It Was Business, It Was Personal: The Redstones' Father-Daughter Feud Key Points. New CNN Show Won't Be Political, Hosts . NAI, a closely held company, operates cinemas in the United States, the United Kingdom and Latin America and is also the controlling . Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. In an additional 14% of those S&P 100 firms, a woman was lead director another key board post. Shari Redstone's $30 Billion Triumph at CBS and Viacom - Intelligencer AT&T Inc. acquired Time Warner Inc., owner of HBO, CNN, TBS and Warner Bros. Disney in March completed its $71.3-billion takeover of much of Rupert Murdochs 21st Century Fox. When you find what you need, export results and save custom links. Redstone holds the remaining 20 percent of National Amusements through a separate trust. They shared an iron will that helped Ms. Redstone to succeed her father. She later received her J.D. ViacomCBS chairman, Shari Redstone, is now betting she can super-size the flagging brand by leveraging the decades-old Star Trek, along with other fan-favorite franchises, as the cornerstone of a service recrafted and renamed Paramount+. CBS first offered Viacom shareholders an exchange ratio of .55 a CBS share for each Viacom sharean offer worth around $11 billion today. The succession issue simmered in the background during periods of estrangement between father and daughter. Met Gala 2023 Red Carpet: See All the Fashion, Outfits & Looks, Get Him Out of Here: Donald Trump Tossed NBC Reporters Phones During Tirade Aboard Campaign Plane, How to Watch the 2023 Met Gala Live Stream. Political Affiliations of Viacom Board Could Impact CBS Case Tucker Carlson and Sean Hannity are expected to testify. CBS crisis comes to a head as Moonves and Redstone fight for - CNNMoney Forty years ago, you wouldnt be seeing people taking that kind of bet on a woman.. Redstone is the daughter of Phyllis Gloria Raphael and Sumner Redstone, and the sister of Brent Redstone. The Redstone family investment firm, National Amusements Inc., controls nearly 80% of CBS and Viacoms voting shares. Im very sure that the chairman and CEO would not allow the board of the company to be compromised by individual political agendas.. Shari Redstone Explores Plan to Launch Fox News Competitor (Exclusive) As the merger of Viacom and CBS awaits regulatory approval, a Redstone spokesperson confirms that she quietly visited President Donald Trump in the White House recently but denies any plan to launch a conservative TV network (as does a spokesperson for Viacom). At Viacom, we just dont get involved in the news division.. Sumner Redstone, originally Sumner Murray Rothstein, (born May 27, 1923, Boston, Massachusetts, U.S.died August 11, 2020, Los Angeles, California), American media executive whose company, National Amusements, Inc. (NAI), acquired leading film, television, and entertainment properties, notably Viacom and CBS. The Muscle Behind Shari Redstone's War | Vanity Fair Shari Redstone - $93,300 in Political Contributions for 2012 Sumner Redstone, who built National Amusements into a media empire, died Tuesday at 97. In 1999, another board member, investor Jan Leschly, gave $350 to a former New Jersey governor, Christine Todd Whitman, for a Senate bid. The price to earnings ratio is 7. President Trump Goes on Another Rant About a 60 Minutes Report - Adweek The feisty 61-year-old former attorney is stepping into the spotlight to exert her influence in the . offers FT membership to read for free. There's made-for-reality TV drama of Sumner Redstone romantic affairs to the behind-the-scenes politics of CBS and Viacom's boardrooms politics that as a consumer I realized affected all of us.. Why did Dan Rather think he could get away with this or stonewall it? there is nothing more to be said. imagine this as a "let me see your hands " moment for the . Theyve never gone against my wishes. In June 2014, Shari acknowledged this ongoing antipathy. He gave the maximum $2,000 to Mr. Kerry's presidential campaign and supported Vice President Gore's 2000 presidential bid as well. Those were largely symbolic moves, since his stake in the companies gave him firm command. Sun Valley 2022 Guest List Revealed - Variety Investigative reporter Ronan Farrow revealed allegations of several women who accused Moonves of sexual misconduct in the 1980s and 1990s. He just settled this one. ! and she noted that her father thinks the threat of not being allowed to go to his funeral will motivate me. In July 2015, after she met with her father in Los Angeles, she wrote Tyler that your grandfather says I will be chair over his dead body., Herzers lawsuit alleges that Shari had the nurses around her father spy on Herzer and turn Sumner against her, in an effort to eliminate her and Holland from his life. Mr. Redstone, who died on Tuesday at 97, was an old-school, expletive-spraying mogul from a time when bosses