Viacom Inc said on Friday it cut the total pay of its 92-year-old Executive Chairman Sumner Redstone by 85 percent to $2 million last year in light of his “reduced responsibilities” and that it had raised the pay of Viacom Chief Executive Philippe Dauman. In a securities filing, the media company said the total compensation of Dauman rose to $54.2 million for the fiscal year ended Sept. 30, 2015, up from $44.3 million in the previous period, driven by a contract renewal award.