An Ohio health care executive who sits on the Viacom board, Robert Walter, has supported Republicans from his home state. Two other members of the board, Joseph Califano and William Cohen, held cabinet posts under Democratic presidents. As private citizens, board members at Viacom and others make donations to political parties and candidates all the time, he said. Shari Redstone Political Contributions in 2012. She previously wrote for the Miami Herald and the Palm Beach Post. 1050 First Street, NE By Todd Williamson/Invision/AP/REX/Shutterstock. People underestimated her, but shes proven that shes obtained a lot of her fathers characteristics.. Shari has definitely proven herself as an effective strategist, someone who is willing to go to whatever lengths she needs to get something done, said Jordan Matthews, an entertainment attorney with Weinberg Gonser in Los Angeles. [21], On February 3, 2016, her father resigned as CBS executive chairman after questions arose about his mental competency. [10], Since 1999, she has been president of National Amusements, one of the top ten movie exhibitors in the United States. Hace slo unos aos, Shari Redstone estaba al margen del imperio meditico de su familia. The Muscle Behind Shari Redstone's War | Vanity Fair Look at totals and trends, and see how candidates and committees raise and spend money. Talks were ongoing but collapsed when CBS management feared that she was trying to remove Moonves allies on the board. Also known as a campaign committee. endobj The two-year period in which the transaction was reported. Moonves, on the other hand, supports his handpicked successor Joseph Ianniello. Key Points. university xMHa$T&R+SeL b}wg-E"u.VDNC:DuE^";cT03y| URcE4`vztLUF\)s:k-iYj6|vP4*wd>,y4!7CN-lCTS3q";-E#+c> v=S79@`mvUl5`P=Gj)kP*}6 ~^/~.~a2 For the past couple of decades, when media exec Shari Redstone came home, she'd relax in a sprawling mansion in Westwood, MA. According to a court filing from Sumners former girlfriend Manuela Herzer, Brent Redstone has not spoken to his father since Sumner bought out his stake in National Amusements in 2006 for $250 million. Redstone runs an incredibly outstanding organization, Mr. Feldberg said. Viacoms critics say Mr. Redstone, 80, who has been at the helm of Viacom for nearly two decades, set a liberal course that led to the document debacle. While Fox News dominates in ratings and distribution, the conservative landscape includes One America News Network (which received praise from Trump on Twitter on Thursday) along with Newsmax TV and Glenn Becks Blaze Media, both of which are on Dish Network. As a condition of the September 2018 settlement, she agreed to not try to orchestrate a merger with Viacom for at least two years. Fox's best efforts to keep the 92-year-old media moguland his son Lachlan off the stand appear to be faltering, with the judge saying he wouldn't stand in the way of Dominion subpoenaing the Murdochs. Ms. Redstone holds the remaining 20 percent of National Amusements through a separate trust. EVER!! [21] She is also on the board of directors of The National Center on Addiction and Substance Abuse (CASA) at Columbia University[41] and the John F. Kennedy Library Foundation. and other data for a number of reasons, such as keeping FT Sites reliable and secure, . A native of Wyoming, she is a graduate of the University of Colorado and Columbia University. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. The Viacom-CBS dust has settled. But who is Shari Redstone? - Los Things were rough before the coronavirus hit. But on Tuesday the boards of CBS and Viacom agreed to reunite the two Redstone-controlled companies that were torn apart 13 years ago. Gun rights advocates ask Supreme Court to block Illinois assault - CNN Shari Redstone - Wikipedia << /Length 5 0 R /Filter /FlateDecode >> 48, No. Shari Redstone, Sumner's daughter who was estranged from her father for much of his life but reconciled with him in his final years, effectively took over his empire in 2016 after a long,. Shari Redstone shuts down rumor about conservative news channel Redstone's father, Michael (Mickey), was a liquor wholesaler, nightclub owner . In February 2017, Shari Redstone, the 62-year-old billionaire heiress and controlling shareholder of CBS and Viacom, with a honking Boston accent and a fondness for the bouffant blowout, was at. CBS and Viacom were a single entity, after all, until Sumner Redstone separated them 12 years ago after he realized they operated in very different businesses. She graduated with a Bachelor of Science from Tufts University in 1975. An attorney who conducts independent investigations like the one CBS ordered up yesterday said the board members have a duty to make sure the CBS brand is not tarnished, or not tarnished further. It must be remembered that I gave my children their stock; and it is I, with little or no contribution on their part, who built these great media companies with the help of the boards of both companies. He continued in his interview with Forbes: If she insists on trying to succeed me, theres no question the boards will do what I ask them. Sumner Redstone built his empire from a small regional chain of movie theaters. This article is from the archive of The New York Sun before the launch of its new website in 2022. The two sides remain far apart on price, terms and, in particular, governance issues. Mr. Redstone had not been incorrect in perceiving, way back in 1983, that video games would be a significant part of the entertainment industrys future. Will Newly-Merged ViacomCBS