With the $1.6 billion Dominion lawsuit threatening to hobble Fox News, the ink on his divorce to Jerry Hall still wet, and his broken engagement to Ann Lesley Smith even fresher, its been a chaotic 12 months for the 92-year-old conservative media baron. Shari Redstone Net Worth | Celebrity Net Worth xXMoFWLoE,-z`UVj Media Exec Shari Redstone Selling $2.25M Massachusetts Mansion The ups and downs were complicated by his illness and his tabloid-fodder private life. Sumner Redstone, executive chairman of CBS and Viacom, pulled in $93.4 million this past fiscal year. Shari Redstone was born in Washington, D.C. in April . [22] The CBS board announced that Les Moonves replaced Sumner Redstone as CBS Chairman. The Viacom-CBS dust has settled. But who is Shari Redstone? - Los 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 . Please switch to another browser like Chrome, Firefox, or Edge for a better experience. Ms. McGrath pointed to Ms. Redstones skill in assembling allies under pressure, adding, She was actually incredibly effective at pulling together a coalition of very smart people who were willing to challenge Sumner, who were basically betting their careers that shed be able to come out on top. Tucker Carlson and Sean Hannity are expected to testify. % 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. 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. Eleven of the 14 board members supported a proposal to issue a dividend that would dilute Shari Redstone's controlling stake in the broadcaster. Anyone can read what you share. Subscribe for full access to The Hollywood Reporter. Shari Redstone has three children: Kimberlee, Brandon, and Tyler. In 2008, Mr. Redstone announced that his daughter would leave the boards of Viacom and CBS. ViacomCBS chairman, Shari Redstone, is now betting she can super-size the flagging brand by leveraging the decades-old Star Trek, along with other fan-favorite franchises, as the cornerstone of a service recrafted and renamed Paramount+. Everybody wants Fox News money, but nobody wants to destroy their [existing] news brand, a source says. Shari Redstone, the president of National Amusements, who controls both Viacom and CBS, has explored options for launching a conservative-leaning news network that would go head-to-head with Fox . Shari Redstone | Keynote Speaker | AAE Speakers Bureau << /Length 5 0 R /Filter /FlateDecode >> This Redstone plan for a new TV service also would have a streaming component. Learn how to enable Javascript in your browser. Daughter and father at a charity dinner in 2005. Paramount Gets $167 Million Settlement In CBS Shareholder Lawsuit The Wide Shot brings you news, analysis and insights on everything from streaming wars to production and what it all means for the future. In 2015, Vanity Fair published an article on Ms. Herzer and another of Mr. Redstones late-life paramours, Sidney Holland. Forty years ago, you wouldnt be seeing people taking that kind of bet on a woman.. President Trump Goes on Another Rant About a 60 Minutes Report - Adweek endobj Bakish and CBS acting chief, Joseph Ianniello, must fuse together two different cultures and navigate the shift to streaming services. [18] Redstone and her partners then sold Rising Star Media to Russian theater operator Cinema Park in 2011. Kimberlee, 38, is a lawyer. Special committees of each board have been appointed to try to negotiate a deal. She successfully facilitated the 2019 $12 billion merger deal between CBS Corp. and Viacom Inc.. cookies Shari Redstone is a well-known American media executive who comes from a Redstone family that has a huge stake in the media industry in America. Sumner Redstone, who built National Amusements into a media empire, died Tuesday at 97. We will establish a world-class, multi-platform media organization that is well-positioned for growth in a rapidly transforming industry.. Mr. Freston is a regular presence at Democratic fund-raising events in New York. All Rights Reserved. Viacom, first under Philippe Dauman and now Bob Bakish, has floundered, especially as children and young adults have reduced their viewership of Nickelodeon, MTV, and Comedy Central, three of its most well-known cable channels, or cut the cord entirely. Shari Redstone, Sumner's daughter who was estranged from her father for much of his life but reconciled with him in his final years, effectively took over his empire in 2016 after a long,. :I The feisty 61-year-old former attorney is stepping into the spotlight to exert her influence in the . Todd Williamson/Invision, via Associated Press. Check if your She pushed for the union, believing the two companies would be stronger together during a turbulent time. While the aging lion took his meals through a feeding tube in his Beverly Park mansion, Ms. Redstone battled Manuela Herzer, his former lover and live-in caretaker, for control of his daily care. %PDF-1.3 Beneath the surface, they had a lot in common. The future of Viacom and its film studio, Paramount, hinge on the battle between Shari Redstone and Philippe Dauman for control of Sumner Redstones trust, (Photo credit by Frazer Harrison/Getty Images) In a Los Angeles court today, a judge dismissed the lawsuit that challenged billionaire Sumner Redstone's mental capacity to make healthcare decisions. and other data for a number of reasons, such as keeping FT Sites reliable and secure, If my father wants me to drop dead he doesnt need to do anything else, she wrote in an e-mail to her three children, among others. 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. 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. You make it possible. personalising content and ads, providing social media features and to 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. 