Sumner Redstone's No-Good, Very Bad Few Weeks
Oct. 27 2008, Published 7:07 a.m. ET
(Photo: Getty Images) Is Viacom and CBS chairman Sumner Redstone going to be forced to sell either of his prized companies to help dig his way out of a nasty credit crunch?
Just last week, the crotchety 85-year-old was forced to dump $233 million worth of shares in Viacom and CBS to raise cash to comply with debt covenants—a move which significantly reduced Redstone's controlling stakes in both companies. Now, experts are wondering if he'll have to sell either CBS or Viacom outright.
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