Other nonlinear TV competitors include Breitbart News, The Daily Caller (co-founded by Tucker Carlson) and Salem Media Group, a publicly traded company that is considered the industry leader in talk radio, and Ben Shapiros Daily Wire. Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. Though Shari Redstone is eager to sell a combined CBS-Viacom, finding a buyer may not be easy. Earlier this decade, two women had ensconced themselves in Sumner Redstones life and he lavished them with gifts valued at $150 million. But investors are unconvinced . A CBS suit against Ms. Redstone over control of the company was dismissed in May 2018 as CBS Chief Leslie Moonves was ousted due to sexual misconduct. You can still enjoy your subscription until the end of your current billing period. After Viacom purchased Paramount Pictures in 1994, Sumner Redstone hailed the moment as his arrival in the media big leagues. He overhauled the management of the moribund Paramount and tossed out senior TV executives. All rights reserved. Shari Redstone, Sumner's daughter who was estranged from her father for much of his life but reconciled with him in his final years, effectively took over his empire in 2016 after a long,. Should Shari Redstone Flip CBS News? - Puck He has made how he feels about me perfectly clear., In September 2014, according to Herzers complaint, Sumner was briefly hospitalized, resulting in a major dispute with Shari about his treatment. Alex Ben Block. But while the respective companies boards of directors grapple with exchange ratios, fairness opinions, the amount and timing of expected synergies, and which executives will lead the re-merged company, the months of deal-related floundering mask a more profound Oedipal struggle that has been raging within the Redstone family for years: the lengths a peeved Shari Redstone is willing to go to prove that, despite the desires of her physically and mentally slipping but very much still living father, 94-year-old Sumner Redstone, she is a player in Hollywood, in New York City media circles, and is the legitimate heir to his corporate empire. Please switch to another browser like Chrome, Firefox, or Edge for a better experience. Shari Redstone shuts down rumor about conservative news channel In early 2018, Redstone again tried to get CBS to entertain the Viacom merger. Her grandfather was Michael Redstone, who was the original founder of National Amusements, the parent company that now owns the majority of the Redstone media empire. Dan Rather is obviously an important person. Redstones handpicked lieutenant, Bob Bakish, will oversee the new ViacomCBS as chief executive. None of the members of Viacoms board consented to be interviewed for this story. [1], As of January 2018, Redstone is a member of the board of directors at Combined Jewish Philanthropies and the board of trustees at Dana Farber Cancer Institute. For cost savings, you can change your plan at any time online in the Settings & Account section. She is the non-executive chairwoman of Paramount Global and the president of National Amusements; she was previously the vice-chairwoman of CBS Corporation and Viacom. CBS CEO Les Moonves was one of the 11. Sign up for THR news straight to your inbox every day. This Redstone plan for a new TV service also would have a streaming component. When the moment arrived Tuesday, she was already sitting on the throne. With the $1.6 billion Dominion lawsuit threatening to hobble Fox News, the ink on his divorce to Jerry Hall still wet, and his broken engagement to Ann Lesley Smith even fresher, its been a chaotic 12 months for the 92-year-old conservative media baron. Special committees of each board have been appointed to try to negotiate a deal. One large CBS investor, Franklin Templeton, sold its longtime stake in the network, rather than stick around to see whether Shari can force a deal to be done. Over the years, Shari Redstone would tell her tough-as-nails father that. [15] Documents have been made public which verify that, as part of a settlement from Sumner's first divorce, all of Sumner's stock is in irrevocable trusts that will be left to his grandchildren. [16], In 2010, Redstone and her partners purchased the theaters that they had built, and formed Rising Star Media,[17] of which she was chairman, and turned it into the country's top-grossing cinema chain. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. It might depend on where the stock goes over the next year or two, Matthews said. stream As private citizens, board members at Viacom and others make donations to political parties and candidates all the time, he said. Its clear hes a major donor to the Democratic Party.. All Rights Reserved. Sumner owned 80 percent of National Amusements, the family's holding company that controls around 80 percent of the voting stock in both of the aforementioned media behemoths, and Shari owned the. Sumner Redstone, billionaire media tycoon, dead at age 97 - CNBC Shari Redstone, chair of Paramount Global and president and CEO of National Amusements, will receive the Humanitarian Award at the Simon Wiesenthal Center . Shari with Sumner Redstone at the LA Friendly House Luncheon in Beverly Hills, 2012. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. The political affiliations of Viacom's board and senior management, how Sumner Murray Redstone (born Sumner Murray Rothstein; May 27, 1923) is an American media magnate.He is the majority owner and Chairman of the Board of the National Amusements theater chain. personalising content and ads, providing social media features and to Gordon Lightfoot, Canadian Singer/Songwriter, Dies at 84, Kiss Paul Stanley Says Encouraging Kids to Gender Transition is a Dangerous Fad, White House Correspondents' Association Dinner, Gayle King, April Ryan Celebrate Diverse Voices in Political Journalism During White House Correspondents Dinner Weekend, Rock Icons Aerosmith to Launch Farewell Tour, Willie Nelson Turns 90: Keith Richards Joins Hollywood Bowl Bash, Jock Zonfrillo, Chef and MasterChef Australia Judge, Dies at 46, The Best Gifts for Women Who Love Fashion, Beauty, Tech and More, Channel Your Inner Queen Charlotte with This Star-Loved British Brands Exclusive Skincare Kit, Naomi Watts Just Wore These Under-$100 PJs from Two Star-Loved Brands And Theyre the Perfect Mothers Day Gift for Stylish Travelers, The Best Signet Rings for Adding a Red Carpet-Ready Touch to Your Jewelry Stack, Everyone Is Just Scrambling: Hollywood on Edge as Writers Guild Talks Go Down to the Wire, Succession Director on Filming That Surprise Cameo and Tying Up Her Kendall Trilogy, James Gunns Guardians: How Chris Pratt and His Marvel Castmates Rescued Their Directors Career, The Definitive Voice of Entertainment News. In more than 50 years as a force in the media industry, Sumner M. Redstone clashed with his only son, his nephew, his wife, his romantic partners, his business rivals and the actor Tom Cruise. << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /F1.0 8 0 R

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