.html |title=Sumner Redstone Steps Down as CBS Chairman, Replaced by Leslie Moonves |newspaper=The New York Times |date=February 3, 2016|archiveurl=https://web.archive.org/web/20160206024110/http://www.nytimes.com/2016/02/04/business/media/cbs-sumner-redstone-les-moonves.html|archivedate=February 6, 2016|url-status=live}}</ref><ref>{{cite news |url=https://www.bloomberg.com/news/articles/2016-02-04/viacom-s-board-names-dauman-chairman-replacing-aging-redstone |title=Viacom's Board Names Dauman Chairman, Replacing Aging Redstone |first1=Christopher |last1=Palmeri |first2=Lucas |last2=Shaw |date=February 4, 2016|archiveurl=https://web.archive.org/web/20160205150233/http://www.bloomberg.com/news/articles/2016-02-04/viacom-s-board-names-dauman-chairman-replacing-aging-redstone|archivedate=February 5, 2016|url-status=dead|accessdate=October 20, 2023}}</ref> In May 2016, Los Angeles Superior Court Judge David Cowan dismissed a lawsuit alleging that Redstone was mentally incompetent.<ref>{{Cite web|last=Richwine|first=Lisa|url=https://www.reuters.com/article/viacom-redstone-idUSL2N17H2HO|title=Media mogul Redstone won't testify in mental competency trial|publisher=Reuters|date=April 14, 2016|language=en|access-date=September 23, 2023|archiveurl=https://web.archive.org/web/20160420011442/https://www.reuters.com/article/viacom-redstone-idUSL2N17H2HO|archivedate=April 20, 2016|url-status=live}}</ref><ref>{{cite news|last1=Pettersson |first1=Edvard|last2=Palmieri|first2=Christopher |url=https://www.bloomberg.com/news/articles/2016-05-09/redstone-wins-fight-with-ex-as-judge-tosses-competency-suit |title=Redstone Triumphant, Ex-Lover Says Heirs Had 'Insidious Plan' |publisher=Bloomberg News |date=May 9, 2016|archiveurl=https://web.archive.org/web/20160621051319/https://www.bloomberg.com/news/articles/2016-05-09/redstone-wins-fight-with-ex-as-judge-tosses-competency-suit|archivedate=June 21, 2016|accessdate=October 18, 2023|url-status=dead}}</ref> The judge stated it was "not in dispute that Redstone suffers from either mild or moderate dementia."<ref>{{cite news |url=https://www.nytimes.com/2016/06/07/business/media/sumner-redstones-viacom.html |title=Questions Surround Sumner Redstone's New Team of Representatives |first=Emily |last=Steel |newspaper=The New York Times |date=June 7, 2016|accessdate=September 23, 2023|archiveurl=https://web.archive.org/web/20160609214419/https://www.nytimes.com/2016/06/07/business/media/sumner-redstones-viacom.html|archivedate=June 9, 2016|url-status=live}}</ref> In addition, his speech was severely impaired due to a bout with [[aspiration pneumonia]] in 2014.<ref>{{harvnb|Hagey|2018|p=2}} "...an episode of inhaling food into his lungs in 2014 that had left him dependent on a feeding tube and barely able to speak."</ref><ref>{{cite magazine|last=Cohan|first=William D.|title=Inside the Raging Legal Battle over Sumner Redstone's Final Days|url=https://www.vanityfair.com/news/2016/03/sumner-redstone-legal-battle-final-days|magazine=Vanity Fair|date=April 2016|accessdate=October 18, 2023|archiveurl=https://web.archive.org/web/20160412171337/https://www.vanityfair.com/news/2016/03/sumner-redstone-legal-battle-final-days|archivedate=April 12, 2016|url-status=dead|quote=In 2014, Redstone had been hospitalized on three separate occasions, twice for aspiration pneumonia...}}</ref> Two weeks later, another such lawsuit was filed in [[Massachusetts]].<ref>{{cite news |url=https://www.nytimes.com/2016/05/24/business/viacom-ceo-sumner-redstone-competency-lawsuit-philippe-dauman.html |title=Viacom Chief Challenges Sumner Redstone's Competency in Lawsuit |first=Emily |last=Steel |newspaper=The New York Times |date=May 23, 2016}}</ref>