CBS and the Redstones may want to book Judge Judy

Courting Sumner Redstone and his daughter Shari are being sued by CBS Corporation for trying to push through a merger with Viacom that was rejected by the board

On Wednesday, the company will hold its 2018-2019 Upfront presentation in NY.

CBS Corp. essentially declared war on Shari Redstone on Monday, filing a lawsuit meant to thwart her effort to push through a merger of CBS and Viacom Inc.

The two companies previously explored a merger in 2016 at the urging of Shari and Sumner Redstone, who believe a deal is needed for the two smaller media companies to compete with growing internet powers Netflix Inc and Amazon.com pushing deeper into the media business.

CBS's lawsuit said Redstone rejected an approach by an unnamed potential acquirer of CBS, citing that as another reason her interests are not aligned with other CBS shareholders.

It also wants to dilute the shareholdings of NAI, which has voting control at both CBS and Viacom.

CBS does not want to be weighed down by Viacom's struggling cable channels.

Title Match Confirmed For WWE Raw This Week
Reigns cuts a promo and issues a challenge to Jinder Mahal but RAW General Manager Kurt Angle interrupts. Sami reveals that he is bringing Lashley's sister to next week's RAW to expose him.

Off-Duty Cop Saves The Day During Mother's Day Celebration In Brazil
Ms Sastre, 42, pulled her service weapon out of her handbag as Elivelton Neves Moreira attempted to snatch a mother's bag. She shoots, the boy shoots, the boy tries to shoot at her leg", Brazilian public security secretary Maggie Alves said.

PNB scam: CBI chargesheet names bank ex-chief, details Nirav Modi's role
The Rs 13,400 crore PNB scam involving Nirav Modi made headlines and exposed the corruption within state-owned banks. At present, the PNB board meet is underway and the government will hear more about the outcome on the case soon.

Today, it is the talk of Wall Street, thanks to the filing of a lawsuit in DE by CBS Corp. and its Special Committee of its Board of Directors alleging breaches of fiduciary duty by National Amusements Inc. - the Shari Redstone-controlled entity that controls CBS and Viacom and wants the companies to recombine.

Verizon had expressed interest in acquiring CBS before merger talks heated up with its corporate sibling Viacom, sources say. "If consummated, the dividend would enable the company to operate as an independent, non-controlled company and more fully evaluate strategic alternatives".

Mid-Monday morning trading of CBS stock was up 1.2% to $53.23; Viacom was down 7% to $28.15.

News of the lawsuit sent CBS shares up almost 3 percent and Viacom shares down more than 6 percent.

Multiple sources say Verizon had been involved in high-level discussions with CBS previous year.

National Amusements called the lawsuit "outrageous" and said that it disputes CBS' "characterization of recent events.We intend to defend our position vigorously and look forward to presenting our arguments in court".

Related News:



Most liked

With any luck, Tiger Woods can be the next Webb Simpson
The killer instinct is still missing, just as it was in the Valspar Championship in early March , when he was runner-up to Casey. It may seem an impossible task, but Lee could apply pressure on Simpson with a 4- or 5-under round Sunday.

Iran's Presence In Syria May Tempt EU-3 To Leave JCPOA
Iranian state television reported that Zarif will first stop in Beijing and then in Moscow before heading to Europe. Le Maire revealed he had called U.S.

Xaar plc (LON:XAR) has analysts on the Bullish side this week
The stock increased 0.47% or GBX 16 during the last trading session, touching GBX 3396.BGEO Group plc has volume of 2,585 shares. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock.

Guillermo del Toro Horror Anthology Series '10 After Midnight' Ordered By Netflix
The Guillermo del Toro Presents 10 After Midnight series marks Netflix's first original horror anthology series. Del Toro will also handpick a team of writers and filmmakers from the genre to oversee the other installments.

Nanny gets life in prison without parole for killing 2 children
A jury in April found her guilty of murdering both children, which is punishable by a maximum sentence of life in prison. Ortega was to have dropped off Lucia at her dance class, and Krim was to pick her up.

Europe Moves to Save Its Interests in Iran after US Withdrawal
Trump may also have been emboldened to act more punitively against Iran because it lacks North Korea's powerful intermediaries. President Donald Trump made the correct decision Tuesday in withdrawing USA participation from the Iran nuclear deal.

Derby County Drop Matej Vydra For Crunch Championship Play-Off Clash With Fulham
Second half goals from Ryan Sessegnon and Denis Odoi earned Fulham the victory as they seek a return to the Premier League which they were relegated from in 2014.

Top Israeli Soccer Team Renames Itself in Honor of Donald Trump
By late afternoon, at least 52 Palestinians, including five minors, were killed , the Gaza Health Ministry said. Over 35,000 protesters marched towards the border fence, coming within several hundred metres.

Pennsylvania's Primary: Congressional Races to Watch
Democratic voters can vote for up to four male candidates and up to four female candidates for the state Democratic Committee. For the Democratic Party, the only office to be decided on the runoff ballot is the statewide race for Governor .

Rihanna shoots down royal wedding invite query
When the Wild Thoughts singer said she wasn't aware it was coming up, the reporter continued to ask if she had received an invite. Rihanna , who is now dating Saudi billionaire Hassan Jameel, also gave the royal couple some sound advice for their honeymoon.

Watch The Trailer For BlacKkKlansman Starring John David Washington…Denzel's Son
Based on a true story, the joint follows an African-American police officer who goes undercover in the Ku Klux Klan. BlacKkKlansman is set for release on August 10th in the United States and on August 24th in the UK.

Adams Express Company Increases Holding in Wells Fargo & Company
Shayne & Co increased its stake in Wells Fargo Co New ( WFC ) by 88.94% based on its latest 2017Q4 regulatory filing with the SEC. In related news, Director Ronald Sargent bought 9,000 shares of the company's stock in a transaction dated Monday, February 12th.

Oil prices fall from highs on supply hopes
Rallying a collective response is doable, they claim, since the Iran deal is one the few areas European Union members agree on. The deal allowed Iran to reconnect the machines and eventually build an industrial-scale enrichment program starting in 2025.

'Britain committed to Iran nuclear deal'
The decision overturned years of painstaking diplomacy and left European allies scrambling to save the hard-fought deal. As a private citizen, Bolton in the past has suggested that the United States push for a change in Iran's government.

Dozens of Palestinians killed as new US embassy opens in Jerusalem
He added that the Palestinians protesting in Gaza were "part of the problem, and not part of the solution". Trump has done is destroy the role of the United States as an honest broker", Shaath said.