Shari Ellin Redstone (born April 14, 1954) is an American media executive. Inside Shari Redstone's Twisted Plot to Breed Viacom and CBS It wasnt until the elder Redstones health deteriorated that she was able squeeze back into her fathers orbit. She also is a director of NAI. (One argument for the merger is that it would make CBS more global and would allow it to leverage Paramount, the movie studio, though these benefits would likely be outweighed by the drag of Viacom's cable channels.) [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. Those were largely symbolic moves, since his stake in the companies gave him firm command. He communicates partly through an iPad programmed with his voice with, reportedly, three responses: yes, no, and fuck you. Ms. Viacom-CBS merger is Shari Redstone's victory | CNN Business In this particular case, because of the personalities involved and the issue, its like the elephant in the tent, he said. Mr. Redstone also made donations to a Viacom political action committee that splits its donations fairly evenly between the parties. Then he gave up his board seats. Though Shari Redstone is eager to sell a combined CBS-Viacom, finding a buyer may not be easy. A receiving line of network executives and on-air stars lined up to greet her as trays of mini cheeseburgers and pinot noir circulated. Viacom asked for an exchange ratio of .68, which would value Viacom at around $14 billion. Father and daughter also joined forces to fight the Viacom board, which challenged Mr. Redstones mental competency in court in 2016. Lawyers and bankers have been hired. Judge Sanctions Fox News for Withholding Evidence in Dominion Defamation Suit. The two reconciled in recent years as his health declined. Secure .gov websites use HTTPS Paramount Gets $167 Million Settlement In CBS Shareholder Lawsuit Redstone, a lawyer by training, repeatedly declined to talk about many of the battles granular details, including her dealings with Les Moonves, with whom CBS is currently involved in arbitration. (A judge eventually ruled in favor of Redstone.). Shari with Sumner Redstone at the LA Friendly House Luncheon in Beverly Hills, 2012. 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 . As many of my most loyal readers know, I've been predicting this for years. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Shari Redstone, chair of Paramount Global and president and CEO of National Amusements, will receive the Humanitarian Award at the Simon Wiesenthal Center . This time, he heavily criticized Norah O'Donnell and her interview with government whistleblower Dr. Rick . Shari Redstone has no plans to launch a conservative news channel to compete with Fox News, reps for the billionaire media heiress said. William D. Cohan. Sumner owned 80 percent of National Amusements, the family's holding company that controls around 80 percent of the voting stock in both of the aforementioned media behemoths, and Shari owned the. [32], Redstone married and divorced Rabbi Ira A. Korff,[33] and they had three children:[1][34], Her ex-husband was president and director of National Amusements until two years after they divorced. Two other members of the board, Joseph Califano and William Cohen, held cabinet posts under Democratic presidents. Both were lawyers before they embarked on second careers in media, and their fine-print skills served them well as they worked out multibillion-dollar agreements on era-defining mergers and acquisitions. Advertisements How old is Shari Redstone? Shari Redstone, who has emerged as the leader of ViacomCBS, in 2016. Learn how to enable Javascript in your browser. 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. Redstone, the daughter of media mogul Sumner Redstone, is chairwoman of media empire ViacomCBS. Standard Digital includes access to a wealth of global news, analysis and expert opinion. offers FT membership to read for free. You may occasionally receive promotional content from the Los Angeles Times. Redstone holds the remaining 20 percent of National Amusements through a separate trust. 1 status among viewers and the news demo of adults 25-54 for the last two decades. That's a market cap of $25.4 billion, less than this year's expected sales of $26 billion. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. How Work Marketplace Site Upwork Makes Life More Accessible For Freelance Worker Shari Stephens, Hedge Fund Stock Dump Crushes The Soaring Fortunes Of ViacomCBS Shari Redstone, To Boldly Go Where All Have Gone Before: ViacomCBS Bets On Star Trek To Launch Paramount+, End Of The Drama: Sumner Redstones Death Leaves Only One Intrigue For ViacomCBS, ViacomCBSs Downward Spiral Is Accelerating As Talk Of Unraveling Grows, From Newcomer Ava DuVernay To Veteran Oprah, Meet 2019s Most Powerful Women In Entertainment, MacKenzie Bezos Makes Forbes 400 Debut; Shari Redstones Forbes Exclusive: Your ForbesWomen Updates, Exclusive: For the First Time Shari Redstone Tells Her Side Of The Battle To Merge Viacom And CBS, The Labors Of Shari Redstone: Reclaiming A Family Legacy, Shari Redstones Dream Fulfilled; Why Your Business Vision Needs Support; Alexis Ohanian Pushes For Parental Leave: Your ForbesWomen Updates, CBS And Viacom Announce Plans To Merge, Finally Fulfilling Shari Redstone's Dream On 3rd Try, Shari Redstone And The Living Legacy Of Her Father's Media Empire. That girlfriend, Sydney Holland, left in September 2015. Mr. Redstones death has bolstered his daughters influence over National Amusements. She halted a plan to sell the storied Melrose Avenue movie studio, Paramount Pictures, and now she has corrected what she long considered a mistake her fathers separation of CBS and Viacom in 2006. [5] 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[6] and Viacom. 