On Wednesday, the company will hold its 2018-2019 Upfront presentation in NY.
CBS has filed a suit against National Amusements alleging breach of fiduciary duty and seeking to prevent it from interfering in a special meeting where CBS directors will consider a dividend of class A common shares to be distributed to all stockholders.
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. Redstone reportedly expressed her willingness to replace CBS directors to compel a merger with Viacom regardless of the Special Committee's process, deliberations, and conclusion'.
Today, it is the controlling shareholder of both CBS and Viacom.
Ireland should move embassy to Jerusalem, Israeli government says
Since the protests began in late March, dozens of Palestinian protestors have been killed and more than 2,300 have been wounded. There were violent clashes between Israeli police and angry protesters who raised Palestinian flags outside the new embassy.
Verizon had expressed interest in acquiring CBS before merger talks heated up with its corporate sibling Viacom, sources say.
National Amusements' Shari Redstone was reportedly pushing for Viacom CEO Bob Bakish to be installed a chief operating officer of the combined company, while CBS CEO Les Moonves reportedly wanted to keep his current COO, Joe Ianniello.
"The Special Committee has taken this step because it believes it is in the best interests of all CBS stockholders, is necessary to protect stockholders' interests and would unlock significant stockholder value", CBS said.
It added: "If consummated, the dividend would enable the company to operate as an independent, non-controlled company and more fully evaluate strategic alternatives". With Monday's Closing Bell on Wall Street, CBS shares were up $1.14 to $53.66 - their highest close since April 4.
North Korea: Donald Trump and Kim Jong-un to meet in Singapore
Pompeo says if North Korea chooses to give up its nuclear weapons , it could have a future brimming with peace and prosperity . North Korea said it will "consider releasing" six South Koreans who remain detained there, Cheong Wa Dae said Thursday.
Multiple sources say Verizon had been involved in high-level discussions with CBS a year ago.
Lawyers for CBS reveal in the filing that the board of directors plans to hold an emergency meeting on Thursday to discuss ways to dilute National Amusement's voting power moving forward.
Rihanna Shares Some Royal Wedding Night Advice For Meghan Markle & Prince Harry
If there's one thing you need to know about Rihanna , it's that she hates pointless interview questions. Seriously - we can't stop laughing and reciting the words "Okay, you met me" because Rihanna is goals.