Redstone to miss CBS annual meeting as health concerns loom
LOS ANGELES (AP) — Media mogul Sumner Redstone says he's not attending the annual meeting of CBS Corp. next week amid concerns about his health.
The 91-year-old also missed the meeting of Viacom Inc. in Florida in March.
Redstone is executive chairman and controls 80 percent of the voting shares in both companies.
He said in a statement Thursday that he had planned on attending the CBS meeting, but won't be able to travel to New York this year from his home in Los Angeles. He says he hopes to attend next year's meeting.
After media reports on his succession plans and ill health, Redstone last week issued a statement saying that after his death, his ownership interests in CBS and Viacom will be handled by a seven-member trust.