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. Sumner Redstone, executive chairman of CBS and Viacom, pulled in $93.4 million this past fiscal year. [16], In 2010, Redstone and her partners purchased the theaters that they had built, and formed Rising Star Media,[17] of which she was chairman, and turned it into the country's top-grossing cinema chain. Hace slo unos aos, Shari Redstone estaba al margen del imperio meditico de su familia. As Fox and family insiders tell it, this could just be the beginning. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI E . Donor Lookup OpenSecrets 6 0 obj So when Dauman proposed selling Paramount to a Chinese company in early 2016, Shari Redstone dug in for a fight. Ms. Redstone did not wither. [30] In January 2021, a Delaware judge said former CBS shareholders could sue Shari Redstone for pressuring the company to enter the merger,[31] and in 2022, Redstone and Viacom sued a group of insurers for refusing to cover legal bills incurred by the court battle. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. The company also boasts this summers top cable series, Yellowstone., Shari Redstone could have taken her wealth and gone on her merry way, investing in Facebook or elsewhere, without worrying about the destruction of these iconic enterprises, Sonnenfeld said. Tyler, 34 . Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. For good measure, he said she isnt qualified to fill his shoes. After years of battle, Shari Redstone runs an empire of her own with May 20, 2019. But within a few months, the court fight in Delaware was eclipsed by a scandal engulfing Moonves, who had run CBS since the 2006 split. Now Shari Redstone has been handed a large bag of rocks. Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and The structure of the empire built by Mr. Redstone is complex but Ms. Redstone is at the top. When you find what you need, export results and save custom links. For the past couple of decades, when media exec Shari Redstone came home, she'd relax in a sprawling mansion in Westwood, MA. They also shared an iron will that helped Ms. Redstone to succeed her father as the leader of the family empire. She was the lead reporter for The Times coverage of the deadly Rust shooting on a New Mexico film set in 2021, work recognized by the Pulitzer Prize board as a finalist in breaking news. Mr. Salerno, who split his giving relatively evenly between the parties, donated to Mr. Gore in 1999 and contributed the maximum $2,000 to Mr. Bushs campaign this time. According to insiders, Redstone could rebrand one of the existing Viacom channels and presumably would insulate CBS News from the new offering. Mr. Redstone, who once told a reporter that his daughter was the love of my life, dangled the possibility of her winning control of his empire only to pull back when she seemed to be gaining power and influence. 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 . Earlier this decade, two women had ensconced themselves in Sumner Redstones life and he lavished them with gifts valued at $150 million. Eleven of the 14 board members supported a proposal to issue a dividend that would dilute Shari Redstone's controlling stake in the broadcaster. Currently, she serves as the chairperson of ViacomCBS after she oversaw the merging of CBS and Viacom Inc in 2019. And they announced that Shari Redstone would become chairwoman of the new entity, ViacomCBS Inc., joining a small number of women overseeing a major U.S. company. Shari Redstone at the Sun Valley Conference in Idaho, 2017. Shari Redstones appointment to lead the remerged Viacom and CBS was unexpected by almost anyone who has followed the battles within this family media business. 48, No. Su padre alguna vez la consider una 'don nadie', ahora es la nueva For a full comparison of Standard and Premium Digital, click here. Challengers of state and local bans on assault weapons in Illinois asked Justice Amy Coney Barrett and the Supreme Court on Monday to block the bans, saying that courts are ignoring last year's . Sumner Redstone, billionaire media tycoon, dead at age 97 - CNBC 2-,$#*+6 SHaFsK!~/kvL)JB+_0a$~Sx{PKYw&> Shari tried once before to effect a merger between Viacom and CBS, in 2016, but that effort went nowhere. But it was former Viacom Chief Executive Philippe Daumans plan to sell Paramount Pictures that bonded father and daughter.