Sumner Redstone leaving Viacom board after February meeting

Small BusinessAssociated Press

Sumner Redstone is leaving the board of the movie and TV company he controls, Viacom, after its February meeting.

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The 93-year-old took over Viacom in 1987 but stepped down as executive chairman in February. Viacom said Friday that Redstone will keep his chairman emeritus title and can still attend board meetings, but won't have a vote.

The New York company owns the Paramount Pictures movie studio and networks including MTV, Nickelodeon, Comedy Central and BET. Redstone also controls broadcaster CBS, and his controlling company, National Amusements, on Monday said that it's abandoning its proposal to combine the two companies. 10 years after they split.

Viacom's management has been in upheaval in the past few years as viewers of its cable networks decline.