Shari Redstone Sumner Redstone death pandemic reports Shari Redstone Sumner Redstone

ViacomCBS Shares Spike as Investors Watch Shari Redstone’s Next Moves

Reading now: 548
variety.com

Cynthia Littleton Business EditorViacomCBS shares were up more than 5% in trading Friday, reflecting renewed investor interest in the company following the death earlier this week of chairman emeritus Sumner Redstone.The movement for ViacomCBS shares comes on a down day overall so far for the NASDAQ index.

News of the Redstone’s death on Aug. 11 at the age of 97 has sparked speculation that his successor, ViacomCBS chairman Shari Redstone, may now be more inclined to sell the media conglomerate that her father built starting in the late 1980s.For the year to date, ViacomCBS shares are down 33%, in keeping with massive declines for most media stocks amid pandemic-driven business disruptions.

Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA