Redstone Buys Son's Share In Company

  • February 6, 2007
Viacom chairman Sumner Redstone settled a lawsuit with his son. Brent Redstone claimed his father tried to "freeze out" his son from National Amusements, the company that owns the controlling stake in Viacom. Terms were not revealed, but insiders claim Redstone repurchased the one-sixth stake held by his son. Now the father owns 80% of the company, and his daughter Shari owns 20%.

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