Media Sumner Redstone

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  • 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.

  • Feb 3- U.S. stocks staged a late-day rally on Wednesday as an 8- percent jump in oil prices lifted beaten-down energy shares and financials rebounded. Comments by Russia's foreign minister reignited hopes of a deal among oil producers to trim output. "What are keying off of is the move in commodities and in the dollar," said Walter Todd, chief investment officer at...

  • Shares of CBS were up 4.6 percent after the bell, while those of Viacom Inc, where Redstone is also chairman, rose 7.9 percent. CBS said Redstone would be replaced by Leslie Moonves, its president and chief executive since 2006.. Redstone's resignation as executive chairman was effective Feb. 2, CBS said.

  • LOS ANGELES— Sumner Redstone, the ailing 92- year-old media mogul who controls TV and movie powerhouses CBS and Viacom, has stepped down as executive chairman of CBS amid a courtroom battle over his health and mental capacity. Viacom CEO Philippe Dauman, once Redstone's trusted lawyer, holds authority to make medical decisions for Redstone if he is deemed...

  • CBS shares were up 3.6 percent in after-market trading, while those of Viacom Inc, where Redstone is also chairman, rose 6.3 percent. CBS said Redstone would be replaced by Leslie Moonves, the president and chief executive officer of the company. But he will stay on as chairman emeritus at CBS.

  • Sumner Redstone resigns as CBS executive chairman Wednesday, 3 Feb 2016 | 4:15 PM ET

    Feb 3- CBS Corp said on Wednesday Sumner Redstone had resigned as executive chairman, a move that comes amid heightened questions about the billionaire's physical and mental health. He will be replaced by Leslie Moonves, the president and chief executive officer of CBS, the company said. Redstone's resignation was effective Feb. 2.

  • LOS ANGELES, Jan 28- Viacom Inc Executive Chairman Sumner Redstone will undergo an examination on Friday by a doctor hired by an ex-girlfriend in a lawsuit that challenges his mental competency, a spokesman for the former girlfriend said. Stephen Read, a geriatric psychiatrist retained by former girlfriend Manuela Herzer, will examine Redstone at his...

  • Viacom's Redstone to undergo mental exam on Friday Thursday, 28 Jan 2016 | 3:58 PM ET

    LOS ANGELES, Jan 28- Viacom Inc Executive Chairman Sumner Redstone will undergo an examination on Friday by a doctor hired by an ex-girlfriend in a lawsuit that challenges his mental competency, a spokesman for the former girlfriend said. Stephen Read, a geriatric psychiatrist retained by former girlfriend Manuela Herzer, will examine Redstone at his...

  • VIACOM EXECUTIVE CHAIRMAN SUMNER REDSTONE TO UNDERGO EXAM ON FRIDAY BY DOCTOR HIRED BY EX-GIRLFRIEND MANUELA HERZER- HERZER SPOKESMAN.