Entertainment mogul Redstone finalizes divorce

January 22, 2009 12:38:59 PM PST
Documents show entertainment mogul Sumner Redstone has finalized the divorce from his wife of five years.

Redstone, executive chairman of CBS and Viacom, filed for divorce in October, citing "irreconcilable differences" with wife Paula Fortunato Redstone. A judge signed off on the couple's confidential agreement earlier this month and the judgment was entered Wednesday.

The pair had already negotiated a settlement and opted for an uncontested divorce. According to court records, the couple married in April 2003 and have no children.

Redstone, whose wealth was calculated at $7.6 billion in 2007, has been hit hard by the faltering economy. Last year he sold his majority stake in Midway Games and sold $233 million of his CBS Corp. and Viacom Inc. stock as he struggled to restructure $1.6 billion in debt.

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