Home / Business / Shari Redstone and Leslie Moonves play roles in a corporate war

Shari Redstone and Leslie Moonves play roles in a corporate war

In a statement issued later, National Amusements said it "has no intention of forcing a merger that is not compatible with both CBS and Viacom." Today's board vote, although drafted as an effort to avoid such a transaction, was pure pretext. CBS management and the special committee can not dismiss the reality that CBS has a controlling shareholder. "

CBS rejected that opinion, saying in a press release after the meeting:" The board of directors has taken this step because it believes it is for the benefit of all CBS shareholders, it is necessary to protect the interests of shareholders and unlock significant value for shareholders. "

CBS's decision to file a lawsuit against Ms. Redstone on Monday She was a salvo in her effort to block her and she achieved her ambition to reunite the two companies, which had been one and the same from 2000 to 2006. That lawsuit ended in a loss for Mr. Moonves. pages of Chancellor Andre G. Bouchard of the Delaware Chancery Court left an open door for CBS to challenge any further action by its principal shareholder.

Earlier in the week, s the judge was considering In the lawsuit, Mr. Moonves was playing his role as gregarious executive of the network until the end: on Tuesday he attended a dinner hosted by the talent agency WME at Peter Luger, the restaurant specialized in meat from Brooklyn On Wednesday, at the annual network presentation for advertisers, he stood on stage at Carnegie Hall, enjoying the applause before mentioning his plight with the expert moment of a night presenter: "So, how has it been? your week? "- to a laugh.

At the network-free party after the event, held in large rooms on four floors of the Plaza Hotel, Mr. Moonves sat on a sofa in the company of his wife, presenter and television host Julie Chen , when the talent stopped to kiss the ring.

Despite such trappings, which go along with an annual salary package of $ 69.3 million, Mr. Moonves may not be able to run CBS in a way that goes against the wishes of his principal shareholder. Since 1999, Mrs. Redstone has served as president and director of her father's company, and her role has expanded recently, now that Redstone is in poor health, under the supervision of assistants at her $ 20 million mansion in Beverly Hills, California. Since February of last year, Mrs. Redstone has been the official director of National Amusements, taking control of the patriarch who once boasted that she would never die.

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