Despite the settlement announced Saturday between Viacom and the Redstone family holding company, one of Sumner Redstone’s grandchildren is continuing the battle.
Keryn Redstone on Monday filed papers in court in Massachusetts seeking unredacted copies of the Redstone trust agreement and the settlement.
In a statement from her lawyer, Keryn Redstone says she continues to prepare for trial, where she will make her case that her 93-year-old grandfather is “tragically incapacitated” and “unduly influenced” by her aunt Shari Redstone in modifying the succession plans for his $42 billion media empire.
“Inquiring minds want to—indeed, must—know why Plaintiffs have joined hands with Shari and are now abdicating to her. With everyone but Keryn acquiescing in this abrupt termination of those issues, the Court needs to hear an independent voice to assist it in deciding whether to bless this settlement as being in the best interests of Sumner and the Trust beneficiaries,” she said in her filing.
Under the settlement, Sumner and Shari Redstone are adding five new members to the Viacom board, CEO Philippe Dauman is leaving the company and also being removed from the board of National Amusements, the Redstone family holding company and as a trustee of the trust that will control Redstone’s assets after he dies or becomes incapacitated.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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