Media tycoon Redstone dies aged 97
Hannah Uttley TRAILBLAZING media tycoon Sumner Redstone has died at the age of 97.
The US mogul was responsible for transforming his father’s drive-in chain National Amusements into a sprawling empire that now encompasses Viacom, Paramount Pictures, CBS and MTV.
Mr Redstone, who often insisted he would live forever, died on Tuesday afternoon at his home in Los Angeles. He had a net worth of $1.7bn (£1.3bn) according to the Bloomberg Billionaires Index, and was credited with helping to save the cinema industry after developing the multiplex chain model in the Sixties.
The 6ft billionaire – who once famously fired Tom Cruise after the star’s bizarre performance in an Oprah Winfrey interview – was known for his ruthless approach and became embroiled in several high-profile legal battles with top film executives and even some of his own family.
In May 2015, Mr Redstone said that upon his death his ownership in the company would pass to a family trust, whose trustees include his daughter Shari Redstone – who has played an increasing role in the business – and her son, Tyler Korff.