The next chairman of CBS Corp. and Viacom — with a combined value of close to $60 billion — will be Shari Redstone, according to a new report by the New York Post.
The publication reports: “Shari Redstone is in line to succeed her father, Sumner Redstone, at CBS and Viacom, according to details that emerged Wednesday about the structure of the trust that will collect controlling stakes in the two media titans, The Post has confirmed.”
The 61-year-old “will become the irrevocable chairman of CBS, worth $30.7 billion, and Viacom, worth $27.4 billion, sources close to the situation said,” the paper reports.
Shari Redstone currently runs the digital investment company Advancit Capital. According to the Post’s sources, she and her son, Tyler Korff, will be a part of a seven-person board along with lawyers Norman Jacobs and Leonard Lewin, who are independent members of the trust and have previously represented both Shari Redstone and her mother.
The new details about the trust, included in a CBS filing with the FCC, were first reported by Vanity Fair. The health of 91-year-old Sumner Redstone, the current chairman of CBS and Viacom, has been the subject of speculation, with the Post reporting that his health has been fading.