Sumner Redstone Steps Down As Executive Chairman Of CBS Corp; Les Moonves Gets Another Title

Nonagenarian media mogul Sumner Redstone has given up his executive chairman position at CBS Corp., the company said late Wednesday afternoon. CBS Corp. president and CEO Leslie Moonves has been elected the next chair of the CBS Board of Directors, and Redstone is now chairman emeritus. Redstone still technically holds 80 percent of the controlling shares for National Amusements Inc., which in turn holds 80 percent of the shares for media companies Viacom, of which Philippe Dauman is CEO,...

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