Sumner Redstone’s successor as chairman of CBS Corp. is set to be the broadcaster’s current chief executive Leslie Moonves, Bloomberg reports.
According to the outlet, the agreement was made with Redstone’s daughter Shari, and lessens the potential for discord over succession at CBS.
Redstone, who is 92, currently serves as chairman of both CBS and Viacom Inc. and controls the majority of the voting shares of both companies through a family holding company, National Amusements Inc, of which Shari Redstone serves as president.
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