As if a tough earnings report for Viacom Inc. and the looming debt issues of National Amusements Inc. weren't enough of a headache for Sumner Redstone this week, he's also dealing with the latest legal fight with his fractious family.
Wedneday marks the third and final day of testimony in a lawsuit by the Viacom and CBS Corp. chairman's nephew Michael Redstone against his father, Edward, and uncle Sumner. The suit says Michael is owed at least several million dollars based on a trust with shares in the Redstone family-owned theater chain National Amusements left to him by Sumner's father, Mickey.
Michael and the shares' trustees originally filed their case in 2006, alleging that he was not compensated fairly for selling his stake in National Amusements, which also serves as Sumner Redstone's holding company for his controlling interests in Viacom and CBS Corp., back to the company in 1984 for $15 million.
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