The media executive passed away this week at the age of 97 in his home in Los Angeles.
National Amusements, the private holding that controles the Redstone family’s properties, announced the passing of its founder, Sumner Redstone.
The media executive passed away this week at the age of 97 in his home in Los Angeles.
Throughout his career, Redstone built a true media empire, with properties such as Viacom, CBS or Paramount Pictures.
«It is with great sadness that we announce the passing of Sumner M. Redstone, the self-made businessman, philanthropist and World War II veteran who built one of the largest collections of media assets in the world. He passed away yesterday at the age of 97», the announcement says.
«Over the course of his distinguished life and career, Sumner played a critical role in shaping the landscape of the modern media and entertainment industry. At National Amusements, he transformed a regional theater chain into a world leader in the motion picture exhibition industry. Sumner was also a keen investor who took stakes in a variety of companies, including Viacom Inc. and CBS Corporation – today merged as ViacomCBS – which he built into prominent, international and industry-leading conglomerates in the media industry», agregaron.
Bob Bakish, CEO of ViacomCBS, said: «Sumner Redstone was a brilliant visionary, operator and dealmaker, who single-handedly transformed a family-owned drive-in theater company into a global media portfolio. He was a force of nature and fierce competitor, who leaves behind a profound legacy in both business and philanthropy».
«ViacomCBS will remember Sumner for his unparalleled passion to win, his endless intellectual curiosity, and his complete dedication to the company. We extend our deepest sympathies to the Redstone family today.»
