NY Post

Viacom to Stop Paying Sumner Redstone His Huge Salary

May 19, 2016  •  Post A Comment

The Board of Directors at Viacom has voted to stop paying founder and Chairman Emeritus Sumner Redstone his $2 million annual salary, The New York Post reports.

“Redstone, who turns 93 on May 27, was recently the center of a bitter courtroom battle over his mental capacity,” the report notes. “During a videotaped deposition, Redstone had trouble, at times, remembering certain basic facts — like his given name.”

Redstone, who controls both Viacom and CBS Corp. — a media empire valued at $40 billion — recently stepped down as chairman.

“The board, which likely weighed the possibility of potential lawsuits in the wake of the testimony, voted to end the payments to Redstone — who earned more than $51 million the past three years, including a $2 million salary in 2015,” the Post notes. “The Los Angeles trial over his mental acuity ended after he strongly demanded that his daughter, Shari Redstone, be his health-care proxy.”

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