The granddaughter of Viacom controlling shareholder Sumner Redstone has agreed to let a Massachusetts court dismiss claims brought by former company leaders, a step that will help end a battle over the fate of the media empire.
Lawyers for Keryn Redstone said at a Massachusetts court hearing on Friday they have also agreed to mediate remaining parts of her family dispute and that she will have an in-person meeting with her 93-year-old grandfather.
These actions support a broader settlement between Viacom and ex-CEO Philippe Dauman.
On Saturday, Viacom announced a settlement with controlling shareholder Sumner Redstone, by which its Viacom CEO Dauman had been replaced by his longtime right-hand man, Chief Operating Officer Thomas Dooley. Dooley will be interim CEO until Sept. 30, the end of Viacom's fiscal year.
Under the settlement, Dauman will stay on as non-executive chairman through Sept. 13 and be allowed to present to the Viacom board his plan to sell a 49-percent stake in Paramount Pictures.
The settlement marked the end of a legal battle between Dauman and Viacom board member George Abrams over their removal by Sumner Redstone from the Sumner M. Redstone National Amusements Inc Trust in May.
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