Sumner Redstone was the first major media mogul to get slammed by the economic downturn, and the Viacom chief's troubles continue. His pending divorce and the comical failure of his video game business are mere distractions. His bigger problem is that his company has $1.6 billion in debt to deal with, and Redstone is squabbling with his daughter about how to do it. For some, it's already too late; we hear that layoffs are coming down at Viacom tomorrow. But for the Redstones, there seem to be only three real options:
- Sell a stake in National Amusements, the holding company through which Redstone controls Viacom and CBS.
- Sell a stake in the movie chain business that daughter Shari Redstone runs. Or,
- Sell off CBS or Viacom.