The interim president and CEO of Viacom, Tom Dooley, will leave the media giant on November 15, informing the board of his decision “to facilitate an orderly transition”. The news came in an announcement that also revealed: Former CEO Philippe Dauman’s plan to sell 49% of film division Paramount Pictures had been shelved Quarterly dividends were […]
Viacom’s main shareholder, Sumner Redstone, has called for the media giant to “embark swiftly” on a new strategy after the exit of Philippe Dauman was formally announced. On Saturday, Viacom and Redstone’s National Amusements holding vehicle confirmed the long-serving Dauman was leaving his post as CEO and president and would be replaced in the interim […]
Philippe Dauman is set to leave his role as CEO of Viacom in exchange for a massive pay-out, ending the war for control of the US entertainment giant. According to numerous media sources, Viacom’s board met last night to vote and agree on terms of a deal with the company’s controlling shareholder, Sumner Redstone. Viacom […]
Viacom’s majority shareholder, National Amusements, has renewed its calls for a management shakeup at the firm after Viacom reported a 29% drop in operating income. Following the announcement of Viacom’s fiscal third quarter results yesterday, National Amusements, which is controlled by the Redstone family, accused the Viacom leadership of overseeing a “significant exodus of creative […]
The fight for control of Sumner Redstone’s Viacom is headed for a court case. A Massachusetts court has ruled that Viacom CEO Philippe Dauman lead board director George Abrams can make their case against parent company National Amusements during a trial in October. A judge denied a motion taken to strike the suit, which aims […]
National Amusements has branded members of Viacom’s board “antagonistic” and “vicious” as the battle for the future of the US media giant rages on in public. A letter distributed to press said it regarded actions recently dismissed Viacom board members, including Philippe Dauman, as “antagonistic to the interests” of the company, and that even if […]
The parent company of Viacom has reacted furiously after the media giant revealed it would use corporate cash to finance legal and PR costs for under-fire CEO Philippe Dauman. Last week, Viacom made an SEC filing that revealed Viacom would foot the bill for costs accrued as Dauman and the rest of the axed Viacom board […]
Viacom’s chief executive, Philippe Dauman, is one of five directors axed from the media giant’s board by parent company National Amusements. Five new directors have been elected to the board to replace those chopped, who comprise Dauman, George Abrams, Blythe McGarvie, Frederic Salerno and William Schwartz. Dauman does remain CEO for the time being, though […]
Former Viacom CEO Tom Freston has attacked Philippe Dauman, claiming his successor is the wrong person to turn the media giant’ fortunes around. Speaking CNBC yesterday, Freston said Viacom should be run by a person that’s steeped in the popular culture with young audiences, the person who owns that chair should be somebody who is […]
The bitter dispute between the Redstones and several directors of Viacom is rumbling on, with Shari Redstone, daughter of Sumner, stating she does not want to run the media giant. In the latest salvo in the battle for control of Viacom, Shari Redstone’s team issued a statement that said the mogul’s daughter ‘has made it abundantly […]
