Los Angeles Times | Claudia Eller | July 30, 2007 07:09 AM
Thirteen years ago, when Sumner Redstone was busy building Viacom Inc. into a media powerhouse and needed a helping hand to run the family's theater chain, he turned to his daughter, Shari Redstone, who was home raising her three children.
When theater circuits began going belly up in the late 1990s, it was Shari who kept National Amusements Inc. on track. She expanded the company globally, taking National into Russia and Latin America. She helped pioneer the upscale cinema, bringing gourmet food, bar lounges and valet parking to theaters such as the Bridge in Los Angeles.
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Father-daughter bond shattered
Sumner Redstone's move to drop Shari as the heir to his media empire has created deep wounds.
By Claudia Eller, Times Staff Writer
July 30, 2007
<snip>
In recent years, she and her father have sparred over the future of the theater business. Shari remains a true believer whereas Sumner wants to sell, viewing it as a no-growth business.
Shari never dreamed of joining the family business founded by her grandfather Mickey in the 1930s. Like her father, she practiced criminal and corporate law as her first career. After her third child was born, she stopped practicing full time. At one point, her father tried to persuade her to join National, but she turned him down.
But in 1994, while studying to be a social worker, her life shifted gears. Her 14-year marriage to Rabbi Ira Korff, who had been running National Amusements since 1987, ended. Sumner encouraged Shari to learn the business. He needed someone he trusted at a time when he was preoccupied with an acquisition drive at Viacom. She signed on as vice president of corporate planning and development.
"She surprised me how fast a learner she was," said National Chief Financial Officer Jerry Magner, who has worked at the circuit for 38 years and was hired by Sumner, his father and his brother. "She's a compassionate person — much different than her father. She's not an intimidator…. I don't know anybody who doesn't like Shari."
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http://www.latimes.com/entertainment/news/business/la-fi-shari30jul30,1,1815873,full.story?ctrack=2&cset=trueSee also:
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