Sumner Redstone to miss CBS shareholders meeting due to declining health
CBS Chairman
CBS Chairman Sumner Redstone will not attend the company’s annual shareholders meeting next week in New York because of his declining health.
The billionaire, who controls both CBS and Viacom, lives in Beverly Hills. He turns 92 later this month and has struggled with mobility issues in recent years.
CBS’ investors meeting is scheduled for May 21.
“I had been planning on attending CBS’s 2015 Annual Meeting, but unfortunately will not be able to travel to New York for the event this year,†Redstone said in a statement released Thursday. “I hope to attend next year’s meeting.â€
Redstone also missed the Viacom shareholders meeting earlier this year in Palm Beach.
CBS shares closed down 8 cents to $59.64 on Thursday. CBS shares are up nearly 8% this year.
Twitter: @MegJamesLAT
From the Oscars to the Emmys.
Get the Envelope newsletter for exclusive awards season coverage, behind-the-scenes stories from the Envelope podcast and columnist Glenn Whipp’s must-read analysis.
You may occasionally receive promotional content from the Los Angeles Times.