asserted their power by screaming in the workplace. Do not fill this out if you are a person. An attorney who conducts independent investigations like the one CBS ordered up yesterday said the board members have a duty to make sure the CBS brand is not tarnished, or not tarnished further. Viacom-CBS merger is Shari Redstone's victory | CNN Business In the article, they both gushed about the gifts and money they had been given. Around that time, Ms. Redstone and Mr. Redstone made peace. Shari Redstone has no plans to launch a conservative news channel to compete with Fox News, reps for the billionaire media heiress said. Daughter and father at a charity dinner in 2005. A former Verizon executive who is on Viacoms board, Frederic Salerno of Rye, could offer some solace to supporters of President Bush looking for a friendly face at Viacom. She pushed for the union, believing the two companies would be stronger together during a turbulent time. Ms. Redstone has contributed to Senator Clinton and Mr. Kerry as well as the Democratic National Committee. August 16, 2019. analyse how our Sites are used. Sumner Redstone died Tuesday at age 97, National Amusements said in a statement Wednesday. You're using Internet Explorer, some features might not work. [10], Since 1999, she has been president of National Amusements, one of the top ten movie exhibitors in the United States. In February 2017, Shari Redstone, the 62-year-old billionaire heiress and controlling shareholder of CBS and Viacom, with a honking Boston accent and a fondness for the bouffant blowout, was at. Three Highest-Paid Executives in Entertainment are Dem Donors Scarlett Johansson. This article is from the archive of The New York Sun before the launch of its new website in 2022. Shari Redstone Net Worth | Celebrity Net Worth Shari Redstone is an American media executive with a diverse history in the entertainment industry and related businesses. Advertisements How old is Shari Redstone? A period of estrangement between Shari Redstone and her combative father, Sumner Redstone, ended with a reconciliation before his death and the daughter taking over the family empire. She refocused her attention on Advancit Capital, an investment firm she co-founded in 2011. Receipts are reported periodically, according to the filer's reporting schedule. So when Dauman proposed selling Paramount to a Chinese company in early 2016, Shari Redstone dug in for a fight. Sources familiar with the pending merger of CBS and Viacom have said that majority owner Shari Redstone is eyeing a possible channel dedicated to conservative news, a move that could mean a . 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. (A judge eventually ruled in favor of Redstone.). Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. But at a minimum, given whats at stake for CBS, the board would want to be involved in this to ensure the independence and the professionalism of the investigation to be conducted, because if that doesnt happen then this asset of great value to the Viacom shareholder, meaning CBS, could be imperiled.. Herzer is seeking $100 million in compensatory damages as well as treble and punitive damages under RICO Redstone, a lawyer by training, repeatedly declined to talk about many of the battles granular details, including her dealings with Les Moonves, with whom CBS is currently involved in arbitration. Sumner Redstone's Granddaughter Says in Email: 'My Grandfather Is a She was the lead reporter for The Times coverage of the deadly Rust shooting on a New Mexico film set in 2021, work recognized by the Pulitzer Prize board as a finalist in breaking news. Paramount head Shari Redstone and CEO Bob Bakish put big energy into their announcements, touting big subscriber numbers for Paramount+, and a firehose of content into streaming. Viacom has faced headwinds in the transforming media environment as Redstone worked to wrest control from former chairman Philippe Dauman and then to push through a merger with CBS. That girlfriend, Sydney Holland, left in September 2015. Paramount chief Shari Redstone attended alongside Neeraj Khelmani, Gayle King, Norah O'Donnell, Tony Dokoupil and Nate Burleson. [5] She currently serves as the non-executive chairwoman of Paramount Global (formerly known as ViacomCBS) and president of National Amusements, and is a former vice-chairman of CBS Corporation[6] and Viacom. Shari Redstone Is Sumner Redstone's Most Important Legacy - Variety He contributed $2,000 to Mr. Kerry and has given nearly $30,000 to Democratic groups and candidates in the past six years. Who is National Amusements owned by? - TimesMojo -. Redstone, the daughter of media mogul Sumner Redstone, is chairwoman of media empire ViacomCBS. The Redstones operated more like a wolf pack, Ms. McGrath said. Compare Standard and Premium Digital here. Su padre, Sumner Redstone, la haba considerado pblicamente como