Boldly Go After Other Media Assets? Shari Redstone is a well-known American media executive who comes from a Redstone family that has a huge stake in the media industry in America. (One argument for the merger is that it would make CBS more global and would allow it to leverage Paramount, the movie studio, though these benefits would likely be outweighed by the drag of Viacom's cable channels.) Herzers lawsuit plunged National Amusements and Viacom into turmoil. Sign up for THR news straight to your inbox every day. His daughter, Shari Redstone, has effectively controlled Viacom and CBS for several years as Sumner Redstone has dealt with healthRead More Meanwhile, non-Redstone CBS investors dont like the deal one bit. [30] In January 2021, a Delaware judge said former CBS shareholders could sue Shari Redstone for pressuring the company to enter the merger,[31] and in 2022, Redstone and Viacom sued a group of insurers for refusing to cover legal bills incurred by the court battle. VIAC Stock Is Only Worth Buying on the Chance the Real Owner Sells Viacom's Pluto TV has launched a new conservative channel, but Shari Theyve never gone against my wishes. In June 2014, Shari acknowledged this ongoing antipathy. Judge Joseph Slights had ruled in February that shareholders could pursue their claims, saying doubts about the fairness of the merger process are reasonable. At Viacom, we just dont get involved in the news division.. [5] She currently serves as the non-executive chairwoman of Paramount Global (formerly known as ViacomCBS) and president of National Amusements, and is a former vice-chairman of CBS Corporation[6] and Viacom. CBS CEO Les Moonves was one of the 11. Donor Lookup OpenSecrets Media observers wonder whether Redstone will position ViacomCBS Inc. for a sale or if she will tighten her grip. All rights reserved. But in an e-mail to her children, she wrote that she would not sign the releases against the whores who will be grieving his loss . personalising content and ads, providing social media features and to You can only have so many alphas in one room, she said. Mr. Freston is a regular presence at Democratic fund-raising events in New York. After years of battle, Shari Redstone runs an empire of her own with They also shared an iron will that helped Ms. Redstone to succeed her father as the leader of the family empire. All three are involved with National Amusements. At the height of the conflict when the patriarch was well into his 80s and still a Hollywood force Mr. Redstone tried to buy out his daughter and publicly stated that she was not qualified to lead National Amusements, the parent company of Viacom and CBS, which he had inherited from his father and built into a giant. Popular term for a political committee that is neither a candidates authorized committee nor a party committee. What seems to be driving Shari Redstone is familial score-settling, a quest for victory over her father, who never wanted her to have a role in either Viacom or CBS. You may occasionally receive promotional content from the Los Angeles Times. Receipts are updated as theyre processed that time can vary. But Redstone pre is increasingly out of the picture. Moonves erroneously blamed Redstone's daughter Shari, the CBS vice chairman and an increasingly powerful corporate rival, for his mushrooming PR troubles, and met, texted and socialized again . Redstone built his family's drive-in theater chain into a multibillion-dollar empire . But while the respective companies boards of directors grapple with exchange ratios, fairness opinions, the amount and timing of expected synergies, and which executives will lead the re-merged company, the months of deal-related floundering mask a more profound Oedipal struggle that has been raging within the Redstone family for years: the lengths a peeved Shari Redstone is willing to go to prove that, despite the desires of her physically and mentally slipping but very much still living father, 94-year-old Sumner Redstone, she is a player in Hollywood, in New York City media circles, and is the legitimate heir to his corporate empire. Redstone, as board chair, joins an elite group of women. Shari Redstones appointment to lead the remerged Viacom and CBS was unexpected by almost anyone who has followed the battles within this family media business. In early 2018, Redstone again tried to get CBS to entertain the Viacom merger. Eleven of the 14 board members supported a proposal to issue a dividend that would dilute Shari Redstone's controlling stake in the broadcaster. [11] Redstone has expanded the company's international footprint and its exploration of new technologies. Over a 25-year period, he poured more than $500 million into Midway. So when Dauman proposed selling Paramount to a Chinese company in early 2016, Shari Redstone dug in for a fight. Its awesome. In both dayparts, ABC and NBC have been locked in a relatively tight battle for No. CBS-Viacom Made Shari Redstone the Most Powerful Woman in Town Before she joined the family business, Ms. Redstone went to law school at Boston University, got married, raised three children, baked cookies and worked as a criminal defense lawyer at a small Boston firm. Days before trial is set to begin, Dominion has been granted permission to conduct additional depositions. Both were lawyers before they embarked on second careers in media, and their fine-print skills served them well as they worked out multibillion-dollar agreements on era-defining mergers and acquisitions. The future of Viacom and its film studio, Paramount, hinge on the battle between Shari Redstone and Philippe Dauman for control of Sumner Redstones trust, (Photo credit by Frazer Harrison/Getty Images) In a Los Angeles court today, a judge dismissed the lawsuit that challenged billionaire Sumner Redstone's mental capacity to make healthcare decisions. In 2020, Redstone was named on Time's list of the 100 most influential people in the world,[8] and in 2022, to Forbes' list of the World's 100 Most Powerful Women.