×
You will be redirected back to your article in seconds

CBS, Shari Redstone Eye Early October for Trial Start, Aug. 10 Set for Shareholder Meeting

The battle of Shari Redstone vs. Leslie Moonves could come to a head in early October as the sides try to sort out a schedule for a trial in the fight for control of the company.

Meanwhile, CBS has rescheduled its annual shareholders meeting for Aug. 10 in Pasadena, Calif. The original date of May 18 was postponed in the wake of CBS’ explosive breach of fiduciary duty lawsuit filed against parent company National Amusements Inc., which is headed by Redstone.

Legal correspondence filed in Delaware Chancery Court on Wednesday indicated that the sides are looking at an early October start date for a trial expected to take about five days. Some industry observers are skeptical as to whether the standoff between Redstone and the longtime CBS leader will wind on until October or if the sides will reach a settlement.

CBS made the first move on May 14, filing a lawsuit claiming NAI and Redstone have breached their fiduciary duty to CBS shareholders by pushing a proposed merger with Viacom and taking other steps that the board deemed not in the best interests of all shareholders. NAI also controls Viacom.

The CBS board voted 11-3 on May 17 to issue the dividend that would reduce NAI’s voting stake in the company from about 80% to about 20%. NAI has countersued, calling the vote invalid and arguing that the board’s moves have created turmoil that has been detrimental to the company.

CBS’ annual meeting had long been scheduled to be held on May 18 but amid the heat of the legal filings, the board voted 11-3 to postpone the meeting. The shift to Pasadena’s Langham Huntington Hotel was made because key CBS executives are expected to be on the West Coast on that date. Former Time Warner chief Richard Parsons is expected to be elected to the CBS board at the meeting.

More TV

  • Outlander 406

    'Outlander' Recap: Jamie Encounters William Again in 'Blood of My Blood'

    SPOILER ALERT: Do not read if you have not yet watched “Blood Of My Blood,” the sixth episode of “Outlander” Season 4. The action in “Blood of My Blood” picked up almost immediately after the previous week’s episode, as evidenced by the fact that Murtagh (Duncan Lacroix) was still staying with Claire (Caitriona Balfe) and [...]

  • The Flash -- "Elseworlds, Part 1"

    'Elseworlds, Part 1' Recap: Barry Allen and Oliver Queen Swap Skills, Visit Superman

    SPOILER ALERT: Do not read if you have not yet watched “Elseworlds, Part 1,” the first part of the 2018 “Arrowverse” crossover, which aired Dec. 9. After past crossovers that introduced beloved characters’ doppelgangers, a wedding and death, “Elseworlds,” the fifth annual “Arrowverse” event, had a lot to which to live up. Unlike previous years, [...]

  • Stranger Things

    'Stranger Things' Season 3 Teaser Reveals Episode Titles, 2019 Release

    Netflix dropped a new teaser for the upcoming third season of “Stranger Things” Sunday, confirming that it will land on the streamer in 2019. The teaser also revealed the episode titles for the third season, which are as follows: “Suzie, Do You Copy?,” “The Mall Rats,” “The Case of the Missing Lifeguard,” “The Sauna Test,” [...]

  • Kyzza Terrazas Joins Garcia Bernal, Diego

    Kyzza Terrazas Joins Gael Garcia Bernal, Diego Luna’s La Corriente del Golfo (EXCLUSIVE)

    BUENOS AIRES — Launching their new production house, La Corriente de Golfo, last April, Gael García Bernal and Diego Luna have tapped Mexican writer-director Kyzza Terrazas as the company’s head of development. The appointment will certainly help build the company appointing an old-rounder capable of overseeing and implementing development, writing and directing, and a longtime [...]

  • Michael Che Defends Kevin Hart on

    Michael Che Ribs Academy Over Kevin Hart Controversy on 'SNL'

    Kevin Hart may have alienated some in Hollywood over his recently resurfaced homophobic tweets, but that didn’t stop “Weekend Update” co-host Michael Che from cracking some jokes in support of Hart on Dec. 8’s “Saturday Night Live.” After briefly recapping that Hart stepped down from hosting the Oscars after the 2011 tweets came to light, [...]

  • THE UMBRELLA ACADEMY

    'The Umbrella Academy' Superheroes Series Premiere Date Set on Netflix

    The dysfunctional-family superheroes of “The Umbrella Academy” are landing on Netflix worldwide on Feb. 15, 2019. The live-action series is based on the “Umbrella Academy” comic books created and written by Gerard Way and illustrated by Gabriel Bá, published by Dark Horse Comics. The Netflix original series comprises 10 one-hour episodes. “The Umbrella Academy” stars [...]

  • SATURDAY NIGHT LIVE -- "Jason Momoa"

    Robert De Niro Appears as Robert Mueller in 'Saturday Night Live' Cold Open

    Robert De Niro made a surprise appearance as special counsel Robert Mueller in “Saturday Night Live’s” cold open. De Niro popped out of a closet in a sketch that skewered President Donald Trump and the mounting legal pressure Mueller’s investigation has put on many of Trump’s associates. Alex Moffatt played Eric Trump in a bedtime-story [...]

More From Our Brands

Access exclusive content