Sumner Redstonethinks he'll live forever. Last fall on CNBC's "Conversations with Michael Eisner" when Eisner asked what his succession plan was, he said he'd live forever. If Thursday's news is any indication he was serious! It's been widely reported--first in Fortuneand then also immediately in The Wall Street Journal,that Sumner and Shari Redstone had a huge falling out and that Shari would be stepping down fromViacom's board--presumably trading her stake in Viacom and CBS for full ownership of National Amusements, the theater chain which she currently runs and also has a stake in.
But Shari Redstone's representatives are denying this, telling CNBC "Shari Redstone remains a committed member of both the CBS and Viacom boards. She has no plans to resign and looks forward to continuing her work with both companies." What we do have confirmation of is the fact that the father-daughter relationship has totally deteriorated. But it sounds like Shari has no intention of leaving, but that she's getting pushed out.