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Media Sumner Redstone

  • 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.

  • Dec 12- Shari Redstone, vice chair of Viacom Inc and the daughter of controlling shareholder Sumner Redstone, has withdrawn her support for a merger between CBS Corp and Viacom, CNBC reported on Monday.

  • Nov 28- The top priorities of Viacom Inc's acting president and chief executive are improving key relations with affiliates as well as the struggling media company's internal culture, Bob Bakish told Reuters at the end of his first week on the job. In his first week on the job, he met with talent, as well as distribution partners and executives and employees on both...

  • Sumner Redstone and his daughter Shari Redstone, who own the majority of voting shares of both Viacom and CBS through their privately-held movie theater company National Amusements Inc, are pushing to recombine the two companies 10 years after they split from each other. Many investors and observers believe a deal could be announced as soon as by the end of the...

  • LOS ANGELES, Nov 13- Alien invasion thriller "Arrival" capitalized on strong reviews to score an impressive debut, while Marvel's "Doctor Strange" topped the box office for the second consecutive weekend. Paramount picked up domestic rights to the film for $20 million. "Arrival's" strong box office result is a shot in the arm for Paramount, which has weathered a...

  • Gabelli's big bet media mergers

    Mario Gabelli, GAMCO Investors chairman & CEO, weighs in on the likelihood of a Viacom/CBS merger and why he would like to see Bob Iger run it. Also Gabelli shares his thoughts on the AT&T/Time Warner deal, and the future of News Corp.