The Los Angeles Post

Known for his “content is king” mindset, Sumner Redstone dead at 97

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Sumner Redstone, the no-nonsense billionaire media magnate and controlling shareholder of ViacomCBS who turned his family’s humble theater company into a leading communications conglomerate, died Tuesday at age 97.

Known for his “content is king” mindset, Redstone was the majority owner, chairman and CEO of National Amusements, the parent company of ViacomCBS, which Paramount Pictures, MTV and Nickelodeon all call home.

“Sumner Redstone was a brilliant visionary, operator and dealmaker, who single-handedly transformed a family-owned drive-in theater company into a global media portfolio,” ViacomCBS president, Bob Bakish, said in a statement Wednesday.

“He was a force of nature and fierce competitor, who leaves behind a profound legacy in both business and philanthropy,” the statement continued. “ViacomCBS will remember Sumner for his unparalleled passion to win, his endless intellectual curiosity, and his complete dedication to his company.”

Redstone’s work with National Amusements began in 1954 and saw him lead the charge as the company exploded from a chain with a handful of theaters to a multi-industry media kingdom.

“Sumner was a man of unrivaled passion and perseverance, who devoted his life to his belief in the power of content,” National Amusements said in a statement Wednesday. “With his passing, the media industry he loved so dearly loses one of its great champions. Sumner, a loving father, grandfather and great-grandfather, will be greatly missed by his family who take comfort knowing that his legacy will live on for generations to come.”

His daughter and ViacomCBS chair Shari Redstone said: “My father led an extraordinary life that not only shaped entertainment as we know it today but created an incredible family legacy. Through it all, we shared a great love for one another and he was a wonderful father, grandfather and great-grandfather. I am so proud to be his daughter and I will miss him always.”

National Amusements, through which the Redstones control ViacomCBS, said that he died Tuesday. It is understood that he was at his 15,300-square-foot Beverly Park mansion. A cause of death was not provided, but sources said it was not related to COVID-19.

Redstone had been in declining health for some time amid questions whether he was mentally capable of running his businesses.

A cause of death has not been revealed for Redstone, who was born in Boston and graduated from Harvard University. His net worth was estimated by Forbes to be $3 billion.