Markets

CBS, Viacom had agreed on price for deal before lawsuit, sources say

CBS, Viacom had agreed on price for deal before lawsuit, sources say

CBS's lawsuit said Redstone rejected an approach by an unnamed potential acquirer of CBS, citing that as another reason her interests are not aligned with other CBS shareholders.

As permitted under CBS' charter, the network says it could declare a dividend of shares of Class A common stock to all the Company's Class A and Class B stockholders.

The complaint states that the Redstones and their company National Amusements are planning to use their power as "controlling stockholder" to approve a merger of Viacom and CBS just days after it was unanimously rejected by members of a Special Committee of the corporation's Board of Directors. "If consummated, the dividend would enable the Company to operate as an independent, non-controlled company and more fully evaluate strategic alternatives", CBS wrote in a release.

It also wants to dilute the shareholdings of NAI, which has voting control at both CBS and Viacom.

Catalonia: Pro-independence candidate wins presidency
Barroso said the ERC wants a moderate approach to avoid a Madrid clampdown and to play a longer independence game. During that speech, he lambasted European institutions for their "unacceptable silence" over the Catalan crisis.

It is seeking a temporary restraining order to prevent her from interfering in a meeting on Thursday, when the firm plans to discuss issuing a dividend that would dilute NAI's voting rights from 79% to 17%.

The feud between CBS and National Amusements has descended into a playground brawl.

CBS is suing National Amusements, the media company's majority shareholder, alleging that it is violating its fiduciary duty to investors by pushing for a merger with Viacom.

"Ms. Redstone, through her recently-obtained domination and control of [National Amusements], has taken actions over the past two years that have led the Special Committee to conclude that she presents a significant threat of irreparable and irreversible harm to the Company and its stockholders", said the lawsuit, filed Monday in Chancery Court in Delaware. Redstone reportedly expressed her willingness to replace CBS directors to compel a merger with Viacom regardless of the Special Committee's process, deliberations, and conclusion'.


  • Inflation rises in April, may prompt RBI to harden monetary stance

    Inflation rises in April, may prompt RBI to harden monetary stance

    April thus became the sixth straight month of inflation above the Reserve Bank of India's (RBI) 4 per cent medium-term target. The index for primary articles grew 1.41 percent annually in April and prices of food articles went up by 0.87 percent.
    André 3000 is back - with two personal tracks

    André 3000 is back - with two personal tracks

    His real name is Andre Benjamin , and he is best known as one-half of the hip-hop duo Outkast alongside Big Boi . Andre 3000 shared one of the last conversations he had with his mom before she passed away.
    Kylie Jenner's bodyguard releases statement denying baby daddy rumours

    Kylie Jenner's bodyguard releases statement denying baby daddy rumours

    Meanwhile, Caitlyn Jenner also posted a photo of daughter Kylie Jenner with two of her brothers, Burt and Brandon Jenner. She also claimed Kris was less than honest about how much she knew about Caitlyn's desire to transition.
  • Kylian Mbappé voted Young Player of the Year by Ligue 1 players

    Kylian Mbappé voted Young Player of the Year by Ligue 1 players

    Neymar has been surrounded by intense transfer speculation over recent weeks despite only joining the Ligue 1 club last summer. PSG coach Unai Emery, who is leaving at the end of the season, won Coach of the Year after guiding PSG to a domestic treble.
    USA  condemns rocket attack by Iran on Israel

    USA condemns rocket attack by Iran on Israel

    They expect West Texas Intermediate, the most commonly cited United States contract, to trade $6 below the price of Brent in 2019. Iranian leaders have said they will begin enriching uranium again, in a move toward building nuclear weapons.
    Arsene Wenger fascinated by India

    Arsene Wenger fascinated by India

    The Gunners boss will leave the club after nearly 22 years at the helm when the final whistle blows at Huddersfield today. However, the outgoing manager believes that Arsenal will not struggle next season even though they will be on transition.
  • Nanny who stabbed two children to death will be sentenced

    Nanny who stabbed two children to death will be sentenced

    Medical experts testified that Lucia fought bravely and sustained more than 30 nicks, slices and stabs from Ortega. Kevin Krim , the children's father, was away on a business trip at the time of the 2012 killings .
    CBI Files Chargesheet in Nirav Modi Case, Names ex-PNB Head

    CBI Files Chargesheet in Nirav Modi Case, Names ex-PNB Head

    CBI filed the chargesheet in a Mumbai court just before the 90-day period to file charges against those arrested ends. Apart from the arrested accused the probe agency have named three firms of which one is Stellar Diamond.
    Ronda Rousey Accepts Nia Jax's Money in the Bank Challenge

    Ronda Rousey Accepts Nia Jax's Money in the Bank Challenge

    The report was a result of Jax , Rousey , and other WWE roster members being at the NBC Upfronts. News. "I happily oblige respectfully, so I can sit next to her". "We all have the same goals".
  • APC Congress: Niger Delegates Protest Return of Party Chairman

    APC Congress: Niger Delegates Protest Return of Party Chairman

    In Borno, Ondo, Kogi and Kano, there were instances of parallel congresses at both the ward and local government congresses. Eke said the postponement followed an attack by hoodlums on the party's secretariat as well as other issues.
    Stoeger to leave Dortmund at the end of the season

    Stoeger to leave Dortmund at the end of the season

    Dortmund coach Peter Stoeger confirmed his widely-expected departure following the 3-1 defeat at Hoffenheim on Saturday. With Germany promised only six European tournament spots overall, three teams will be on the outside looking in.
    John Cena Wants A Family With Nikki Bella

    John Cena Wants A Family With Nikki Bella

    I don't want anybody else. "Life had always been about me, and slowly, over time, this woman comes in and steals my heart". I think the greatest takeaway from all this. "Isn't that what wives are supposed to do?", replies Nikki innocently.