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Media Sumner Redstone

  • Leslie Moonves, Chairman and CEO of CBS Corporation (l) and Shari Redstone Vice Chairperson of Viacom.

    A demand letter sent last year by Moonves to Redstone is playing out in the boardroom battle, says the New Yorker columnist and best-selling author.

  • Leslie Moonves, Chairman and CEO of CBS Corporation (l) and Shari Redstone Vice Chairperson of Viacom.

    A Delaware judge ruled in favor of National Amusements' bid to challenge a voting control plan.

  • News of the lawsuit sent CBS shares up nearly 3 percent and Viacom shares down more than 6 percent. Analysts have said a merger would benefit Viacom more than the stronger CBS. NAI is a privately held movie theater company owned by Shari and her father Sumner Redstone that controls a majority of the voting shares in both CBS and Viacom.

  • The news of the lawsuit, filed to a Delaware court and also seeking to dilute the 79 percent voting rights in CBS held by Redstone's National Amusements Inc, pushed the network's shares up nearly 1 percent and those in Viacom down 6 percent. CBS said in the lawsuit Shari Redstone had taken actions over the past two years that have led the special committee of the...

  • May 14- CBS Corp on Monday asked a court to block controlling shareholder Shari Redstone from interfering at a special meeting of its board called to consider a merger with Viacom.

  • May 4- Shari Redstone, the media heiress whose family controls CBS Corp and Viacom Inc, has offered CBS CEO Leslie Moonves to drop her demands for Viacom CEO Bob Bakish to be his No. 2 following a merger, as long as Bakish sits on the combined company's board, people familiar with the matter said on Friday. Redstone has been trying to put together a deal that will keep...

  • May 4- Shari Redstone, the media heiress whose family controls CBS Corp and Viacom Inc, has offered CBS CEO Leslie Moonves to drop her demands for Viacom CEO Bob Bakish to be his No. 2 following a merger, as long as Bakish sits on the combined company's board, people familiar with the matter told Reuters on Friday. Redstone has been trying to put together a deal that will...

  • CBS, which is in tough merger talks with Viacom Inc, topped revenue and profit estimates on Thursday.

  • CBS executives declined to comment on merger talks with Viacom on the analyst call Thursday, and Chief Executive Leslie Moonves was upbeat about the company's ability to continue to grow based on its current strategy of increasing revenue outside of advertising. More than two-thirds of subscribers to CBS' online streaming offerings are electing to pay more...

  • The New York- based company's results come at a key juncture as CBS and Viacom, which are both controlled by Sumner Redstone and his daughter Shari, announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Excluding one-time items, CBS reported a profit of $1.34 per share, beating analysts' average estimate of...

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • April 11- Paulson& Co, the hedge fund firm led by billionaire investor John Paulson, has taken a stake in Viacom Inc as the U.S. media company has started to turn around its business, Paulson told Reuters in an interview. CBS and Viacom, both of which are controlled by media moguls Shari and Sumner Redstone, began exploring a merger in February. A merger of CBS, which owns...

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • April 11- Paulson& Co, the hedge fund firm led by billionaire investor John Paulson, has taken a stake in Viacom Inc as the U.S. media company has started to turn around its business amid a challenging landscape, Paulson told Reuters in an interview. CBS and Viacom, both of which are controlled by Shari and Sumner Redstone, began exploring a merger in February.

  • Her long-time friend and business ally, powerful CBS chief executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • A person exits the Viacom offices in New York.

    Viacom has asked CBS to sweeten its merger bid by about $2.8 billion or almost a quarter more than CBS's offer, people familiar with the matter said.

  • Parsons' nomination comes as Shari Redstone, who with her father Sumner Redstone controls both CBS and Viacom, pushes to recombine the media giants after failing in an attempt to do so in 2016.. Shari Redstone had been gathering names of possible candidates for CBS's board, as the company plans on replacing several of its directors at its annual shareholder...

  • The CBS offer, which was communicated verbally last Friday, valued Viacom at below its market value of around $12.5 billion, according to the sources. National Amusements Inc, the controlling shareholder of CBS and Viacom, wants Viacom CEO Robert Bakish to be No. 2 in the combined company, the sources said. But CBS CEO Les Moonves, who has offered to run the combined...

  • CBS, Viacom talks hit potential roadblock

    CNBC's David Faber reports the latest on the potential deal between CBS and Viacom.