shari redstone political contributions

His daughter, Shari Redstone, has effectively controlled Viacom and CBS for several years as Sumner Redstone has dealt with healthRead More Most referred questions to a Viacom spokesman, Carl Folta. [12][13][14], In 2007, Redstone and her father feuded publicly over issues of corporate governance and the future of the cinema chain. In late 2016, Bakish was named Viacoms CEO and he began working to rebuild the company. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. EVER!! [1], As of January 2018, Redstone is a member of the board of directors at Combined Jewish Philanthropies and the board of trustees at Dana Farber Cancer Institute. He gave the maximum $2,000 to Mr. Kerry's presidential campaign and supported Vice President Gore's 2000 presidential bid as well. 2023 Forbes Media LLC. I am so proud to be his daughter and I will miss him always.. degree in 1978 and her LL.M. The other 10 . William D. Cohan. Does the fate of a potential $14 billion Wall Street merger all come down to Shari Redstones feud with her father? Mr. Redstones death has bolstered his daughters influence over National Amusements. Herzer and her legion of lawyers have now brought the same fanciful claims in probate court (twice), California state court, New York state court, and federal district court [in California], Klieger recently told the New York Post. Key Points. Learn how to enable Javascript in your browser. With the messy Succession-like storyline laid to rest with her father, Shari Redstone still has to prove she can keep the familys $3 billion fortune intact. She currently serves as the non-executive chairwoman of Paramount Global (formerly known as ViacomCBS) and president of National Amusements, and is a former vice-chairman of CBS Corporation and Viacom. [11] Redstone has expanded the company's international footprint and its exploration of new technologies. Its also unclear whether she will back off her request to have Bakish succeed Moonves when the time comes. You make it possible. The investor community still seems to think that the right move could be to just . Their main sticking point was one that plagues many family businesses: succession. << /Length 14 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> endobj Their strong working relationship ensures that Redstone no longer will be the subject of boardroom resistance. As The Wall Street Journal recently reported, Shari Redstone would like to ensure that Bakish will succeed Moonves, who is 68. You may change or cancel your subscription or trial at any time online. As private citizens, board members at Viacom and others make donations to political parties and candidates all the time, he said. After Viacom purchased Paramount Pictures in 1994, Sumner Redstone hailed the moment as his arrival in the media big leagues. You may occasionally receive promotional content from the Los Angeles Times. Shari Redstone Political Contributions in 2012. Herzers lawsuit plunged National Amusements and Viacom into turmoil. She is the non-executive chairwoman of Paramount Global and the president of National Amusements; she was previously the vice-chairwoman of CBS Corporation and Viacom. Fox's best efforts to keep the 92-year-old media moguland his son Lachlan off the stand appear to be faltering, with the judge saying he wouldn't stand in the way of Dominion subpoenaing the Murdochs. He just settled this one. 1050 First Street, NE We use But even those may be a challengeaccording to someone who saw him recently, hes non compos mentis. (Sumners litigation attorney Rob Klieger, who just came from a visit with his client, told me he unequivocally dismisses as untrue this characterization.) Shari, meanwhile, has been pushing relentlessly to have the two companies reunited, despite the lack of a well-articulated industrial logic. Shari Redstone Chairman; ViacomCBS Shari E. Redstone joined the board of CBS in 2004. None of the members of Viacoms board consented to be interviewed for this story. The merger will reunite the companies Sumner Redstone broke apart in 2006 and create a company with more than $28 billion in revenue to better compete with the entertainment world's behemoths. She just was a step behind in a lot of ways and treated poorly, this person continued. stream Five years later, Midway filed for bankruptcy, leaving the headstrong mogul and his headstrong daughter with one less thing to fight about. The only Republican candidates the Viacom chief has supported directly are Senator Hatch of Utah, whom he gave $2,000, and Senator McCain of Arizona, who got $1,000 from him. But in the early 2000s, a time when National Amusements was in peril, Ms. Redstone objected to her fathers penchant for plowing money into the company; and she was not thrilled when he installed her on the Midway board in 2004. What you missed at CinemaCon 2023. Sign up for THR news straight to your inbox every day. analyse how our Sites are used. Shari Headley. Given how far she has already come in reversing her fathers desire to keep her away from the oversight of CBS and Viacom, Shari may be willing to sacrifice that demand in order to get Moonvess support. Shari insisted on dissenting, Sumner told Forbes. Shari has been pretty adamant about this combination, said Daniel A. Lyons, a professor at Boston College Law School. That girlfriend, Sydney Holland, left in September 2015. In the past six years, Mr. Redstone has given $50,000 to Democratic campaigns and party committees, according to filings with the Federal Election Commission. Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. Then he gave up his board seats. Shari Redstone, in blue, and other VicaomCBS executives applauded the opening bell at Nasdaq Dec. 5, 2019, in celebration of the company's merger. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Shari Redstone - $5,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . Will Newly-Merged ViacomCBS Boldly Go After Other Media Assets? << /Length 5 0 R /Filter /FlateDecode >> And they announced that Shari Redstone would become chairwoman of the new entity, ViacomCBS Inc., joining a small number of women overseeing a major U.S. company. Redstone runs an incredibly outstanding organization, Mr. Feldberg said. CBS independent board members filed suit to strip the Redstones of their voting control. For Shari Redstone, the 65-year-old daughter of ailing 96-year-old mogul Sumner Redstone, who had chafed for a dozen years living under the . Viacom asked for an exchange ratio of .68, which would value Viacom at around $14 billion. We will establish a world-class, multi-platform media organization that is well-positioned for growth in a rapidly transforming industry.. Shari Redstone has three children: Kimberlee, Brandon, and Tyler. At Viacom, we just dont get involved in the news division.. In the past six years, Mr. Redstone has given $50,000 to Democratic campaigns and party committees, according to filings with the Federal Election Commission. Shari Redstone won a round in her fight with . << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /F1.0 8 0 R Mr. Redstone with Ms. Redstone, when she received an award from the Boys and Girls Club of Queens in 2000. He communicates partly through an iPad programmed with his voice with, reportedly, three responses: yes, no, and fuck you. I know I have asked you to help me return everything to the way it was before the two women entered my life and to make sure that everything I described in the December letter to her has been undone (or is being undone). Soon thereafter, according to Herzer, Shari caused Sumners estate plan to be amended so that after his death his 80 percent interest in National Amusements would fall under the control of the seven trustees, a group she reconstituted to put herself in control of four votes, including her own, Tylers, her daughter Kimberlees, and that of an artist friend Jill Krutick. The Redstone family investment firm, National Amusements Inc., controls nearly 80% of CBS and Viacoms voting shares. His battles with the church arent over, How Palm Springs ran out Black and Latino families to build a fantasy for rich, white people, 17 SoCal hiking trails that are blooming with wildflowers (but probably not for long! Judge Joseph Slights had ruled in February that shareholders could pursue their claims, saying doubts about the fairness of the merger process are reasonable. They were hoping that would please Wall Street, but instead the stock dropped sharply. and other data for a number of reasons, such as keeping FT Sites reliable and secure, . or She finally won. Dan Rather is obviously an important person. Tensions were so high that he offered her a $1-billion buyout, and she fumed to her son in 2015: Your grandfather says I will be chair over his dead body.. I was never a great proponent of the split of the two companies, I think the path each company took could have been different under different leadership and this is why a combination should be explored now, she said at the November 2016 DealBook conference. But investors are unconvinced . Shari Redstone fought to ensure she would succeed her father, Sumner Redstone, atop the family's media empire. She noted that Hugh Hefner had a long working relationship with his daughter, Christie Hefner, who was chief executive of Playboy Enterprises for 20 years; and that Abigail Johnson took over Fidelity Investments in 2014, after her father, Edward Johnson III, ran the business for nearly four decades. Only 7% of the largest U.S. companies in Standard & Poors top index have a woman as a board chair, according to Fenwick & West, a Mountain View, Calif., law firm. Now Shari Redstone has been handed a large bag of rocks. [18] Redstone and her partners then sold Rising Star Media to Russian theater operator Cinema Park in 2011. Mr. Folta said the political contributions of board members were not unusual. 