shari redstone political contributions

. Father and daughter also joined forces to fight the Viacom board, which challenged Mr. Redstones mental competency in court in 2016. But it was former Viacom Chief Executive Philippe Daumans plan to sell Paramount Pictures that bonded father and daughter. The exposure to risk for Viacom, even though CBS News is just one of many things that it owns, is very substantial, he said. Only 7% of the largest U.S. companies in Standard & Poors top index have a woman as a board chair, according to Fenwick & West, a Mountain View, Calif., law firm. . . 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. Redstone is the daughter of Phyllis Gloria Raphael and Sumner Redstone, and the sister of Brent Redstone. personalising content and ads, providing social media features and to Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. All rights reserved. Things were rough before the coronavirus hit. The structure of the empire built by Mr. Redstone is complex but Ms. Redstone is at the top. Su padre, Sumner Redstone, la haba considerado pblicamente como una 'don nadie', que contribua. No Writers Guild Deal Today, AMPTP Claims. . Sumner Redstone built his empire from a small regional chain of movie theaters. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used. Shari Redstone - $5,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . For a full comparison of Standard and Premium Digital, click here. Dan Rather is obviously an important person. Popular term for a political committee that is neither a candidates authorized committee nor a party committee. . Redstone holds the remaining 20 percent of National Amusements through a separate trust. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. She has gotten it to the point where the bid and the ask spread is down to around $3 billion. Eleven of the 14 board members supported a proposal to issue a dividend that would dilute Shari Redstone's controlling stake in the broadcaster. Please switch to another browser like Chrome, Firefox, or Edge for a better experience. :I On March 21, another large CBS shareholder wrote in a widely circulated, anonymous letter that coming to the rescue of a weakly positioned, poorly executing, over-levered Viacom is not CBSs burden. The sentiment among CBS shareholders seems best summed up by Todd Juenger, the media analyst at AllianceBernstein, who wrote recently, that the defining question for investors is if CBS were an independent entity, not controlled by the Redstones, would it be pursuing a bid for Viacom? If you believe, like we do, Juenger wrote, the answer to that question is absolutely not, then how hard do you want to work to try and convince yourself this is good for CBS shareholders?. But at a certain point, she may be able to do whatever she wants. The rulingabbreviated a trial that had made headlines with thepersonaldetails it exposed and questions it posed for Redstones media empire. The future leadership falls to Sumner Redstones daughter, Shari, with whom he has had on again, off again squabbles through the years. Shari obtained her 20 percent interest in National Amusements through a 2002 divorce agreement with Sumners first wife and her mother, Phyllis. . [20] She was also a co-chairman of MovieTickets.com (before being sold to Fandango Media in 2017),[21] Inc. and is a member of the Board of Directors and Executive Committee for the National Association of Theatre Owners (NATO). As the merger of Viacom and CBS awaits regulatory approval, a Redstone spokesperson confirms that she quietly visited President Donald Trump in the White House recently but denies any plan to launch a conservative TV network (as does a spokesperson for Viacom). endobj But she was here, trying to fix these media platforms.. /F4.1 12 0 R /F2.0 9 0 R /F3.0 10 0 R >> >> You're using Internet Explorer, some features might not work. [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. Mr. Folta said the political contributions of board members were not unusual. So far, Shari's 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 CBS's other. This week's $12bn deal to reunite the two companies has been Ms Redstone's crowning victory. You may occasionally receive promotional content from the Los Angeles Times. Currently, she serves as the chairperson of ViacomCBS after she oversaw the merging of CBS and Viacom Inc in 2019. You can only have so many alphas in one room, she said. Shari E. Redstone joined the board of CBS in 2004. There's even a 24 cents-per . Shari Redstone, who has emerged as the leader of ViacomCBS, in 2016. We use Shari Redstone is an American media executive with a diverse history in the entertainment industry and related businesses. To revist this article, visit My Profile, then View saved stories. Shari Redstone 117 . Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. But by the summer of 2015, those relations had frayed. I was never a great proponent of the split of the two companies, I think the path each company took could have been different under different leadership and this is why a combination should be explored now, she said at the November 2016 DealBook conference. And Sumner himself has been completely shielded from his longtime friends and the public, who have not seen or heard from him. 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 . Shari Redstone won a round in her fight with . All rights reserved. (Shari Redstone declined to comment, as did her attorney, Betsy Burnett, and her spokesperson, Sara Evans. This article is from the archive of The New York Sun before the launch of its new website in 2022. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. In this particular case, because of the personalities involved and the issue, its like the elephant in the tent, he said. Viacom has faced headwinds in the transforming media environment as Redstone worked to wrest control from former chairman Philippe Dauman and then to push through a merger with CBS. All Rights Reserved. I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets, Redstone said in a statement Tuesday. For good measure, he said she isnt qualified to fill his shoes. As many of my most loyal readers know, I've been predicting this for years. One insider says Redstone thinks Fox News, whose top shows are hosted by Sean Hannity, Tucker Carlson and Laura Ingraham, has gone crazy in the Trump era as it also grapples with the sexual harassment-tainted legacy of network founder Roger Ailes. She successfully facilitated the 2019 $12 billion merger deal between CBS Corp. and Viacom Inc.. The high-profile trial, expected to start Monday, was postponed a day, a development that the Judge called not unusual but has nevertheless prompted buzz about a last-minute settlement. Then he gave up his board seats. [10], Since 1999, she has been president of National Amusements, one of the top ten movie exhibitors in the United States. Lawyers and bankers have been hired. She also is a director of NAI. But in the early 2000s, a time when National Amusements was in peril, Ms. Redstone objected to her fathers penchant for plowing money into the company; and she was not thrilled when he installed her on the Midway board in 2004. He communicates partly through an iPad programmed with his voice with, reportedly, three responses: yes, no, and fuck you. Redstone herself has agitated for an even bolder streaming strategy through Paramount Plus, the company's flagship streaming service, according to company insiders. Redstone, a lawyer by training, repeatedly declined to talk about many of the battles granular details, including her dealings with Les Moonves, with whom CBS is currently involved in arbitration. [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. 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. Shari Redstone continues today to send fraudulent communications purporting to be sent by Sumner, a man who cannot speak, write, read, or take care of himself, according to Herzers complaint. The entertainment industry is facing intense pressure from technology behemoths Walt Disney Co., Netflix Inc., Amazon.com Inc. and Google, which introduced popular alternatives to traditional television. CBS's board then offered Shari Redstone the position of non-executive chair, but she declined. Despite CBS News clout for the weekday broadcasts see Gayle Kings headline-generating March interview with disgraced musician R. Kelly the ratings for mainstays CBS This Morning and CBS Evening News lag behind the competition. [7] Through National Amusements, Redstone and her family are majority owners of CBS, Comedy Central, BET, Showtime Networks, Nickelodeon, MTV and the film studio Paramount Pictures. You look at Sumner Redstones political contributions, said Cliff Kincaid of the conservative press watchdog group Accuracy in Media. Talks were ongoing but collapsed when CBS management feared that she was trying to remove Moonves allies on the board. [12][13][14], In 2007, Redstone and her father feuded publicly over issues of corporate governance and the future of the cinema chain. Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. And then, on October 12, 2015, with Sharis help, Sumner evicted Herzer from his house, which the latter described as a critical step in [Sharis and Tylers] larger conspiracy to take control of Sumners media empire. In an e-mail days later to Tyler, Shari explained the true underlying purpose for this conspiracy, according to Herzer: to undue [sic] all of the legal documents, letters and affidavits that he done against me.. The professor said he doesnt expect the directors to take formal action in connection with the flap, but he said he could not imagine they would ignore it. In an email to that donor, Redstone was described as "a 501(c)4 political organization formed specifically to influence the election in NY-03," and the donor was told that should he decide to . Check if your In a December 2015 letter purported to have been sent by Sumner, according to Herzers filing, Sumner wrote that it was now his intention that Shari succeed him as non-executive chairman of both CBS and Viacom after my death. A month later, another Sumner missive to Shari surfaced. Shari Redstone - $93,300 in Political Contributions for 2012, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . As she cared for him in the mansion, he communicated through an iPad that was configured with three replies: yes, no and an unprintable term he used to express affection. The Wide Shot brings you news, analysis and insights on everything from streaming wars to production and what it all means for the future. Share sensitive information only on official, secure websites. Of the companys 13 board members, eight contribute primarily to Democratic candidates and party committees. Sumner Redstone died Tuesday at age 97, National Amusements said in a statement Wednesday. Ms. Redstone, 66, keeps a much lower profile. Tucker Carlson and Sean Hannity are expected to testify. That girlfriend, Sydney Holland, left in September 2015. In a prelude to the difficulties to come, the father and daughter had a disagreement over the worth of the company behind Mortal Kombat, a video game that pits opponents against each other in anything-goes combat. She sits on the local advisory board and executive committee for BUILD, a nonprofit organization that uses entrepreneurship to propel low income youth through high school and into college. Ms. McGrath pointed to Ms. Redstones skill in assembling allies under pressure, adding, She was actually incredibly effective at pulling together a coalition of very smart people who were willing to challenge Sumner, who were basically betting their careers that shed be able to come out on top. She later received her J.D. Shari has been pretty adamant about this combination, said Daniel A. Lyons, a professor at Boston College Law School. But investors are unconvinced . I am so proud to be his daughter and I will miss him always.. Challengers of state and local bans on assault weapons in Illinois asked Justice Amy Coney Barrett and the Supreme Court on Monday to block the bans, saying that courts are ignoring last year's . A political committee that makes only independent expenditures and does not make contributions to candidates, parties or other political committees unless they are also independent expenditure committees. Since the split, of course, the companies have followed very different trajectories. 