Shari Redstone and Leslie Moonves Have Starring Roles in a Corporate War Image Leslie Moonves, the chief executive of CBS, is at war with Shari Redstone, the leader of the network’s parent company. Redstone’s main opponent, Mr. Bouchard of Delaware’s Court of Chancery left a door open for CBS to challenge any further moves by its main shareholder down the line. Moonves, whom she had originally hoped would run the combined entity.
Image Nickelodeon, a Viacom channel for children and teens, has lost some of its talent over the years. Paley founded the Columbia Broadcasting System. Image Sumner and Shari Redstone in 2012. Redstone is said to be eyeing for Mr. Entrepreneurial founders are often reluctant to cede control; Facebook, Google’s parent company Alphabet and Snap are all dual-class share companies. One called the merger a potential “disaster” for CBS.
Early Thursday, a Delaware court handed Shari Redstone and her family-owned National Amusements an important legal victory in a fight for control of CBS. Eleven of the 14 board members supported a proposal to issue a dividend that would dilute Shari Redstone's controlling stake in the broadcaster. Earlier this year Shari Redstone pushed CBS and Viacom to form special board committees to explore a merger.
With three board seats controlled by her company, National Amusements Inc. (NAI), that would give her effective veto power over the dilution. Redstone to orchestrate the merger. Kahl added that the number of questions he could not answer far exceeded the number of questions he could. Credit Krista Schlueter for The New York Times By Michael J. de la Merced and John Koblin May 17, 2018 They were once allies, if not friends.
Earlier in the week, while the judge was considering the lawsuit, Mr. But he was not on board with the plan, believing it to help a struggling Viacom but not a prospering CBS. Shari Redstone, the president of National Amusements, which controls both companies, is in the thick of a public clash with Leslie Moonves, the chief executive of CBS, where Ms. Last year the channel’s president, Cyma Zarghami, cut a ribbon accompanied with Viacom’s chief executive, Robert Bakish, and Shari Redstone, vice chairwoman of the board, third and fourth from right.