32", "Redstone says he relies on his instinct", "Shari Redstone buys Russian theaters from her family firm", "Shari Redstone's Rising Star Media sold to Russian theater chain", "Shari Redstone Makes Huge Profit By Selling Russian Theaters For $190 Million", "Shari Redstone launches investment firm Advancit Capital", "Sumner Redstone Resigns as CBS Executive Chairman", "Viacom names Philippe Dauman as new board chairman, replacing Sumner Redstone", "Viacom Names Philippe Dauman Chairman Succeeding Sumner Redstone", "Succession battle engulfs Sumner Redstone's media empire", "Viacom's Board Names Dauman Chairman, Replacing Aging Redstone", "Shari Redstone Wants New CBS Directors, Renews Push for Merger With Viacom", "CBS, Viacom to reunite as media giants bulk up for streaming", "Lawsuit: Shari Redstone and National Amusements "Caused CBS to Massively Overpay for Viacom", "Former CBS shareholders can sue Shari Redstone over ViacomCBS merger", "Shari Redstone, Viacom Sue Insurers Over Merger Suit's Coverage", "The Jewish Post and Opinion, July 18, 1980, Page10", "Sumner Redstone Shows Yet Another Ex-Girlfriend to the Door", "Sumner Redstone trust shakeup: New members are allies of mogul's daughter", "Media Mogul's Scion Sees Emojis as Sign of Times | Los Angeles Business Journal", "An estranged son, a legal battle with a live-in lover, and a mogul who wanted to 'live forever': Meet the heirs to the ViacomCBS empire", "Korff continues family Rabbinic tradition", "Board of Directors - John F. Kennedy Presidential Library & Museum", Redstone Split Bears On Future Of Viacom, CBS, https://en.wikipedia.org/w/index.php?title=Shari_Redstone&oldid=1147955336, Kimberlee Korff Ostheimer, a lawyer who practiced at, Tyler Korff, a lawyer and rabbi who graduated from, This page was last edited on 3 April 2023, at 06:44. Most of the business world agrees with Sumner Redstone that the companies make more sense apart than togetherand that Viacom will be a drag on CBS. [43], list of the 100 most influential people in the world, list of the World's 100 Most Powerful Women, International Union of Operating Engineers, National Center on Addiction and Substance Abuse, "Former Redstone Son-in-Law Quits Theater Chain", "Inside the Battle for Sumner Redstone's $40 Billion Media Empire", "Shari Redstone: 5 Fast Facts You Need to Know", "Shari Redstone: The 100 Most Influential People of 2020", "The World's 100 Most Powerful Women 2022", "List of Private Companies Worldwide, Letter - Businessweek", "Shari Redstone Says U.S. Has Too Many Cinemas, 'Thousands' Should Close - Bloomberg", "Foxboro, MA: National Amusements Debuts New Upscale Cinema Concept at Patriot Place - The BigScreen Cinema Guide", "4/30/2002, The Bridge: Cinema De Lux - Almanac, Vol. Despite CBS News clout for the weekday broadcasts see Gayle Kings headline-generating March interview with disgraced musician R. Kelly the ratings for mainstays CBS This Morning and CBS Evening News lag behind the competition. All rights reserved. imagine this as a "let me see your hands " moment for the . The feisty 61-year-old former attorney is stepping into the spotlight to exert her influence in the . President Trump yet again berated 60 Minutes for its coverage of the Covid-19 pandemic. And then, on October 12, 2015, with Sharis help, Sumner evicted Herzer from his house, which the latter described as a critical step in [Sharis and Tylers] larger conspiracy to take control of Sumners media empire. In an e-mail days later to Tyler, Shari explained the true underlying purpose for this conspiracy, according to Herzer: to undue [sic] all of the legal documents, letters and affidavits that he done against me.. Redstone plays her personal politics close to the vest but shortly after Trumps election shetoldTHR, Hes always been very good to me and a tremendous supporter of me personally.. As a subscriber, you have 10 gift articles to give each month. . Challengers of state and local bans on assault weapons in Illinois asked Justice Amy Coney Barrett and the Supreme Court on Monday to block the bans, saying that courts are ignoring last year's . Viacoms critics say Mr. Redstone, 80, who has been at the helm of Viacom for nearly two decades, set a liberal course that led to the document debacle. Tucker Carlson and Sean Hannity are expected to testify. