Latest Sumner Redstone News

CBS controlling shareholder fires back over board vote

May. 29, 2018 5:30 PM EDT

DOVER, Del. (AP) — CBS Corp.'s controlling shareholder fired back Tuesday over a board attempt to dilute the shareholder's stock voting power, the latest move in an escalating legal battle for control of the media company. In complaint filed in Delaware's Chancery Court, National Amusements Inc. argues...

CBS renews NAI fight, seeks court approval of dilution vote

May. 23, 2018 3:49 PM EDT

DOVER, Del. (AP) — CBS Corp. asked a Delaware judge on Wednesday to bless a move by its board to dilute the stock voting power of its controlling shareholder, the latest step in an ongoing legal battle for control of the mass media company. In amending a lawsuit filed earlier this month, CBS attorneys...

Dismissal upheld in suit over Viacom payments to Redstone

May. 18, 2018 4:54 PM EDT

DOVER, Del. (AP) — Delaware's Supreme Court has upheld the dismissal of a shareholder lawsuit challenging Viacom Inc.'s payment of more than $13 million in compensation to company founder and former chairman Sumner Redstone. The court on Friday affirmed a judge's dismissal of a suit alleging that Viacom's...

CBS board approves special dividend in face of likely veto

May. 17, 2018 8:55 PM EDT

DOVER, Del. (AP) — Most of CBS Corp.'s board on Thursday approved a special dividend that could enable the company to break free from its controlling shareholder, but the power struggle's outcome still hinges on an ongoing legal battle. National Amusement Inc., currently CBS's majority shareholder, would...

The Latest: CBS approves dividend in face of likely veto

May. 17, 2018 7:33 PM EDT

DOVER, Del. (AP) — The Latest on the battle between CBS Corp. and its controlling shareholders, National Amusements Inc. (all times local): 7:30 p.m. Most of CBS Corp.'s board has approved a special dividend that could enable the company to break free from its controlling shareholder, but the power...

Judge mulls CBS restraining order against major shareholder

May. 16, 2018 6:20 PM EDT

WILMINGTON, Del. (AP) — A Delaware judge ordered a pause on Wednesday in a dispute between CBS and its majority shareholder that could decide control of the company. Chancellor Andre Bouchard granted CBS a temporary restraining order prohibiting National Amusements Inc. from taking any action to thwart a...

CBS Corp. sues majority shareholder to gain independence

May. 14, 2018 12:29 PM EDT

NEW YORK (AP) — CBS is suing its controlling shareholder as part of its long-running attempt to avoid a combination with Viacom. Both companies are controlled by National Amusements. That's the holding company run by Shari Redstone, the daughter of media mogul Sumner Redstone. Though National Amusements...