Shari Redstone’s plan to recombine CBS and Viacom has a likely chance of coming to fruition.
Brad Grey, the chairman and chief executive officer of Viacom Inc’s Paramount Pictures film studio is expected to leave with an announcement coming as early as next week, according to two sources familiar with the situation.
Sumner Redstone was the mogul who never wanted to retire. For years he held on to his media empire with the same tenacity he used in clinging to the windowsill of a burning hotel in 1979.
CBS Corp said on Wednesday media mogul Sumner Redstone had resigned as executive chairman, a move that comes amid heightened questions about the 92-year-old billionaire’s physical and mental health.