Media tycoon Sumner Redstone, 92, steps down at CBS

Sumner Redstone, the 92-year-old US tycoon, is stepping down as executive chairman of television and media giant CBS, the company said Wednesday. Ending the long-running uncertainty over his succession plan, CBS said Leslie Moonves was elected chairman and will keep the titles of president and chief executive. Redstone's resignation was effective on Tuesday, CBS said in a statement, and he will hold the title of chairman emeritus.

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