Media Sumner Redstone

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  • Dec 12- Shari Redstone, vice chair of Viacom Inc and the daughter of controlling shareholder Sumner Redstone, has withdrawn her support for a merger between CBS Corp and Viacom, CNBC reported on Monday.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

  • NEW YORK, Nov 10- Shari Redstone, a controlling shareholder of Viacom Inc and CBS Corp, never wanted to separate the two media companies 10 years ago, she told attendees of The New York Times DealBook conference on Thursday. Shari Redstone and her father, Sumner Redstone control Viacom Inc and CBS corp through their privately held movie theater company National...

  • Nov 9- Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported lower-than-expected quarterly revenue on Wednesday, weighed down by a decline in domestic advertising sales and the absence of hits from its Paramount film studio. On a conference call with analysts, Viacom interim CEO Tom Dooley, who steps down on Tuesday, said the board's exploration...

  • Nov 9- Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported lower-than-expected quarterly revenue on Wednesday, weighed down by lower domestic advertising sales and the absence of hit movie releases at its Paramount film studio. Many investors and observers expect the two to merge, with CBS CEO Leslie Moonves at the helm. Earlier this month,...

  • Nov 9- Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, posted quarterly revenue below estimates on Wednesday, weighed down by lower domestic advertising revenue and the absence of hit movie releases at its Paramount film studio. Viacom stopped the search for a minority investor in Paramount in September, a plan championed by former Chief Executive...

  • Media mogul Sumner Redstone, who controls both CBS and Viacom through his privately held National Amusements, in September proposed a merger of the two companies, which he split up a decade ago. Shari Redstone, Sumner Redstone's daughter, has been in favor of merging CBS and Viacom under the leadership of CBS Chief Executive Leslie Moonves, sources have told...

  • Media mogul Sumner Redstone, who controls both CBS and Viacom through his privately held National Amusements, in September proposed a merger of the two companies. Shari Redstone, Sumner Redstone's daughter, has been in favor of merging CBS and Viacom under the leadership of CBS Chief Executive Leslie Moonves, sources have told Reuters. CBS, home to popular shows...

  • The appointment comes after Viacom, which owns Nickelodeon, MTV and the Paramount movie studio, hired financial advisers earlier this month to explore a merger with CBS following a proposal by Sumner Redstone's National Amusements Inc, a majority shareholder of both companies. "We are determined to move forward aggressively to strengthen Viacom for the...

  • The appointment comes as Viacom, which owns Nickelodeon and MTV, hired financial advisers earlier this month to explore a merger with CBS Corp following a proposal by Sumner Redstone's National Amusements Inc, a majority shareholder of both companies. "We are determined to move forward aggressively to strengthen Viacom for the future, whether as a...

  • Sumner Redstone suing ex-girlfriends for $150M

    The media mogul says he was forced to borrow $100-million from the private company that holds his voting shares of CBS and Viacom.

  • Sumner Redstone

    Sumner Redstone sued two ex-girlfriends, alleging he was forced to borrow from the private company that holds his voting shares of CBS and Viacom.