In the papers, the New York Times said there is a power struggle going on at media company Viacom (NASDAQ:VIA) between chief executive Philippe Dauman and Shari Redstone, the daughter of ailing media titan Sumner Redstone. Dauman appears to have won round one of the battle, after being announced as successor to 92 years old Redstone as company chairman. Shari Redstone was the only Viacom director to vote against Dauman's nomination, suggesting "the real fight has only just begun". Shares shed 7.7% on Thursday.