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CBS sues controlling Redstone family in bid for independence

Reuters 

By Jessica Toonkel and Tom Hals(Reuters) - CBS Corp filed a lawsuit on Monday to reduce the voting power of controlling shareholder National Amusements Inc, the movie theater company owned by Sumner and Shari Redstone, in an act of defiance aimed at thwarting the Redstones' plan to merge CBS with Viacom Inc . CBS said in its lawsuit it is seeking to prevent the Redstones from ousting any directors or changing the company's bylaws before its full board meets on Thursday to consider issuing a dividend that would curb National Amusements' voting power.If the dividend is approved, National ...

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First Published: Tue, May 15 2018. 03:01 IST
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