Viacom board weighs further cuts in Redstone's pay - WSJ

Reuters

9 May 2016 at 8:31 pm

(Reuters) - Viacom Inc's board is considering whether to further cut the pay of its Chairman Emeritus Sumner Redstone, the Wall Street Journal reported, citing people familiar with the matter. Viacom and CBS Corp board members are also planning to visit Redstone, the chairman of the two companies, to investigate his competence for themselves, the newspaper reported. Viacom Inc had cut the total pay of its 92-year-old chairman Redstone by 85 percent to $2 million last year. A judge on Monday threw out a lawsuit brought by a former girlfriend challenging her removal as Redstone's healthcare agent. Viacom Inc and CBS Corp were not immediately available for comment outside regular U.S. business hours. (Reporting by Parikshit Mishra in Bengaluru; Editing by Cynthia Osterman)

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