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New England Patriots Owner Kraft Resigns From Viacom’s Board

New England Patriots owner Robert Kraft resigned from the board of Viacom Inc., saying he had too many other obligations to remain a director of the struggling media company controlled by Sumner Redstone.

“Obligations elsewhere had increased to the extent that he no longer felt capable of fulfilling his duties,” New York-based Viacom said Friday in a regulatory filing.

Kraft’s departure, which took effect Aug. 5, came amid a selloff of...