Shari Redstone


CBS shareholders launch class action suit against Redstone family vehicle

CBS shareholders have officially launched a class action lawsuit against its majority stakeholder National Amusements, the investment firm of Sumner Redstone and family. The suit claims that National Amusements, now run by Redstone’s daughter Shari Redstone, has breached its fiduciary duty. Class B shareholders of CBS claim that Redstone has not acted in the company’s […]

CBS’ Moonves gets Upfronts ovation as legal battle heats up

CBS chief Leslie Moonves received a standing ovation from buyers at its Upfronts presentation last night, as the company faces a crunch after launching a lawsuit against its controlling shareholders, the Redstone family, on Monday In an atypical Upfront presentation, Moonves walked out to a standing ovation from a sizeable portion of the crowd who […]

Redstones slam ‘vicious’ Viacom attacks

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 […]

Viacom parent slams Dauman and Abrams for using company funds in legal battle

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 […]

Shari Redstone denies ambition to control Viacom

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 […]

Viacom battle takes new turn with Dauman lawsuit

The increasingly bitter battle between Philippe Dauman and Sumner Redstone has taken a new turn with Viacom CEO Dauman issuing a lawsuit in an attempt to reverse a decision to removed him from a Redstone family trust. Dauman issued a lawsuit yesterday, alleging Shari Redstone, Sumner’s daughter, removed him from the trust illegally and that Sumner is […]

Redstone removes Dauman from trust as Viacom battle enters new phase

Viacom owner Sumner Redstone has hit out at CEO and executive chairman Philippe Dauman, saying he has made “baseless attacks and misrepresentations” and removed him from a trust that controls Viacom and CBS. A bitter war of words has since broken out with media commentators suggesting Redstone’s move is designed to put his daughter Shari […]

Shari Redstone backs Moonves to head CBS

Shari Redstone has backed Les Moonves to “lead CBS into the digital future” after he was nominated to succeed her father as chairman of the US broadcaster, amid growing speculation over Viacom’s future. Moonves, currently president and CEO of CBS, is to become its chairman, with Sumner Redstone, 92, who controls both CBS and Viacom […]