Third-generation Redstones assume bigger role in National Amusements




Tyler Korff, 30, a lawyer and rabbi who is the grandson of Sumner Redstone, met privately over the summer with former Viacom CEO Philippe Dauman to begin negotiating Dauman's departure from the company,

the

Wall Street Journal

reported.

Korff “grew up knowing Mr. Dauman and worked alongside him as a fellow director of National Amusements Inc., the holding company through which the Redstone family controls Viacom and CBS,” the

Journal

article said. “The two men had always maintained a good relationship despite tensions between Mr. Dauman and Mr. Korff's mother, Shari Redstone.” Korff has been a director of National Amusements since 2013, the article said.

Other third-generation members of the Redstone family are also taking more prominent roles in the family empire, the article said. Korff's sister, Kimberlee Korff Ostheimer, 34, joined National Amusements' board over the summer; she was previously a Legal Aid Society attorney and now focuses on philanthropy. Brother Brandon Korff, 32, managing partner of real estate developer Panoply Properties, became a National Amusements director in late September, according to the

Journal

report.

The three siblings will eventually become the beneficiaries of a trust that Sumner Redstone set up to take over his 80% voting stakes of Viacom and CBS when he dies or is deemed incapacitated, the article noted.

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Keryn Redstone and Lauren Redstone Ellis — the children of Sumner Redstone's son, Brent Redstone — are also beneficiaries of the trust, though they don't have roles in National Amusements. Brent Redstone sued Sumner Redstone in the past. Keryn Redstone recently secured a legal settlement with Shari Redstone to ensure that trust disbursements would be equitable, the

Journal

report said. (Source:

Wall Street Journal

, Nov. 14, 2016.)

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