CBS and Viacom have missed their anticipated deadline for a merger deal. According to reports, the businesses had hoped to sign off on a deal in time for CBS’s quarterly earnings, set to be announced later today (8 August), but an agreement was not reached in time. The delay is due to final negotiations over […]
The CBS Corporation’s board of directors is now seeking outside counsel to conduct an independent investigation into its CEO Leslie Moonves, after he was accused of sexual harassment. CBS’ board of directors met this Monday to decide on the best way to react in response to sexual harassment claims made against its chief exec in […]
CBS shareholders have officially launched a class action lawsuit against its majority stakeholder National Amusements, investment firm of Sumner Redstone and family. The suit claims that National Amusements, now run by Redstone’s daughter Shari Redstone, has breached its fiduciary duty. Class B shareholders of CBS claim that Redstone has not acted in the company’s best […]
New Viacom CEO Bob Bakish has begun to flesh out a plan to turn the US-based media giant around after a tumultous period for the business, he revealed here at NATPE Miami yesterday. Bakish (pictured) said he is working up a plan to “put the magic” back into the company, and speaking to TBI after […]
Viacom’s worldwide entertainment arm has named Sarah Levy as its COO. Levy will oversee operations and strategy for Viacom Global Entertainment Group (VGEG)’s domestic cable channels and those networks that sit within the Viacom International Media Networks division. She has been promoted, having formerly been COO of Viacom Kids & Family Group, which was rebranded […]
Bob Bakish has been named permanent president and CEO of Viacom after the potential re-merger with CBS evaporated. Bakish has been acting CEO since November 15 after Tom Dooley stepped down from his interim post, and will now become full-time chief. The appointment came after Viacom confirmed media reports yesterday that revealed the merger with […]
The potential recombination of National Amusements subsidiaries CBS Corp. and Viacom has moved another step forward. CBS has retained banks Moelis & Co. and Goldman Sachs to advise on the possible merger, which has been on the table since Shari Redstone and her father, Sumner Redstone, took more active control of Viacom after their battle […]
CBS Corp. will only recombine with Viacom “if it looks rights and is structured properly”, according to chairman and CEO Les Moonves. Speaking on an investor call yesterday, Moonves said the currently healthy financial and creative position of CBS meant merging with Viacom, which has the same parent company, “if it is in the best […]
Viacom’s international and US channel groups are merging into a new unit that Bob Bakish will lead as interim company president and CEO. Viacom International Media Networks and domestic networks arm Viacom Music and Entertainment Group are coming together as Viacom Global Entertainment Group (VGEG). Furthermore, the Viacom Kids and Family Group, which Cyma Zarghami […]
Viacom’s international president and CEO, Bob Bakish, is set to be named interim chief executive of the wider business as the possibility of a merger with CBS is explored. Bloomberg cited unnamed sources as saying Viacom International Media Networks boss Bakish was “close” to landing the post. Current interim CEO Tom Dooley is leaving the […]
