Investors have been watching the case closely to see how it might affect Viacom and CBS, two of the biggest U.S. media companies. If the judge rules that Redstone was incompetent, that could prompt the board of National Amusements Inc., the family holding company that owns his stakes in CBS and Viacom, to have his personal physicians re-examine his mental state.
A settlement could prevent more family secrets from being spilled. Both Shari Redstone and Dauman, Viacom’s chief executive officer, had been asked to provide testimony. Depositions for both were suspended, according to people with knowledge of the matter. The case was set to go to trial May 6.