The lawsuit filed Monday accuses Ms. Redstone of breaching her fiduciary duty to CBS shareholders by pressing for a merger of the companies against the wishes of CBS board members.
Redstone reportedly wanted Viacom's CEO Bob Bakish to take the reigns as COO of a combined Viacom-CBS, while Moonves was pushing for current COO, Joe Ianniello. The dividend would not dilute the economic interests of any CBS stockholder, ' states the release.
Redstone, daughter of retired Viacom mogul Sumner Redstone, wants CBS and sister media company Viacom to merge - a move that CBSCEO Leslie Moonves and the CBS board of directors have had reservations about.
National Amusements controls a similar share of the vote at Viacom.
The CBS board is considering issuing a dividend from Class A stock to shareholders across Classes A and B to dilute National Amusements' voting interest from 79 percent to about 17 percent.
The lawsuit was pre-emptive, CBS said, because Ms. Redstone had considered replacing CBS's board if it continued to resist a merger with Viacom.
Viacom and CBS first split in 2006, and the recent lawsuit comes after months of talks between the two about a potential remerger. Viacom's investors would receive 0.6135 CBS shares for each Viacom share they own, according to a person familiar with the matter who was not authorized to discuss the negotiations.
The Redstone family booted Viacom CEO Philippe Dauman off the board along with four other directors so the controlling shareholder could change Viacom's management, which the Redstones blamed for the company's declining stock price at the time.
CBS accused Redstone of interfering with the CBS board nomination process, of undermining CBS' management team and blocking another unnamed acquisition partner from pursuing a deal with CBS.
National Amusements says it is "outraged" and has no intention of forcing a deal not supported by both companies. After a year and a half of resisting National Amusements's entreaties to pair up the businesses, CBS made a decision to challenge its controlling shareholder - a move that could give its leadership greater power to merge with other companies.
To begin with, Sasha Baron Cohen was supposed to play Mercury, but he stepped down due to "creative differences". After a year in the role, Singer was sacked for behavioural reason, and Dexter Fletcher resumed the post .
Smith gave up a leadoff home run to Khris Davis in the top of the eighth inning, which extended the Athletics' lead to 6-4. There is now no timetable for Smith's recovery, but Dombrowski said, "It's got the potential of being a major injury".
The supported languages are: Portuguese (Latin American), French, Italian, German, Spanish (Latin American), and English. Also, it would not be the first time Microsoft has worked for the gamers with accessibility considerations.
Mohammad Javad Zarif and senior Chinese officials hailed the "strategic partnership" between their countries. I think getting out of the deal says to Iran, those happy days are over, from the USA perspective.
The network has handed out an abbreviated 13-episode sixth season renewal to Marvel's Clark Gregg drama to Agents of SHIELD . Today during a press call, ABC President Channing Dungey confirmed that Season 6 will air its 13-episode run in Summer 2019.
The Rapid City Area School Board approved the preliminary budget for next school year on Monday night at about $221 million. The board would consist of three members of the School Board , two members of the City Council and the Mayor.
The momentum of successive weeks will then culminate in a mass rally of solidarity in Washington, D.C. on June 23. It says the two were among protesters arrested after standing in the middle of a street.
Both Niall O'Brien and William Porterfield should have been run out before Pakistan captain Sarfraz Ahmed finally turned to Amir. Boyd Rankin and Tyrone Kane inside edged Abbas's incoming deliveries on to the stumps to hand the pacer his second Test fifer.
Newcastle's Jonjo Shelvey has performed well recently but last donned the Three Lions in November 2015. Joe Hart will be left at home by Southgate following a disappointing campaign on loan at West Ham.
Jay-Z Working On New Prince Album For TIDAL
The family wishes through its investigation to shed light on this epidemic and how to better the fight to save lives. Since Prince's passing we've seen a reissue of Purple Rain and a greatest hits compilation.
'Complicación benigna' manda al hospital a Melania
Al parecer, Melania Trump padecía un problema renal que la llevará a permanecer hospitalizada durante al menos una semana. Diez años antes, en 1977, Rosalynn Carter tuvo que operarse para la extirpación de un tumor benigno en el pecho.
NASA Sending Tiny Helicopter to Fly over Mars in 2021
NASA's Launch Services Program, based at the agency's Kennedy Space Center in Florida, is responsible for launch management. Thus far, all our explorations of Mars have taken place from space or on the surface with rovers .