×

Media Sumner Redstone

  • The announcement came just days after Sumner and Shari Redstone withdrew a proposal for CBS and Viacom to explore a merger. Redstone stepped down as executive chair of CBS when he became chairman emeritus at Viacom. A CBS spokesman declined to comment if Redstone would step down from the CBS board.

  • Restone will continue in non-voting role

    CNBC's Julia Boorstin reports the latest on Sumner Redstone and the Viacom board, where Redstone will retain his chairman emeritus title and participate in a non-voting way.

  • Redstone stepped down as executive chair of the board last February to become Chairman Emeritus, replaced by then-CEO Philippe Dauman. Dauman stepped down from Viacom earlier this year after losing a fight for control of the company to controlling shareholders Sumner Redstone and his daughter Shari Redstone. The Redstones own the majority of voting shares...

  • Viacom's Redstone to step down from board

    CNBC's Carl Quintanilla reports that Sumner Redstone has announced via a proxy that he will be stepping down from the board of Viacom in February.

  • Dec 16- Viacom Chairman Sumner Redstone will step down from the board of directors after the company's annual meeting in February, according to a company filing Friday.

  • Sumner Redstone

    Sydney Holland's legal action comes three days after she claimed Redstone paid millions of dollars to multiple women.

  • Redstone's daughter Shari, who controls CBS's and Viacom's controlling shareholder National Amusements together with her father, told the New York Times Dealbook conference last month that scale was crucial for both companies, because it would give them greater pricing power in content distribution. The chief executives of CBS and Viacom are also...

  • *Viacom down after Redstones withdraw CBS merger approval. NEW YORK, Dec 12- The S&P 500 and Nasdaq Composite fell on Monday after six sessions of gains, weighed by tech sector stocks, while a rally in energy shares petered out as crude oil gains withered. The chances that the U.S. central bank will not raise rates is "close to zero, but it's not zero," said Kim Forrest,...

  • Les Moonves, the longtime chief executive of CBS, said last week talks were still stuck in the early stages, more than two months after the Redstones asked the boards of both companies to explore a tie-up. CBS shares initially rose 1.8 percent, touching a nearly 2-1/ 2 year high, after CNBC cited a New York Post report that Verizon Communications Inc was interested in...

  • *Oil prices lose much of earlier gains. NEW YORK, Dec 12- The S&P 500 and Nasdaq Composite fell on Monday after six sessions of gains, weighed by tech sector stocks, while a rally in energy shares petered out as crude oil gains withered to less than 2 percent from nearly 6 percent earlier. The chances that the U.S. central bank will not raise rates is "close to zero, but it's...

  • Sumner Redstone and Sydney Holland in 2014

    Media titan Sumner Redstone gave out many millions of dollars to multiple mistresses, new legal filings claim.

  • Les Moonves, the longtime chief executive of CBS, said last week talks were still stuck in the early stages, more than two months after the Redstones asked the boards of both companies to explore a tie-up. CBS shares initially rose 1.8 percent, touching a nearly 2-1/ 2 year high, after CNBC cited a New York Post report that Verizon Communications Inc was interested in...

  • *Oil prices jump as much as 6.5 pct on output cut pact. Dec 12- Wall Street was lower in early afternoon trading on Monday as a drop in technology and financial stocks offset a jump in energy shares. Oil prices gained as much as 6.5 percent to an 18- month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle...

  • NEW YORK, Dec 12- Sumner Redstone's National Amusements said Monday it has stopped pushing its media properties CBS and Viacom to merge, citing progress by Viacom's new leadership, in place only a few weeks. CBS shares rose 1.8 percent, touching a nearly 2-1/ 2 year high after CNBC cited a report that Verizon Communications Inc was interested in buying the company.

  • NEW YORK, Dec 12- Sumner Redstone's National Amusements said Monday it has stopped pushing its media properties CBS and Viacom to merge, citing progress by Viacom's new leadership, in place only a few weeks. CBS shares rose 1.2 percent. While Viacom and CBS never entered negotiations around pricing, the two parties were far apart on what Viacom could be valued in a...

  • *Viacom, CBS down after Sumner Redstone withdraws merger approval. Oil prices gained as much as 6.5 percent to an 18- month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices. President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes...

  • NEW YORK, Dec 12- Sumner Redstone's privately-held National Amusements on Monday withdrew its merger proposal for CBS and Viacom, citing prospects for a turnaround at Viacom under its new leadership. CBS shares were down 3 percent at $60.69. The letter also said " CBS continues to perform exceptionally well under Les Moonves," the company's longtime CEO.

  • *Viacom, CBS down after Sumner Redstone withdraws merger approval. Oil prices rose as much as 6.5 percent to an 18- month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices. President-elect Donald Trump's expected agenda of economic stimulus and reduced taxes...

  • NEW YORK, Dec 12- Sumner Redstone's privately-held National Amusements on Monday withdrew its merger proposal for CBS and Viacom, according to three sources familiar with the situation who wished to remain anonymous. CBS shares were down 3.6 percent at $60.33. Shari Redstone and her father, 93- year-old Sumner Redstone, control 80 percent of CBS and Viacom...

  • NEW YORK, Dec 12- Sumner Redstone's privately-held National Amusements on Monday withdrew its merger proposal for CBS and Viacom, according to a source familiar with the situation who wished to remain anonymous. A reason for the withdrawal was not immediately clear. CBS and Viacom did not immediately have a comment on the news, which was first reported by CNBC.