Court papers have confirmed recent speculation that Sumner Redstone, head of family-owned holding company National Amusements, has filed for divorce from his wife.
The 85-year-old chairman of Viacom and CBS Corp has been married to Paula Fortunato Redstone, 46, for five and a half years. The couple, who have no children, filed for divorce in California last week.
Citing “irreconcilable differences,” the couple nevertheless said the marriage had ended “amicably” and they have agreed to settle out of court.
“While this is a difficult decision for both of us, we remain close and supportive friends and are committed to each other's continued happiness and success,” the couple said in a statement.
The Los Angeles Times claims Paula will receive $5 million under a prenuptial agreement. It is the second time in just six years that Redstone has divorced following the dissolution of his marriage to Phyllis in 2002.
National Amusements is a third-generation, privately-owned business that controls some 1500 cinema screen globally. It is owned by Sumner, son of founder Michael Redstone, and his daughter Shari. It also holds controlling interests in media companies Viacom and CBS Corp.
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