Sumner Redstone

CBS extends Les Moonves’ contract until 2021

US media giant CBS Corp has extended chief executive Leslie Moonves’ contract for an additional two years — meaning he will now remain in charge until at least 2021. Moonves, who joined CBS in 1995, will be 71 years-old at that time, though no one is ruling out the possibility of further extensions. Even if […]

Paramount chief Grey exiting ahead of network launch

Paramount Pictures chairman and CEO Brad Grey is stepping down after twelve years with Viacom. For TV execs, the news comes ahead of the establishment of the Paramount Network, which Viacom president and CEO Bob Bakish has placed at the centre of his plans to turn around the giant media business. Paramount Television and Digital […]

Bakish ‘set for interim Viacom CEO role’

Viacom’s international president and CEO, Bob Bakish, is set to be named interim chief executive of the wider business as the possibility of a merger with CBS is explored. Bloomberg cited unnamed sources as saying Viacom International Media Networks boss Bakish was “close” to landing the post. Current interim CEO Tom Dooley is leaving the […]

Redstones push for Viacom-CBS merger

The majority shareholder of Viacom and CBS has urged the US media giants to re-merge. National Amusements has sent an open letter to CBS Corp. chairman, president and CEO Les Mooves (pictured) and the Viacom board of requesting they “explore a potential combination”. CBS and Viacom operated as one company between 1999 and December 2005, […]

Viacom to set strategy ‘swiftly’ after Dauman exit

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 […]

Dauman set to exit as Viacom war ends

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 corporate crisis weighs on confidence

Moody’s has said the outlook for Viacom is now negative, citing weak results and an “unprecedented corporate governance crisis”. The influential credit ratings agency further warned that the media giant’s rating could be downgraded if the decline in its performance is not arrested, and the company continues to make “ill afforded dividend payments in the […]

Dauman, Redstones set for Viacom court battle

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 (pictured) and 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, […]

Viacom, NA clash over Paramount sale plan

Selling a chunk of Paramount Pictures to China’s Dalian Wanda Group would “undermine” long-term value at the Viacom-owned studio, according to National Amusements. The battle for the future of Viacom and its subsidiary Paramount reached its latest stage late last week when Viacom owner NA released a statement warning a deal would damage value for […]

Paramount sale blocked until Redstone ruling

Viacom will not be able to sell a stake in Paramount Pictures until a US judge decides on company owner Sumner Redstone’s capacity to make decisions. The potential sale of a 49% is off the table, while the Viacom board members removed by parent company National Amusements this month will actually remain in place while […]

1 2 3 4