Sumner Redstone Prevails in Viacom Dispute

redstone

After months of litigation in three states, Hueston Hennigan client Sumner Redstone has resolved a dispute with Viacom Inc., of which he is the controlling shareholder. The settlement terms include the immediate resignation of Viacom CEO and President Philippe Dauman and an expansion of the Viacom Board to include five new directors nominated by Mr. Redstone. Viacom has also agreed to bylaw and charter amendments that will prevent Viacom from selling a stake in Paramount Pictures, which Mr. Redstone acquired for Viacom in 1993, without his consent.

The settlement has been widely hailed as a victory for Sumner Redstone and his family-owned National Amusements, Inc. [See L.A. Times, N.Y. Times, Bloomberg, Hollywood Reporter.]

Mr. Redstone was represented in the litigations and settlement negotiations by a Hueston Hennigan team that included lead counsel Rob Klieger, Marshall Camp, Doug Dixon, Andrew Walsh, Mike Stephan, Mitch Hendy, Matt Kaiser and John Scheerer.