Sumner Redstone Issues Statement Related to Viacom, CBS

Sumner M. Redstone, Chairman and CEO of National Amusements, Inc., and Executive Chairman of the Boards of Viacom Inc. and CBS Corporation, today issued the following statement: "As I have always said, I believe strongly in professional management and appropriate corporate governance. Decisions about who will succeed me as chairman of CBS and Viacom will be made by the Boards of the respective companies, and not by any individual. Despite press reports to the contrary, such decisions have not yet been made. After my death, my ownership interest in the companies will be overseen by a group of seven trustees who will make fiduciary decisions based solely on the best interests of the beneficiaries of the trust. Until that time, I will continue to make all such decisions."