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Redstone to Divorce (Again)

Couple of 5 years splits 'amicably' as Viacom, CBS chief tackles $1.6B debt

By Ambreen Ali, Newser User

Posted Oct 22, 2008 2:41 PM CDT

(Newser) – Media magnate Sumner Redstone is calling it quits with his wife of 5 years, the Los Angeles Times reports, even as the Viacom and CBS chairman tries to maneuver his family company through a debt crisis. Though the 85-year-old cited irreconcilable differences in ending his marriage to Paula Fortunato, the pair said in statement that they did so “amicably.”

The couple says they have already divided up their assets; Fortunato stands to gain $5 million under a prenuptial agreement. Redstone, meanwhile, recently sold $233 million in shares of Viacom and CBS in order to pay off some of the $1.6 billion in debt facing his family’s National Amusements Inc.

Viacom chairman and CEO Sumner Redstone and his wife Paula Fortunato celebrate the 60th anniversary of Israel at Paramount Studios in Los Angeles last month. (AP Photo)

Sumner Redstone and Paula Fortunato remain close friends, they said in a statement today. (AP Photo)

Redstone's holding company is engulfed in a $1.6 billion debt that forced him to sell substantial stock. (AP Photo)

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Redstone to Divorce (Again)

Couple of 5 years splits 'amicably' as Viacom, CBS chief tackles $1.6B debt

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Redstone to Divorce (Again)

Couple of 5 years splits 'amicably' as Viacom, CBS chief tackles $1.6B debt

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OTHER STORIES ON OUR RADAR

Viacom • CBS • Sumner Redstone • celebrity divorces

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Did Katy Perry Just Diss Russell Brand at Grammys?

"Part of Me" includes suspicious "diamond ring" lyric

Courteney: I Haven't Had Sex Since Split

Cox dishes up some TMI to Howard Stern

How Heidi, Seal Told Their Kids

'It has ... nothing to do with them,' singer says of divorce

Seal on Heidi: Never Say Never

Singer says relationship had problems, but couple still close

Seal: Why I Still Wear My Wedding Ring

He's still connected to Heidi Klum, he explains on 'Ellen'

About Us

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Newser By Users

Community

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More News

What is Newser?