Shareholder Suit Shakes CBS Ground Under Shari Redstone


On Tuesday, RBR+TVBR ran a story on the latest flare-up between National Amusements Inc. President & CBS Vice Chairwoman Shari Redstone, and CBS CEO Leslie Moonves. According to the Hollywood Reporter, things just got hotter for Redstone. It appears her other flank is now under attack, this time from CBS shareholders. In a deft move in the ongoing saga, a special committee of CBS’ board of directors has voted to dilute NAI’s voting stake by issuing a dividend. Redstone has shot back that the vote is invalid because the company’s bylaws have been amended. CBS demurs. So it’s another mess for the courts to sort out.

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