Viacom's Philippe Dauman Skipping Sun Valley Mogul Gathering

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Viacom CEO Philippe Dauman

"Mr. Dauman had planned to join the Allen & Co. conference but is attending to pressing business matters," the company says.

Viacom chairman, president and CEO Philippe Dauman won't attend investment bank Allen & Co.'s annual Sun Valley, Idaho, mogul get-together despite having planned to do so as of the beginning of the week.

"Mr. Dauman had planned to join the Allen & Co. conference but is attending to pressing business matters," Viacom said Thursday in a statement.

Viacom vice chair Shari Redstone arrived at the "summer camp" for media and technology moguls earlier this week. Media representatives have been looking for a possible encounter between the two.

Redstone — whose family trust owns Viacom and CBS Corp., where she also serves as vice chair — was spotted arriving at the Sun Valley Lodge on Tuesday. She and Dauman are in the midst of a legal battle over the future of the company and the potential sale of a major stake in Paramount Pictures as the health of her father, Sumner Redstone, has been deteriorating.

Also attending is CBS chairman and CEO Leslie Moonves. The gathered media saw him driving Shari Redstone to dinner on Tuesday. There has been speculation on Wall Street that she might look to merge CBS and Viacom again — with Moonves leading the combined media giant.

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