At 85, Sumner Redstone is still going strong

In 2000, at an age when most people are retired, the 77-year-old Redstone was at it again when he acquired CBS. The deal would bring together the CBS Television Network, more than a dozen cable channels, Infinity Broadcasting, Paramount pictures, Simon and Schuster and Outdoor advertising.

But only five years later, Redstone would decide to split the two companies. He still maintains control of both, but at 85, the question of who will take over for him remains unresolved. His daughter Shari runs the theater circuit, National Amusements, and as a board member of both CBS and Viacom, she was once expected to be her father's successor. But Redstone said that’s not going to happen.

“The reason she won't succeed me is not that she isn't qualified,” he said. “ But I have made it clear that good governance requires, these are two public companies, they're not private like national, that two companies, the boards should decide who succeeds me. I'm not worried about it because it's going to be another 20, 30 years.”

Redstone is currently negotiating to sell Shari the movie theater business, assuming she is willing to give up her stake in CBS and Viacom as part of the deal. The day-to-day operation of his empire is left to the companies two CEOs: Leslie Moonves at CBS and Phillippe Dauman at Viacom. But Redstone still reserves the right to make heavy-handed decisions, like firing mega-star Tom Cruise over "his behavior" – including comments on NBC’s TODAY Show than “psychiatry is a pseudo-science.”

“Not only that, he had an extraordinarily expensive deal at Paramount,” said Redstone. “Ten million bucks just to stay on the lot? So I did finally say goodbye to him. But I still like Tom. I still think he's a great actor. He had lunch with me. It's clear he wants to come back.”

His latest business conflict is with David Geffen and Steven Spielberg of the movie studio Dreamworks SKG, which Viacom bought in 2006. Both men have indicated they may leave the company at the end of this year. But once again, Redstone seems to already have what he wants.

“Part of the deal was that we got all of their library,” he said. “All of their work in progress belongs to us, not to DreamWorks. So Spielberg will be making pictures using that product, which belongs to us, I believe for years to come. We're all friends.

And if Redstone continues to get his way, he'll be around to enjoy every minute of it.

“I don't want to die. I love what I'm doing,” he said. “I love Viacom. I love CBS. And so I don't want to die. I have a will to live. The same will to win that I've always had. And — I'm gonna fight death as long as I can. I like it here. I don't want to go anywhere else.”

Also in msnbc.com business Biz Quiz: Cheap cheeseburgers coming in mail ConsumerMan: Be careful with vacation tweets Electric cars to jolt car industry  |  Interactive GM hopes this time’s a charm with Bob Lutz   Video: Foreclosure actions set a new record

MORE FROM CNBC: BUSINESSNATION

CNBC: BusinessNation Section Front

Baseball bat maker still hitting home runs U.S. tobacco farming is bigger than ever Big venture built on little shoe accessory Unwinding the long history of the Slinky Brazil fertile with promise for U.S. farmers Working Magic off the basketball court A business success story — with a twist CNBC Business Nation: Are you insured? CNBC special: Swoosh! Inside Nike CNBC: BusinessNation Section Front   Add CNBC: BusinessNation headlines to your news reader: