CBS v. Viacom Lawsuit Pits Icons Redstone Against Moonves, Will Les Moonves End Up Out Of A Job?

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Les Moonves is putting his final stand against Sherry Redstone in the hands of a judge. When this titanic showdown is over, Les will be a lot richer, but he may not be employed.
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Shari Redstone is ready to battle tough guy Moonves, and he’s preparing for the battle of his career. The Redstones’ National Amusements holding company says it “strongly disagrees” with the CBS interpretation of the provision in question and that there never was any intention of forcing a merger.

 

Clearly Shari disdains any suggestion that her now-ailing father meant to stop her ascension.  While certainly Sumner did not always express a fond parent’s faith in his daughter’s ability to succeed him, she takes the position that Sumner supported her in 2005 when the companies were split and supports her today.

 

When Shari seized control of Viacom in 2016, then-chairman Philippe Dauman did not attempt to invoke the so-called “nuclear option,” choosing instead to take a very large check (about $72 million) to go away. But to many observers, Dauman had long appeared to be phoning it in and stashing the cash while Viacom drifted deeper and deeper into difficulty as its cable channels (MTV, Nickelodeon) and Paramount studio faltered and the media landscape changed.

 

 

 Moonves, who made $69.3 million in 2017 is however no shrinking violet, and the battle will go down very soon.  Not taking sides here, but my money’s on Shari Redstone taking out Les Moonves, but Les Moonves walking away with hundreds of millions to exit.

Written By: Tommy Lightfoot Garrett
Photographs are Courtesy:  CBS
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