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI E . Lawyers and bankers have been hired. (Shari Redstone declined to comment, as did her attorney, Betsy Burnett, and her spokesperson, Sara Evans. If Redstones right-leaning channel does become a reality, it probably wouldnt launch before Viacom and CBS both of which are controlled by Redstone and her ailing father, Sumner close their merger and become ViacomCBS, a $30 billion conglomerate that will run CBS, Showtime, Comedy Central, Nickelodeon, MTV, VH1 and BET. Mr. Folta said the board has not discussed the forged-documents flap and is unlikely to do so. Shari Redstone, who has emerged as the leader of ViacomCBS, in 2016. Redstone practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. and attorneys fees under ECPA, according to the filing. May 20, 2019. The two-year period in which the transaction was reported. Dec 1 (Reuters) - ViacomCBS Inc (VIAC.O) Chair Shari Redstone, who in the past has hinted at more deals to bulk up the media empire, said on Wednesday the company will focus on organic growth. Sumner Redstone, who built National Amusements into a media empire, died Tuesday at 97. Over the years, Shari Redstone would tell her tough-as-nails father that. Talks spanned months and culminated Tuesday with the all-stock deal that the two companies believe will be completed by the end of the year. An attorney who conducts independent investigations like the one CBS ordered up yesterday said the board members have a duty to make sure the CBS brand is not tarnished, or not tarnished further. For good measure, he said she isnt qualified to fill his shoes. She pushed for the union, believing the two companies would be stronger together during a turbulent time. Redstone has approached current and former Fox News personalities about such a plan, sources say, and she has spoken with former NBC News host Megyn Kelly. Popular term for a political committee that is neither a candidates authorized committee nor a party committee. In more than 50 years as a force in the media industry, Sumner M. Redstone clashed with his only son, his nephew, his wife, his romantic partners, his business rivals and the actor Tom Cruise. In 2020, Redstone was named on Time's list of the 100 most influential people in the world,[8] and in 2022, to Forbes' list of the World's 100 Most Powerful Women.[9]. Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. . Shari Redstone, chair of Paramount Global and president and CEO of National Amusements, will receive the Humanitarian Award at the Simon Wiesenthal Center . Paramount Global said Friday that, pending court approval, it will receive $167.5 million in settlement of a suit by shareholders of the former CBS Corp. against some of the . In both dayparts, ABC and NBC have been locked in a relatively tight battle for No. The ups and downs were complicated by his illness and his tabloid-fodder private life. {xO$S]%&7g>r=g8` A CBS suit against Ms. Redstone over control of the company was dismissed in May 2018 as CBS Chief Leslie Moonves was ousted due to sexual misconduct. 13 0 obj But it was former Viacom Chief Executive Philippe Daumans plan to sell Paramount Pictures that bonded father and daughter. stream Fox News mints money for owner Fox Corp. and the Murdoch family, estimated at north of $1 billion in profit annually. Theres substantial risk to a major business operation for which they have ultimate oversight and responsibility.. Redstone herself has agitated for an even bolder streaming strategy through Paramount Plus, the company's flagship streaming service, according to company insiders. Why Shari Redstone Has Edge Over Philippe Dauman In Battle For Viacom, Judge Dismisses Competency Case Against Sumner Redstone, Herzer Files New Suit Against Shari Redstone, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Met Gala 2023 Red Carpet: See All the Fashion, Outfits & Looks, Get Him Out of Here: Donald Trump Tossed NBC Reporters Phones During Tirade Aboard Campaign Plane, How to Watch the 2023 Met Gala Live Stream. Premium access for businesses and educational institutions. Learn how to enable Javascript in your browser. In 1999, another board member, investor Jan Leschly, gave $350 to a former New Jersey governor, Christine Todd Whitman, for a Senate bid. So far, Sharis latest effort to force the merger of CBS and Viacomboth of which Sumner still controls through his voting shareshas cost the Redstone family some $600 million, and CBSs other shareholders another $6.5 billion, as the price of the networks stock has sunk from around $70 a share to around $50 as investors anticipate a deal. $35. For a full comparison of Standard and Premium Digital, click here. Currently, she serves as the chairperson of ViacomCBS after she oversaw the merging of CBS and Viacom Inc in 2019. AT&T Inc. acquired Time Warner Inc., owner of HBO, CNN, TBS and Warner Bros. Disney in March completed its $71.3-billion takeover of much of Rupert Murdochs 21st Century Fox. Shari, daughter of ailing 94-year-old empire builder Sumner Redstone, insists that Viacom and CBS must merge, an idea that once would have held great appeal for Moonves assuming he would be in . Ms. August 16, 2019. She declined the role of non-executive chairman of both CBS and Viacom. Ad Choices. Shari Redstone was in many ways an unwilling participant, dragged into the drama because her father's increasingly erratic and bizarre behavior threatened his family's fortune and legacy . CBS and Viacom were a single entity, after all, until Sumner Redstone separated them 12 years ago after he realized they operated in very different businesses.

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