CBS revolts against Redstone, sues to stop Viacom deal
Posted in: UncategorizedCBS Corp. has sued to block a possible move by billionaire Sumner Redstone’s daughter to oust some of the network’s directors before they can consider a dividend that would lessen the Redstones’ control of the company.
CBS officials said in a lawsuit that Shari Redstone, a current director, has threatened to remove some of her colleagues to facilitate a combination between the network and National Amusements Inc., Redstone’s company that owns Viacom.
“Ms. Redstone has acted to undermine the management team, including, without board authority, talking to potential CEO replacements, deriding the chief operating officer and threatening to change the board,” CBS officials said in the suit, filed Monday in Delaware Chancery Court.