CBS Sues Shari Redstone and National Amusements in Bid to Block Viacom Merger

CBS is calling for a special board meeting on Thursday for directors to vote on a proposal to issue a special stock dividend that would dilute the preferred voting power that National Amusements holds in CBS from 79.6% to about 17%, which would curb Shari Redstone’s power to make changes to the CBS board. CBS maintains that such a move is allowed under the CBS Corp. charter. CBS is scheduled to hold its annual shareholders meeting on Friday. – Cynthia Littleton, Variety https://ift.tt/2KVTbw1
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