Sumner vs. Shari: Redstone Family Feud Continues Over Share Sell-Off

New York Times:

Shari Redstone and her father, Sumner M. Redstone, appear to be battling in public again -- this time over the reason for a large sell-off of shares by the family company, National Amusements.

On Monday, National Amusements, the privately held company that is run by Ms. Redstone, was forced to sell $233 million worth of stock in Viacom and CBS. On Tuesday, the company issued a statement saying that the sale of shares was prompted by market conditions and not by the operation and expansion of the company's theater business.

An article in The Wall Street Journal on Monday said that National Amusements had sold the shares to back a $1.6 billion loan that was used in part to help expand its movie theater chain. While the statement was not attributed to Mr. Redstone, Ms. Redstone apparently felt it was necessary to issue a statement saying that was not the case. Ms. Redstone declined to comment.

Read the whole story: New York Times

Comments

[AnalyzeIT]

We work hard to make people as such, wealthy. My take as of late is let them fall to where we are.

We're getting by and so could they...........

OBAMA-BIDEN

[leftbehind2000]

another battle of the uglies.

[dadw5boys]

The greedy old man will destory the company before stepping down.

[darkmavis6]

Who cares?

[KarateKid]

That's what he gets for spoiling his kid and giving her a toy to play with.....thousands of peoples' lives.

[UncleJimbo]

Soon he will be gone and she will have it all!

[Bitsko]

Wow. Now here's a story I really care nothing about.

[SantaFeStars]

Let them eat cake!!!!!!!!!!!!!!!

[johnnygoodwud]

dude what happened to your bow tie ?

[CatfishAndGrits]

Who cares????

Filthy rich white people arguing with other filthy rich white people about who should be more filthy rich. As an african american (who caused the current financial crisis, according FOXNews) I wish I could have that type argument.


ZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzz........

[Lvm]

Gosh, what a sad story. Father and daughter fighting over their billions. I don't know how I'll be able sleep tonight.

[JScott]

A reality show in the making here, too bad it's demographic won't let it show on any of it's media properties (MTV and VHI) oh but maybe on CBS---something like 'Survivor---The Redstones'.

[mommadona]

WHO CARES.

Really.

Truthfully.

[ratcityreprobate]

The rich are starting to eat each other. Oh well, who cares?

[littlepuffycloud]

LMAO

[johnnygoodwud]

how old is this woman? her hair and the way she dresses reminds me of my great aunt when she was 92

[NationalTreasure]

Sumner is about 100 so his daughter is probably close to 80.