2023 Forbes Media LLC. Moonves, on the other hand, supports his handpicked successor Joseph Ianniello. Over the years, Shari Redstone would tell her tough-as-nails father that. Just a few years ago, Shari Redstone was on the outs of her familys far-flung media empire. In 2014, as it was later revealed, Sumner tried to buy. Will Newly-Merged ViacomCBS Boldly Go After Other Media Assets? 2-,$#*+6 SHaFsK!~/kvL)JB+_0a$~Sx{PKYw&> %PDF-1.3 As Fox and family insiders tell it, this could just be the beginning. Redstone has approached current and former Fox News personalities about such a plan, sources say, and she has spoken with former NBC News host Megyn Kelly. According to federal records, she has given exclusively to Democrats in recent years, though not as prolifically as her father. [23] In 2016, Redstone, who at the time was vice chairperson of CBS and Viacom and president of National Amusements (the controlling shareholder of CBS and Viacom), gave the following statement on succession: "my father's Trust states his intention that I succeed him as (non-executive) Chairman at CBS and Viacom, and also names me as a Trustee after his death." Shari Redstone has three children: Kimberlee, Brandon, and Tyler. Redstone, as board chair, joins an elite group of women. Redstone sees an opening as the audience for TV news grows older and more conservative and Trump and some of his fans express disenchantment with ratings giant Fox News, which lost its top news. 8rdWT'eL~.u"A=9]>313X3-$e}u,gmg664$EzL*LZ_j_]Xy[?Xs N/]|msk_WfA2)oz-di2|mj|5ej8eE7[Q|IM%xf)|6\ k`. She was the lone dissenting vote on the five-member National Amusements board of directors. . Daughter and father at a charity dinner in 2005. But even those may be a challengeaccording to someone who saw him recently, hes non compos mentis. (Sumners litigation attorney Rob Klieger, who just came from a visit with his client, told me he unequivocally dismisses as untrue this characterization.) Shari, meanwhile, has been pushing relentlessly to have the two companies reunited, despite the lack of a well-articulated industrial logic. She also is a director of NAI. [18] Redstone and her partners then sold Rising Star Media to Russian theater operator Cinema Park in 2011. Shari Redstone Chairman; ViacomCBS Shari E. Redstone joined the board of CBS in 2004. He called his daughter a credible candidate, while also floating the notion of buying her out. This Redstone plan for a new TV service also would have a streaming component. One member of the Viacom board who has attracted considerable attention in recent months is Mr. Redstones daughter and possible successor, Shari. ), Layoffs hit Amazon Studios and Prime Video, with about 100 jobs cut, New Netflix data shows diversity gains, but does not factor recent job cuts, John King exits CNNs Inside Politics for new role. The board needs to be involved, so to speak, prophylactically, a business ethics specialist at the Conference Board, Ronald Berenbeim, said. The main trust owns controlling shares in National Amusements, which in turn controls about 80 percent of the voting rights in ViacomCBS, the company that resulted from a 2019 merger led by Ms. Redstone. She pushed for the union, believing the two companies would be stronger together during a turbulent time. We will establish a world-class, multi-platform media organization that is well-positioned for growth in a rapidly transforming industry.. Days before trial is set to begin, Dominion has been granted permission to conduct additional depositions. Will Shari Redstone Find A Buyer For A Combined CBS-Viacom? Look at totals and trends, and see how candidates and committees raise and spend money. |iuRH4h?Z&Su}Yc_c^ |[x=fC#yP6)Y3O3$z.7YUD6F(rx+Kq2*XWJ.M|2>=Fur2` [24], On February 4, 2016, against Shari Redstone's desires,[25][26][27] Viacom's board of directors named Philippe Dauman, already the CEO and president, the chairman, replacing Sumner Redstone. Meanwhile, the media industry was rapidly consolidating. But some on CBS board were wary. . 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.. . << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /F1.0 8 0 R Sumner Redstone, originally Sumner Murray Rothstein, (born May 27, 1923, Boston, Massachusetts, U.S.died August 11, 2020, Los Angeles, California), American media executive whose company, National Amusements, Inc. (NAI), acquired leading film, television, and entertainment properties, notably Viacom and CBS. At one point, the media reported that they were communicating by fax and were refusing to speak with each other in person. 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. Shari Redstone tried to nudge CBS to merge with Viacom, but CBS then-leader, Leslie Moonves, was worried that Viacom, which was grappling with a falling stock price and an exodus of viewers, would become a drag on CBS. 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. But Redstone pre is increasingly out of the picture. He contributed $2,000 to Mr. Kerry and has given nearly $30,000 to Democratic groups and candidates in the past six years. Mr. Cohen, the former Republican senator from Maine and secretary of defense under President Clinton, has made modest donations to a few GOP candidates. Learn how to enable Javascript in your browser. Do not fill this out if you are a person. degree in 1978 and her LL.M. Sumner Redstone, who built National Amusements into a media empire, died Tuesday at 97. 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.

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