With the messy ‘Succession’-like storyline laid to rest with her father, Shari Redstone still has to prove she can keep the family’s $3 billion fortune intact.
“Viacom’s too small. It needs to be sold or combined with a larger company,” says Needham & Co. senior analyst Laura Martin, in response to speculation about the company’s future. analyst Steven Cahall wrote a note Tuesday that speculation about a deal is likely to boost the share price, which is down 38% this year.
For now, those who know Redstone say she’s singularly focused on realizing the value of the combined companies and furthering Sumner’s ambitions: “My father led an extraordinary life that not only shaped entertainment as we know it today, but created an incredible family legacy,” Shari Redstone said in a statement. “I am so proud to be his daughter and I will miss him always.”
I’m a Los Angeles-based senior editor for Forbes, writing about the companies and people behind the biggest disruption in entertainment since cable TV: streaming video. I…I’m a Los Angeles-based senior editor for Forbes, writing about the companies and people behind the biggest disruption in entertainment since cable TV: streaming video. I write about the tech juggernauts, the legacy media companies and the startups pioneering new ways to reach the consumer.
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