CBS and National Amusements in Settlement Talks

Sep 5, 2018  •  Post A Comment

The high-stakes corporate beef between Leslie Moonves-led CBS and the Redstone family-controlled holding company National Amusements may be headed toward a resolution. Deadline reports that the companies are in settlement talks.

“With a myriad of issues on the table in the now multiple lawsuits, the recently started sit-down has not come to a conclusion over the fate of CBS CEO Moonves, who has been accused of sexual harassment and sexual assault,” Deadline reports. “Two law firms are conducting independent investigations into the allegations and broader questions about workplace conduct, reporting to the sub-committee of the CBS board of directors.”

The report notes that the Moonves situation is being handled separately from the talks between the companies.

“Sources say CBS board members met throughout the Labor Day weekend to discuss resolving the contentious case against its controlling shareholder, National Amusements,” Deadline reports. “One of the media company’s independent directors, Bruce Gordon, apparently has been advocating a deal to resolve the legal dispute.”

The report adds that publicly the parties are scheduled to appear in Delaware’s Court of Chancery on Sept. 14 for a hearing ahead of a scheduled Oct. 3 trial date.

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