Redstones Hope Daughter Knows Best on Theaters
Matthew Karnitschnig
Updated Dec. 4, 2006 12:01 am ET
DEDHAM, Mass. -- In the 1970s, Sumner Redstone concluded that the future of his family's movie-theater chain was dim. So he began investing in media stocks, eventually creating an empire that today spans MTV, CBS and Paramount.
The Redstone family still owns the theater chain, but now daughter Shari Redstone oversees it. Mr. Redstone, 83 years old and chairman of both Viacom Inc. and CBS Corp., believes his daughter should consider selling out, but he is leaving that decision up to Shari.