una 'don nadie', que contribua. . But Redstone pre is increasingly out of the picture. Herzer sued, claiming Redstone had lost his mental capacity. He refers to himself a "liberal Democrat . Hace slo unos aos, Shari Redstone estaba al margen del imperio meditico de su familia. She just was a step behind in a lot of ways and treated poorly, this person continued. Now, the challenge will be integrating two companies that have been separate for more than a decade. /F4.1 12 0 R /F2.0 9 0 R /F3.0 10 0 R >> >> But even those may be a challengeaccording to someone who saw him recently, hes non compos mentis. (Sumners litigation attorney Rob Klieger, who just came from a visit with his client, told me he unequivocally dismisses as untrue this characterization.) Shari, meanwhile, has been pushing relentlessly to have the two companies reunited, despite the lack of a well-articulated industrial logic. Other. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI E . Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. Im not very happy right now, Judge Eric Davis told Fox News attorneys. But by the summer of 2015, those relations had frayed. . UPDATED: Cable giant Shari Redstone reportedly eyeing possible !CF`Bb3uwp#9 e_JVk|3$dN fd7)u=tncQT_v"`UguwE)U^/HICGjK>0pawBW=suLH.j}J,5l#e96 ^0a(B:@/L*0519P2a~,uV(g:`GaHv1 ^'_B^J ^FQ'?p./{3HJj$pLV.OH!Cp(P;SS@' t],;4z`V ?DNtx_%~,S)-p^pPG:WM1m8ZY:mbf@A.cW$b.04+QkJoi#iY)+6Ak"p94[f?OAbg(K{ -fMpbSf0;IS]&! Inside Shari Redstone's Twisted Plot to Breed Viacom and CBS We only need 124 gifts to meet our goal of adding 1,500 financial contributions by the end of April, support that helps keep Vox free year-round. In a December 2015 letter purported to have been sent by Sumner, according to Herzers filing, Sumner wrote that it was now his intention that Shari succeed him as non-executive chairman of both CBS and Viacom after my death. A month later, another Sumner missive to Shari surfaced. But some on CBS board were wary. 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. (One argument for the merger is that it would make CBS more global and would allow it to leverage Paramount, the movie studio, though these benefits would likely be outweighed by the drag of Viacom's cable channels.) [21] She is also on the board of directors of The National Center on Addiction and Substance Abuse (CASA) at Columbia University[41] and the John F. Kennedy Library Foundation. For cost savings, you can change your plan at any time online in the Settings & Account section. According to The Hollywood Reporter on Tuesday,. Her father, Sumner Redstone, once dismissed her publicly as a lightweight who contributed little to the business. 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. Javascript recommended: FEC.gov uses Javascript to provide the best possible user experience. In both dayparts, ABC and NBC have been locked in a relatively tight battle for No. Less than a quarter of the S&P 100 companies have a woman as their chair or a lead director, and that puts Shari in a notable position, said Dawn Belt, a partner and coauthor of Fenwick & Wests Gender Diversity Study. The future leadership falls to Sumner Redstones daughter, Shari, with whom he has had on again, off again squabbles through the years. A .gov website belongs to an official government organization in the United States. In the past six years, Mr. Redstone has given $50,000 to Democratic campaigns and party committees, according to filings with the Federal Election Commission. The only Republican candidates the Viacom chief has supported directly are Senator Hatch of Utah, whom he gave $2,000, and Senator McCain of Arizona, who got $1,000 from him. Shari Redstone continues today to send fraudulent communications purporting to be sent by Sumner, a man who cannot speak, write, read, or take care of himself, according to Herzers complaint. Please switch to another browser like Chrome, Firefox, or Edge for a better experience. In July, Mr. Freston and Mr. Moonves replaced Mel Karmazin, another prolific Democratic donor, who left the company after reportedly clashing with Mr. Redstone. She declined the role of non-executive chairman of both CBS and Viacom. Father and daughter also joined forces to fight the Viacom board, which challenged Mr. Redstones mental competency in court in 2016. %PDF-1.3 Instead, he surrounded himself with younger girlfriends and business cronies. Meg James is a senior entertainment industry writer for the Los Angeles Times. 13 0 obj Viacoms chairman and chief executive, Sumner Redstone, is a self-described liberal Democrat and a prolific donor to Democratic campaigns. As a recently released, unredacted complaint in a lawsuit against Shari makes clear, Sumner Redstone never wanted his daughter to be involved in the family businesses, twice tried to buy out her stock in the family holding company, National Amusements Inc., for around $1 billion.
