sumner-redstone

Sumner Redstone to step down from Viacom board

Controlling shareholder Sumner Redstone will step down from the Viacom board of directors after the company's annual meeting in February, according to a company filing on Friday. The ailing, 93-year old Redstone, who has not attended an annual investor meeting since 2014, will continue to participate in meetings in a “non-voting” role, according to the filing. It was Redstone's decision to step down, according to a source familiar with the situation, who did not want to be named because discussions were private.

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Sumner Redstone to step down from Viacom board

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Sumner Redstone moves to oust five Viacom directors including CEO from board

By Jessica Toonkel and Dan Levine NEW YORK/SAN FRANCISCO (Reuters) – Sumner Redstone removed five of Viacom Inc's directors, including Chief Executive Philippe Dauman, from the board of the media company he controls on Thursday, a big step toward a potential management shake-up of the almost $20 billion…

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Sumner Redstone moves to oust five Viacom directors including CEO from board

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Media mogul Redstone says he ‘no longer trusts’ Viacom CEO

Sumner Redstone said he “no longer trusts” Viacom Inc's board or Chief Executive Philippe Dauman to act in the media company's best interests, according to a spokesman for the 93-year-old mogul. The comments from Redstone, the controlling shareholder of Viacom and CBS Corp , are the latest…

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Media mogul Redstone says he ‘no longer trusts’ Viacom CEO

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Judge says needs time to rule on date of Sumner Redstone competence trial

The battle over control of Sumner Redstone’s $40 billion media empire moved to a Massachusetts courtroom on Tuesday, where a state judge said he needed time to decide whether to move up the date of a trial questioning the 93-year-old’s mental competence. Probate and Family…

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Judge says needs time to rule on date of Sumner Redstone competence trial

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Redstone’s granddaughter says she backs Viacom’s directors

The independent directors have questioned Sumner Redstone's mental competence, and said they will legally contest any move by his purported representatives to remove them from Viacom's board. “I will soon be announcing legal steps to join with the Viacom directors in our common cause to liberate my grandfather from Shari's clutches and protect my fellow trust beneficiaries and myself …

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Redstone’s granddaughter says she backs Viacom’s directors

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Creditors of Puerto Rico government bank revive lawsuit over debt moratorium

By Nick Brown SAN JUAN (Reuters) – Hedge funds who own debt at Puerto Rico's Government Development Bank are accusing the bank and the island's governor of giving preferential treatment to local creditors under a law designed to restructure GDB's debt, signaling a breakdown in a tentative restructuring deal the sides reached earlier this month. A bondholder group that includes hedge funds Brigade, Claren Road and Fir Tree updated an existing lawsuit against the bank and Governor Alejandro Garcia Padilla late Friday…

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Creditors of Puerto Rico government bank revive lawsuit over debt moratorium

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Viacom says its board has not had access to Redstone

Viacom Inc said on Saturday its board members have been unable to meet with controlling shareholder Sumner Redstone because his daughter Shari is blocking access to the media mogul. Viacom's criticism of Shari Redstone comes a day

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Viacom says its board has not had access to Redstone

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Sumner Redstone has power to remove Viacom CEO from his trust

Sumner Redstone has the power to remove Viacom Inc Chief Executive Philippe Dauman, but not his daughter Shari, from the trust that will control his $40 billion media empire after his incapacitation or death, according to two sources familiar with the matter. There is no evidence that Sumner Redstone is considering replacing Dauman. Shari Redstone, who sits on Viacom's board, voted against Dauman's elevation to executive …

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Sumner Redstone has power to remove Viacom CEO from his trust

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Sumner Redstone has power to remove Viacom CEO from his trust

Sumner Redstone has the power to remove Viacom Inc Chief Executive Philippe Dauman, but not his daughter Shari, from the trust that will control his $40 billion media empire after his incapacitation or death, according to two sources familiar with the matter. There is no evidence that Sumner Redstone is considering replacing Dauman. Shari Redstone, who sits on Viacom's board, voted against Dauman's elevation to executive chairman of Viacom to replace her father in February, arguing that a member of the Redstone trust should not …

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Sumner Redstone has power to remove Viacom CEO from his trust

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Sumner Redstone trial should be open to public: tentative ruling

By Lisa Richwine LOS ANGELES (Reuters) – The trial over media mogul Sumner Redstone's healthcare directive should be open to the public, a California judge said in a tentative ruling …

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Sumner Redstone trial should be open to public: tentative ruling

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