CBS pushes out 92-year-old chairman, called 'a living ghost'
Sumner Redstone, the 92-year-old chairman of CBS, is being pushed out of his job after an extended legal battle that will culminate Friday in a doctor investigating him for mental competency.
Taking Redstone's job will be Les Moonves, who was nominated by Sumner's own daughter, Shari, who has been lobbying for her father's ouster from the firm he founded.
Redstone has been one of the most powerful people in the U.S. media world, growing his father's theater business into a content-producing powerhouse that would eventually include Viacom, CBS and Paramount Pictures.
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Although CBS and Viacom split in 2005, Redstone remained chairman of each company.
Redstone is still the executive chairman of Viacom, where CEO Philippe Daumann is likely to replace him.
CBS and features shows including "Big Brother" and has been facing intensifying competition from rivals including ABC, NBC and even cable channels.
Viacom is the company that owns MTV, Comedy Central and a variety of other cable channels as well as Paramount Pictures. Viacom's board is scheduled to meet on Wednesday, at which a new chairman could be named.
Redstone has been the subject of speculation that his deteriorating health has limited his ability to make decisions about his businesses.
Redstone's much-younger former companion, Manuela Herzer, used to be in charge of all decisions about his health. That responsibility was taken by Dauman. Herzer then filed legal objections that Redstone was not able to agree to any change because his deteriorating mental state made him a "living ghost."
The timing of the move drew immediate speculation, as Redstone is slated to undergo a medical evaluation as part of an ongoing lawsuit from his former partner Manuela Herzer over who makes medical decisions for him.
Just who would succeed Redstone and take control of the media empire that he built has been a source of media intrigue for years.
Shari Redstone, once estranged from her father, is now in line to take on a major role.
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Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
