BUZZ-Viacom Inc: CEO Dauman may replace Sumner Redstone as chairman - CNBC

Thu Feb 4, 2016 11:02am EST
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** Media company's shares up 5.4 pct at $47 after CNBC reports that CEO Philippe Dauman is likely to become chairman, replacing Sumner Redstone

** Redstone, who is in poor health, resigned from his executive role at top of CBS Corp on Wednesday

** Redstone's daughter, Shari Redstone, did not want Dauman to succeed her father and insisted that both companies needed an "independent voice"

** Redstone controls about 80 pct of voting shares in Viacom and CBS through holding company

** CBS shares up 3.3 pct at $49.85

** Up to Wednesday's close, Viacom shares had risen 7 pct since Jan. 19, when activist investor Eric Jackson sought management shakeup at company