Media mogul Sumner Redstone, the billionaire whose television empire included CBS and Viacom, died at 97.
Redstone, who died on Tuesday, controlled more than 75% of the voting stock of the two media companies through his own private holding group, National Amusements, and he left a staggering fortune of about $3 billion, according to CNBC.
“My father led an extraordinary life that not only shaped entertainment as we know it today, but created an incredible family legacy,” Shari Redstone told Variety in a statement. “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.”
During the final years of his life, former girlfriends of Redstone came forward with sordid allegations, which led to legal battles over the control of his company and questions about his mental acuity. Shari Redstone emerged from those battles with control of the company and was responsible for the CBS and Viacom merger after her father previously decided to split the companies up.
“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. “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.”
