You are here: Home » Reuters » News
Business Standard

CBS sues Redstones firm over Viacom merger


(Reuters) - CBS Corp on Monday asked a court to block controlling shareholder Shari Redstone from interfering at a special meeting of its board called to consider a merger with Viacom.The news of the lawsuit, filed to a Delaware court and also seeking to dilute the 79 percent voting rights in CBS held by Redstone's National Amusements Inc, pushed the network's shares up nearly 1 percent and those in Viacom down 6 percent.National Amusements, a privately held movie theater company owned by Sumner Redstone and his daughter Shari, own a majority of the voting shares in both companies.CBS said in ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, May 14 2018. 19:41 IST