Sumner Redstone’s Brother Dies at 83

4:57 PM PST 12/28/2011 by Mike Barnes
Pascal Le Segretain/Getty Images
Sumner Redstone

Edward Redstone cashed out of family’s National Amusement business to go into banking.

Edward Redstone, the younger brother of media titan Sumner Redstone and a onetime partner in National Amusements, the family’s exhibition business, died Dec. 23 at Eisenhower Medical Center in Rancho Mirage, Calif. He was 83.

Redstone was stricken at home and was being taken by family members to the hospital when he suffered an apparent heart attack, his wife, Madeline Redstone, told The Desert Sun.

PHOTOS: Hollywood’s Notable Deaths

National Amusements was started in 1936 by his father, Mickey. In 1972, Redstone sued his father and brother, accusing them of “mismanagement” and “wrongdoing,” according to court documents, then left the company in a settlement deal by which two-thirds of his stake was bought out for a $5 million promissory note and the rest split between his two children, according to a 2007 article in Forbes magazine.

That deal put Sumner in control of National Amusements, which became the foundation for his media operation that is now fronted by CBS Corp. and Viacom.

Edward Redstone went on to own and operate four banks in his native Massachusetts and became a generous benefactor of local arts and health care organizations after moving to the Palm Springs area about 15 years ago.

In addition to his wife and 88-year-old brother, Redstone is survived by niece Shari Redstone, Sumner’s daughter and current president of National Amusements, four children and nine grandchildren. A memorial service will be held at 4 p.m. Jan. 19 at Tamarisk Country Club. The family asked that donations be sent to the Betty Ford Center in Rancho Mirage.

comments powered by Disqus