FIRST AIRED: May 23, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Business

Redstone's media empire fight intensifies

Opening sequence

Opening sequence

Business

Redstone's media empire fight intensifies

0:00
18:09
More Info

COMING UP:Redstone's media empire fight intensifies

×

Transcript

00:00:02
>> The battle over the future of one of the world's largest media empires, getting ugly. Viacom CEO Philippe Dauman filing a lawsuit, Monday, to stop Sumner Redstone from forcibly removing him and another board member from the media mogul's trust, claiming he is being manipulated by his daughter, Shari Redstone.
00:00:21
The seven-person trust will determine the fate of both Viacom and CBS in the event of Redstone's incapacitation or death. In a statement, Dauman saying, quote, Shari Redstone is attempting to illegally hijack her father's well-established estate plan. Reuters correspondent Jessica Toonkel.>> This lawsuit is the latest in the rivalry between Shari Redstone and Philippe Dauman all weekend.
00:00:45
Since Sumner Redstone removed Philippe and George Abrams from the trust and the board of National Amusements, there have been statements back and forth from the two sides about what they wanna get forward on the messaging. On February, Shari Redstone was the lone dissenter on opposing Philippe Dauman becoming executive chair, replacing Sumner Redstone, and so, this is kind of the next step here.
00:01:11
>> Viacom executives also questioning 92-year old Redstone's competency in making the drastic moves, claiming Shari Redstone, considered Dauman's nemesis, is pulling the strings.>> So, last month the judge dismissed this mental competency lawsuit brought on by the former girlfriend. As part of that suit, Philippe Dauman had issued statements saying that he'd had conversations with Sumner Redstone, and Sumner was engaged and attentive.
00:01:36
So now, he's saying that he's suffering from dementia and he's suffering from undue influence of his daughter, so I think that might be a challenge in this court case.>> In a statement, Monday, a spokeswoman for Shari Redstone said it is, quote, absurd for anyone to accuse Shari of manipulating her father.
00:01:53
Redstone turns 93 this week and hasn't been seen in public since 2014.