Viacom boss resigns following $72million pay-off...

The chief executive officer of Viacom, Philippe Dauman, has resigned after a fraught, familial battle for control of the US media giant.

Thomas Dooley, his longtime right-hand man as the company's chief operating officer, replaces him temporarily.

Mr Dauman also stood down as president, under a settlement that includes a $72m (£55m) payoff. He remains non-executive chairman until 13 September.

He is due to present a plan to sell a small stake in Paramount Pictures.

The settlement follows a battle between Mr Dauman and Viacom's controlling shareholder, Sumner Redstone.

Until recently Mr Dauman, 62, was a close confidant to the 93-year-old Mr Redstone and had worked for him for 30 years. Full story...

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