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Viacom board weighs further cuts in Redstone's pay - WSJ

Published 10/05/2016, 01:30
Updated 10/05/2016, 01:40
© Reuters. Sumner Redstone executive chairman of CBS Corp. and Viacom at premiere of "The Guilt Trip" starring Streisand and Rogen in Los Angeles
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(Reuters) - Viacom Inc's (O:VIAB) board is considering whether to further cut the pay of its Chairman Emeritus Sumner Redstone, the Wall Street Journal reported, citing people familiar with the matter.

Viacom and CBS Corp (N:CBS) board members are also planning to visit Redstone, the chairman of the two companies, to investigate his competence for themselves, the newspaper reported.

Viacom Inc had cut the total pay of its 92-year-old chairman Redstone by 85 percent to $2 million (1.4 million pounds) last year.

A judge on Monday threw out a lawsuit brought by a former girlfriend challenging her removal as Redstone's healthcare agent.

Viacom Inc and CBS Corp were not immediately available for comment outside regular U.S. business hours.

© Reuters. Sumner Redstone executive chairman of CBS Corp. and Viacom at premiere of "The Guilt Trip" starring Streisand and Rogen in Los Angeles

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