Nov 25- A U.S. lawsuit raises new questions about the competence of Sumner Redstone and his ability as executive chairman of Viacom Inc and CBS Corp to run the two media companies. In a probate lawsuit filed in Los Angeles County Superior Court, Manuela Herzer, one of the billionaire media mogul's former girlfriends, described him as mentally vacant, "listless" and...
Nov 25- The Reuters story published Wednesday with the key word slug SUMENERREDSTONE-LAWSUIT/ MANUELA HERZER has been changed to SUMNERREDSTONE-LAWSUIT/ MANUELA HERZER.
LOS ANGELES— A legal battle that began Wednesday over medical care for ailing media mogul Sumner Redstone has produced dueling portraits of the billionaire's health and mental state. Redstone's former companion Manuela Herzer claims in a probate filing seeking to regain control of his care that Redstone can no longer make informed decisions and requires...
Nov 25- A lawyer for Sumner Redstone denied claims made by his ex-girlfriend in a lawsuit that the executive chairman of Viacom Inc and CBS Corp was mentally impaired and unable to make decisions. The Los Angeles Times earlier reported that Manuela Herzer, one of the billionaire media mogul's former girlfriends, filed a probate lawsuit in Los Angeles County...
Nov 12- Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported weaker-than-expected quarterly revenue on Thursday, although declines in ad sales for its U.S. cable TV business were not as steep as analysts had anticipated. Viacom shares rose nearly 3 percent. Viacom has also been facing questions about a successor to 92- year-old Chairman Sumner...
Aug 6- Viacom Inc reported weaker-than-expected quarterly revenue, hurt by lower revenue from its films business as there were no major movie releases in the third quarter. Revenue from Viacom's studio business, which includes Paramount Pictures Corp, fell 44 percent to $479 million. Net profit from continuing operations attributable to Viacom fell to $591...
Analysts had expected the media company to report earnings of 75 cents a share on $3.45 billion in revenue.
Value investor Mario Gabelli tells CNBC he's bullish on a few media stocks, equities exposed to European trucking, and a flavors and fragrances firm.
With earnings from Time Warner and Twenty-First Century Fox this week, investors will be listening for what the reports mean for a potential deal.
*Karmazin to step down on Feb. 1, 2013. Oct 23- Sirius XM Radio Inc Chief Executive Mel Karmazin will step down in February, a move that comes at a time when media mogul John Malone's Liberty Media Corp is trying to wrest full control of the satellite radio broadcaster.
NEW YORK-- Two years after granting CEO Leslie Moonves a bundle of stock options as a bonus for signing a long-term contract, CBS Corp. is giving him another signing bonus worth $22 million after extending his contract through the middle of 2017..
NEW YORK-- Leslie Moonves has a new five-year contract with broadcaster CBS that extends his term as chief executive through June 2017. CBS said 63- year-old Moonves' salary will remain the same and he will still be eligible for an annual bonus and stock grants.
By Jennifer Saba and Peter Lauria. Oct 10- Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions. Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp's.
Oct 10- Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions. Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp's.
CNBC.com looked at the top ten colleges and discovered which CEOs spent time there as underclassmen. Check out what we found.
We look at some of the most famous family business feuds of the last century. From the breakup to the makeup and everything in between.
Hoo boy did I stir up a hornet’s nest yesterday by having the temerity to question whether it was “right” to publish Viacom billionaire Sumner Redstone’s hilariously stupid voice message left for an enterprising reporter at the Daily Beast.
Sumner Redstone, chairman of Viacom and CBS, is miffed by a story quoting anonymous sources depicting him as a lecherous casting-couch exec bent on forcing Viacom’s MTV to air “The Electric Barbarellas,” a reality show about a babefest band.
Media mogul Sumner Redstone's holding company, National Amusements, said Wednesday it is selling a portion of its stake in CBS and Viacom to pay off its debts.
I've made my predictions for 2009, so It only seems appropriate to look back at the predictions I made a year ago. The world has been transformed by the financial crisis over the past year, so I have to say I'm pleasantly surprised by how much I actually got right, and how much continues to seem to be true.