Redstone to miss CBS annual meeting as health concerns loom

By The Associated Press | Posted - May 14, 2015 at 4:12 p.m.

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LOS ANGELES (AP) — Amid concerns about his health, media mogul Sumner Redstone said Thursday that he's not attending the annual meeting of CBS Corp. next week.

The 91-year-old also missed the meeting of Viacom Inc. in Florida in March for the first time.

Redstone is executive chairman and controls 80 percent of the voting shares in both companies.

He said in a statement that he had planned on attending the CBS meeting, but won't be able to travel to New York this year from his home in Los Angeles.

"I hope to attend next year's meeting," he said.

Redstone's spokeswomen did not immediately respond to requests to elaborate.

After media reports on his succession plans and ill health, Redstone last week issued a statement saying that after his death, his ownership interests in CBS and Viacom will be handled by a seven-member trust.

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