[9]. He just settled this one. Shari Ellin Redstone (born April 14, 1954) is an American media executive. Redstone herself has agitated for an even bolder streaming strategy through Paramount Plus, the company's flagship streaming service, according to company insiders. So far, Sharis latest effort to force the merger of CBS and Viacomboth of which Sumner still controls through his voting shareshas cost the Redstone family some $600 million, and CBSs other shareholders another $6.5 billion, as the price of the networks stock has sunk from around $70 a share to around $50 as investors anticipate a deal. April 21, 2023 4:53pm. The top three on the list are all Democratic donors. stream Subscribe for full access to The Hollywood Reporter. Shari Redstone Political Contributions in 2016. When you find what you need, export results and save custom links. Advertisements How old is Shari Redstone? Paramount chief Shari Redstone attended alongside Neeraj Khelmani, Gayle King, Norah O'Donnell, Tony Dokoupil and Nate Burleson. Shari is now vice chairman of the boards of both CBS and Viacom and the president of National Amusements. The merger will reunite the companies Sumner Redstone broke apart in 2006 and create a company with more than $28 billion in revenue to better compete with the entertainment world's behemoths. All Rights Reserved. Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and Stay informed and spot emerging risks and opportunities with independent global reporting, expert [23] In 2016, Redstone, who at the time was vice chairperson of CBS and Viacom and president of National Amusements (the controlling shareholder of CBS and Viacom), gave the following statement on succession: "my father's Trust states his intention that I succeed him as (non-executive) Chairman at CBS and Viacom, and also names me as a Trustee after his death." How #MeToo and boardroom politics collided with the Redstone media empire [15] Documents have been made public which verify that, as part of a settlement from Sumner's first divorce, all of Sumner's stock is in irrevocable trusts that will be left to his grandchildren. A rep for Kelly declined to comment. The board needs to be involved, so to speak, prophylactically, a business ethics specialist at the Conference Board, Ronald Berenbeim, said. Roy Wood Jr. Roasts POTUS, VP Harris "Scandal," Tucker Carlson & "A* Hes part of the brand, said the lawyer, Jeffrey Kaplan of Skillman, N.J. A boards duty in this situation is somewhat uncertain because the facts are so unique. that brings together some of the most influential people in Hollywood to honor individuals who have made significant contributions to the entertainment industry and to society as a whole. Redstone plays her personal politics close to the vest but shortly after Trumps election shetoldTHR, Hes always been very good to me and a tremendous supporter of me personally.. You look at Sumner Redstones political contributions, said Cliff Kincaid of the conservative press watchdog group Accuracy in Media. There's made-for-reality TV drama of Sumner Redstone romantic affairs to the behind-the-scenes politics of CBS and Viacom's boardrooms politics that as a consumer I realized affected all of us.. We need more women in leadership positions.. Will Shari Redstone Find A Buyer For A Combined CBS-Viacom? Special committees of each board have been appointed to try to negotiate a deal. convention or caucus of a political party that has authority to nominate a candidate, for the office sought by the candidate." . Tensions were so high that he offered her a $1-billion buyout, and she fumed to her son in 2015: Your grandfather says I will be chair over his dead body.. /F4.1 12 0 R /F2.0 9 0 R /F3.0 10 0 R >> >> A .gov website belongs to an official government organization in the United States. A peek at this week's ForbesWomen newsletter, which every Thursday brings headlines about the world's most powerful women straight to your inbox. Those were largely symbolic moves, since his stake in the companies gave him firm command. In more than 50 years as a force in the media industry, Sumner M. Redstone clashed with his only son, his nephew, his wife, his romantic partners, his business rivals and the actor Tom Cruise. It Was Business, It Was Personal: The Redstones Father-Daughter Feud, https://www.nytimes.com/2020/08/12/business/media/shari-redstone-sumner-redstone-viacomcbs.html. Shari has been pretty adamant about this combination, said Daniel A. Lyons, a professor at Boston College Law School. Shari Redstone is a media executive with wide-ranging experience in the entertainment industry and related ventures. The investor community still seems to think that the right move could be to just . We will establish a world-class, multi-platform media organization that is well-positioned for growth in a rapidly transforming industry.. Shari Redstone, the president of National Amusements, who controls both Viacom and CBS, has explored options for launching a conservative-leaning news network that would go head-to-head with Fox .
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