Sumner Redstone seized control of Viacom in a hostile takeover in 1987. He then made sure that no other corporate raider could take it from him, dividing the company’s stock into voting and nonvoting shares. Thirty years later, Redstone’s absolute control is under threat not from an external foe but from within...
Board members from CBS Corp. and Viacom are expected to meet as soon as next week to begin discussions on the valuations of both companies for a possible merger. Executives at both media companies have been hip-deep in crunching numbers and preparing financial data to guide the discussions between the members of the special committees assembled to consider options for a CBS - Viacom reunion...
A CBS shareholder charges in a new legal filing that corporate board members and CEO Leslie Moonves were “recklessly profligate” when they approved nearly $13 million in pay over three years for one-time chairman Sumner Redstone , after it became clear that he was “incapacitated beyond recovery.” The most damning new evidence in the amended complaint, filed in Delaware Chancery Court, comes from Redstone’s own admissions about his condition, in a lawsuit against two former caretakers and paramours — Manuela Herzer and Sydney Holland. The filing says that the corporate leaders looked out for ...
Viacom chief Philippe Dauman has opted not to attend Allen & Company’s Sun Valley media conference, a spokesman for the company said Thursday. The exclusive gathering of moguls and billionaires was being closely watched because Shari Redstone , who is battling with Dauman for control of Viacom, is on hand. She has been seen at the resort with CBS chief Les Moonves and with Nicole Seligman, a former Sony executive and newly named board member...
One shareholder asked the Viacom question. Leslie Moonves talked up the pending launch of Showtime as a digital-only option. The four items on the agenda were passed by better than 97% margins, and the entirety of CBS’ 2015 annual shareholders meeting on Thursday morning was completed in just under 30 minutes. “No company in better position to benefit from a dynamic shifting marketplace than CBS,” Moonves said during his state-of-the-company presentation...
Hammer fills the seat vacated in October by Marc Andreessen. She is one of 10 independent directors on the 12-member board chaired by Ebay founder Pierre Omidyar. The appointment comes as Ebay prepares to separate its PayPal service into a ...
Live Nation Entertainment has added music vet Jimmy Iovine to the concert promoter's board of directors . Iovine serves as an independent director of the board, and will help Live Nation as it seeks new ways to attract and engage live music fans...
TOKYO — Sony announced the nominees for its board of directors , including five new faces, on Tuesday. One is former U.S. ambassador to Japan John Roos, a veteran Silicon Valley lawyer with an enormous array of contacts who may help Sony strengthen ...
The Freedom of the Press board of directors is set to bring on NSA whistleblower Edward Snowden as its newest member. The addition will come into effect next month, the org announced...