CBS-Viacom Showdown on Fast Track: Court Date Set for This Week

May 14, 2018  •  Post A Comment

Leslie Moonves and Shari Redstone won’t have to wait long to wage what’s being described by Deadline as a “Game of Thrones level war” as Moonves seeks to keep Redstone and her family from forcing a CBS-Viacom merger on the company.

Deadline reports that the date has already been set in the lawsuit filed today by Moonves.

“Lawyers for CBS Corporation and the Redstone run National Amusements will meet in front of Chancellor Andre Bouchard in Delaware’s Court of Chancery on May 16 at 2 PM to argue over the media corporation’s desire for a temporary restraining order,” Deadline reports.

The report quotes CBS’s breach of fiduciary duty complaint filed today as saying: “Plaintiffs are filing this complaint and accompanying motion for a temporary restraining order to prevent Ms. Redstone and NAI from attempting to replace the Board or modify the Company’s governance documents before any Board action taken at the Special Board Meeting becomes effective.”

Deadline adds: “Already claiming to be ‘outraged’ by accusations of planning a deck stacking move, NAI responded on Monday saying the company, which wields control over nearly 79% of CBS’s voting stock, and Redstone have ‘no intention of replacing the CBS board or forcing a deal that was not supported by both companies.’”

We encourage readers to click on the link above to Deadline to read the full report.

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