Philippe Dauman

Viacom corporate crisis weighs on confidence

Moody’s has said the outlook for Viacom is now negative, citing weak results and an “unprecedented corporate governance crisis”. The influential credit ratings agency further warned that the media giant’s rating could be downgraded if the decline in its performance is not arrested, and the company continues to make “ill afforded dividend payments in the […]

Dauman, Redstones set for Viacom court battle

The fight for control of Sumner Redstone’s Viacom is headed for a court case. A Massachusetts court has ruled that Viacom CEO Philippe Dauman (pictured) and lead board director George Abrams can make their case against parent company National Amusements during a trial in October. A judge denied a motion taken to strike the suit, […]

Viacom, NA clash over Paramount sale plan

Selling a chunk of Paramount Pictures to China’s Dalian Wanda Group would “undermine” long-term value at the Viacom-owned studio, according to National Amusements. The battle for the future of Viacom and its subsidiary Paramount reached its latest stage late last week when Viacom owner NA released a statement warning a deal would damage value for […]

National Amusements slams ‘vicious’ Viacom attacks

National Amusements has branded members of Viacom’s board “antagonistic” and “vicious” as the battle for the future of the US media giant rages on in public. A letter distributed to press said it regarded actions recently dismissed Viacom board members, including Philippe Dauman, as “antagonistic to the interests” of the company, and that even if […]

Redstone fury at Viacom paying Dauman costs

The parent company of Viacom has reacted furiously after the media giant revealed it would use corporate cash to finance legal and PR costs for under-fire CEO Philippe Dauman. Last week, Viacom made an SEC filing that revealed Viacom would foot the bill for costs accrued as Dauman and the rest of the axed Viacom board […]

Dauman axed from Viacom board

Viacom’s chief executive, Philippe Dauman, is one of five directors axed from the media giant’s board by parent company National Amusements. Five new directors have been elected to the board to replace those chopped, who comprise Dauman (pictured), George Abrams, Blythe McGarvie, Frederic Salerno and William Schwartz. Dauman does remain CEO for the time being, […]

Freston wades into Viacom boardroom drama

Former Viacom CEO Tom Freston has attacked Philippe Dauman, claiming his successor is the wrong person to turn the media giant’ fortunes around. Speaking on CNBC yesterday, Freston said Viacom should be run by a person that’s steeped in the popular culture with young audiences, the person who owns that chair should be somebody who […]

Paramount sale ‘progressing’ despite Redstone row

Viacom chairman and CEO Philippe Dauman has said his plan to sell a minority stake in film arm Paramount Pictures remains on track, despite the recent boardroom battles. Dauman’s future has looked increasingly unclear as the Redstone camp, which controls Viacom through National Amusements, has attempted to dampen his power through a series of legal […]

Doctor: Redstone retains ‘legal mental capacity’

Sumner Redstone’s camp has released a statement that claims a renowned psychiatrist has confirmed the media mogul to be mentally capable of overseeing his empire. Dr. James E. Spar, professor at the David Geffen School of Medicine at UCLA, concluded 93-year-old Redstone “retains the legal mental capacity” to have cut Viacom CEO Philippe Dauman and […]

Shari Redstone ‘does not want to run Viacom’

The bitter dispute between the Redstones and several directors of Viacom is rumbling on, with Shari Redstone, daughter of Sumner, stating she does not want to run the media giant. In the latest salvo in the battle for control of Viacom, Shari Redstone’s team issued a statement that said the mogul’s daughter “has made it abundantly […]