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One Year After Exec Shakeup, Viacom Sees Stability But Faces Stock Struggles

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Photo via skeeze on Pixabay under the Creative Commons License

Variety reports: “It has been one year since Shari Redstone, daughter of Sumner Redstone, prevailed in an epic battle for control of her father’s business empire. As the mogul — now 94 — fell into frail health, Shari Redstone fought it out in court with his former mistresses and confidants. Philippe Dauman bowed to the inevitable on Aug. 20, 2016, and resigned as CEO of Viacom. The entertainment industry was glad to see him go. Viacom’s stock price had been cut in half over the previous two years, plunging from $88 to $43 by the time Dauman threw in the towel. With Shari Redstone firmly in charge, the company was desperate for a turnaround.”

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