Media Sumner Redstone

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  • Advertising is still important for CBS- home of the Super Bowl this year- but the focus is shifting to new revenue streams. He would not say which CBS shows- which include hits such as "The Big Bang Theory" and "The Good Wife"- would be candidates for exclusive distribution on the All Access service, but suggested it would be original content and shows that have an avid fan...

  • NEW YORK, Feb 4- Viacom Inc's board of directors named Chief Executive Officer Philippe Dauman as executive chairman, replacing majority owner Sumner Redstone, overriding calls for an independent board chief from Redstone's daughter, who voted against Dauman. Viacom announced on Thursday that the ailing 92- year-old Redstone was becoming chairman...

  • NEW YORK, Feb 4- Viacom Inc's board of directors named Chief Executive Officer Philippe Dauman as executive chairman, replacing majority owner Sumner Redstone, overriding calls for an independent board chief from Redstone's daughter, who voted against Dauman. Viacom announced on Thursday that the ailing 92- year-old Redstone was becoming chairman...

  • On Thursday, the board of Viacom Inc, the company that owns the Paramount movie studio, MTV and other assets, gave his chairmanship to Philippe Dauman and made Redstone chairman emeritus. Redstone, a Harvard- educated lawyer from Boston, became one of U.S. media's most powerful figures by building up his family's theater chain, National Amusements, starting in the...

  • NEW YORK, Feb 4- Viacom Inc's board of directors named CEO Philippe Dauman as executive chairman on Thursday, replacing founder Sumner Redstone, overriding calls for an independent board chief from Redstone's daughter Shari, who voted against Dauman. Sumner Redstone and the rest of Viacom's board voted in favor of Dauman, and only Shari Redstone voted against...

  • LOS ANGELES— Aging media mogul Sumner Redstone stepped down as executive chairman of Viacom on Thursday and was replaced by CEO Philippe Dauman, a move that immediately disappointed investors. Investment adviser SpringOwl, which holds a stake of undisclosed size in Viacom, had also opposed Dauman's bid for the chairmanship, calling instead for an...

  • NEW YORK, Feb 4- Viacom Inc Chief Executive Philippe Dauman will take on the additional role of chairman of the media group, replacing 92- year-old mogul Sumner Redstone, the company said on Thursday. Shari Redstone said that she turned down the chairman job. CBS, which owns Showtime as well as the eponymous television channel, said Redstone would be replaced by...

  • Viacom board names Philippe Dauman executive chair Thursday, 4 Feb 2016 | 11:08 AM ET

    Feb 4- The Viacom Board of Directors has named CEO Philippe Dauman executive chairman, succeeding Sumner Redstone.

  • Asian stocks directionless ahead of US jobless report Thursday, 4 Feb 2016 | 10:23 AM ET

    NEW YORK— U.S. stocks posted modest gains Thursday as investors await Friday's closely watched jobs report, which could offer insight about the U.S. economy and help determine whether the Federal Reserve raises interest rates again next month. Many believe the likelihood of another rate increase in March has faded because of recent signs of weakness in the...

  • NEW YORK, Feb 4- Viacom Inc Chief Executive Philippe Dauman is likely to become chairman of the media group, replacing 92- year-old mogul Sumner Redstone over daughter Shari Redstone's objections, CNBC reported on Thursday, citing sources. Viacom, home to movie studio Paramount and television channel MTV, was not immediately available for comment.

  • Feb 4- Viacom Inc Chief Executive Philippe Dauman is expected to take over the role of executive chairman from Sumner Redstone, CNBC tweeted, citing sources. Dauman will take over the role despite objections from Redstone's daughter and Vice Chairman Shari Redstone, CNBC tweeted. Shari Redstone, 60, had said that both companies needed an "independent voice" as...

  • *Weekly employment numbers rise more than expected. Feb 4- Wall Street looked set to open lower on Thursday as oil prices slipped, pressured by oversupply and skepticism about the progress of efforts to lobby crude producers for output cuts. "Investors are still keeping an eye on oil with the market reacting as if oil is a clear signal on global demand," said Scott...

  • Sumner Redstone steps down Thursday, 4 Feb 2016 | 8:08 AM ET
    Sumner Redstone steps down

    CNBC's Julia Boorstin takes a look at what Sumner Redstone's departure means for CBS and Viacom.

  • *Oil prices held on to most of their previous day's gains of 7 percent as the dollar weakened and Venezuela appeared to be gaining support from more members of OPEC and other producers for a meeting. *Fed policymaker William Dudley said in an interview published on Wednesday that monetary conditions had tightened since the Fed raised rates and that...

  • Who will run Viacom? Thursday, 4 Feb 2016 | 6:20 AM ET
    Who will run Viacom?

    Anthony DiClemente, Nomura senior analyst discusses leadership changes at CBS and Viacom on the heels of Sumner Redstone's resignation, and its likely impact on either company.

  • Sumner Redstone resigns as CBS executive chairman Thursday, 4 Feb 2016 | 5:09 AM ET
    Sumner Redstone resigns as CBS executive chairman

    It's the end of an era as media mogul Sumner Redstone steps down at CBC and CEO Les Moonves takes the reigns, reports CNBC's Landon Dowdy.

  • NEW YORK/ LOS ANGELES, Feb 3- Viacom's board appears poised to replace Sumner Redstone as chairman on Thursday, after the aging mogul stepped down from his executive role at the top of CBS, but it was not apparent who would get his job at Viacom as Redstone's daughter made clear she did not want CEO Philippe Dauman to succeed her father. Redstone, 92 and in poor health,...

  • Trading media stocks on CBS changes Wednesday, 3 Feb 2016 | 7:10 PM ET
    Sumner Redstone in 2012

    Viacom and CBS shares jumped on leadership changes, and some "Fast Money" traders believe the stocks could climb even more.

  • NEW YORK, Feb 3- Viacom's board appears poised to replace Sumner Redstone as chairman on Thursday, after the aging mogul stepped down from his executive role at the top of CBS, but it was not clear who would get his job at Viacom as Redstone's daughter made clear she did not want CEO Philippe Dauman to succeed her father. Redstone, 92 and in poor health, unexpectedly...

  • After-hours buzz: GPRO, CBS, YUM & more Wednesday, 3 Feb 2016 | 6:09 PM ET
    NYSE Trader

    Check out the companies making headlines after the bell Wednesday: GoPro, Yum Brands, CBS and more.