As Viacom’s leadership struggle plays out, the team at the Redstone family’s National Amusements, which owns both Viacom and CBS, appears to be maneuvering for a remerger of the two companies.
At the same time, a judge’s decision looms on whether Viacom CEO Philippe Dauman will be able to overturn his ouster from the Sumner Redstone family trust and the National Amusements Inc. board, Claire Atkinson reports in The New York Post.
Dauman’s status will be a factor in controlling shareholder Shari Redstone’s next move, Atkinson reports.
“The master plan is obvious: Install a new Viacom board and dump Dauman to stop a selloff of Paramount, which is viewed as a poison pill against a potential acquisition of Viacom by an outside company,” the story reports.
Atkinson also notes: “In addition to being open to a sale, the National Amusements team is game-planning a remerger with CBS. In the past, CBS Chief Executive Leslie Moonves has been highly vocal about his distaste for such a move. But he didn’t say anything of the sort at the recent Allen & Co. mogul retreat. Our sources say Moonves is not quite so against it as he was.”
Atkinson notes that Moonves’ contract “allows him to walk if he doesn’t agree with the move.”