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. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI E . Shari Redstone fought to ensure she would succeed her father, Sumner Redstone, atop the family's media empire. [28], On August 13, 2019, the Associated Press reported that Shari Redstone had become the chair of the board for the reuniting of CBS and Viacom as ViacomCBS, today known as Paramount Global. By Todd Williamson/Invision/AP/REX/Shutterstock. Investigative reporter Ronan Farrow revealed allegations of several women who accused Moonves of sexual misconduct in the 1980s and 1990s. She just was a step behind in a lot of ways and treated poorly, this person continued. 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. They also shared an iron will that helped Ms. Redstone to succeed her father as the leader of the family empire. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. The future leadership falls to Sumner Redstones daughter, Shari, with whom he has had on again, off again squabbles through the years. Redstone's father, Michael (Mickey), was a liquor wholesaler, nightclub owner . He contributed $2,000 to Mr. Kerry and has given nearly $30,000 to Democratic groups and candidates in the past six years. there is nothing more to be said. As Fox and family insiders tell it, this could just be the beginning. She declined the role of non-executive chairman of both CBS and Viacom. Shari Redstone Chairman; ViacomCBS Shari E. Redstone joined the board of CBS in 2004. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer. If she refused, he wrote, he would not allow her or her children to attend his funeral or in any way be involved in his burial arrangements. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. 6 0 obj She finally won. 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 . Viacom's Pluto TV has launched a new conservative channel, but Shari Why is L.A.s iconic skyline far from the beach unlike Miami, Seattle and other cities? In early 2018, Redstone again tried to get CBS to entertain the Viacom merger. But shes finally out from under her fathers shadow, and I think shes driven to make a name for herself and prove what else she can do.. How #MeToo and boardroom politics collided with the Redstone media empire [10], Since 1999, she has been president of National Amusements, one of the top ten movie exhibitors in the United States. or Soon shell be left with nothing but Judge Judy and The Peoples Court. Well save further comment for when the case is dismissed. A representative for Korff did not immediately respond to a request for comment.). As she cared for him in the mansion, he communicated through an iPad that was configured with three replies: yes, no and an unprintable term he used to express affection. Moonves erroneously blamed Redstone's daughter Shari, the CBS vice chairman and an increasingly powerful corporate rival, for his mushrooming PR troubles, and met, texted and socialized again . Do not fill this out if you are a person. The Mysterious, Unregistered Fund That Raised Big Money for Santos Talks were ongoing but collapsed when CBS management feared that she was trying to remove Moonves allies on the board. But some on CBS board were wary. Sources familiar with the pending merger of CBS and Viacom have said that majority owner Shari Redstone is eyeing a possible channel dedicated to conservative news, a move that could mean a . Find elections. CBS crisis comes to a head as Moonves and Redstone fight for - CNNMoney Daring to challenge the bigwigs in front of him and their business model, including Shari Redstone and several of his Paramount Global bosses, the veteran stand-up comic gave the media some advice . On March 21, another large CBS shareholder wrote in a widely circulated, anonymous letter that coming to the rescue of a weakly positioned, poorly executing, over-levered Viacom is not CBSs burden. The sentiment among CBS shareholders seems best summed up by Todd Juenger, the media analyst at AllianceBernstein, who wrote recently, that the defining question for investors is if CBS were an independent entity, not controlled by the Redstones, would it be pursuing a bid for Viacom? If you believe, like we do, Juenger wrote, the answer to that question is absolutely not, then how hard do you want to work to try and convince yourself this is good for CBS shareholders?. Sumner Redstone has never been a particularly gracious husband, brother, or father to his two children. Share sensitive information only on official, secure websites. SpaceX used wildlife preserve as dumping ground for space waste, lawsuit alleges, Philippe Daumans plan to sell Paramount Pictures, Writers strike: Whats at stake and how it could disrupt Hollywood, Writers Guild and studios continue talks, but deal remains elusive as possible strike looms, Oppenheimer wows. 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. Her grandfather was Michael Redstone, who was the original founder of National Amusements, the parent company that now owns the majority of the Redstone media empire. Before she joined the family business, Ms. Redstone went to law school at Boston University, got married, raised three children, baked cookies and worked as a criminal defense lawyer at a small Boston firm. Sumner Redstone's media empire dates back to the 1950s. - Business Insider Receipts are updated as theyre processed that time can vary. His voting stock in the company an 80 percent share will transfer to a seven-member trust that includes Ms. Redstone and her son, Tyler Korff, along with Jill Krutick, a longtime family friend, and four lawyers with ties to the Redstones. Browse Individual contributions | FEC Hes part of the brand, said the lawyer, Jeffrey Kaplan of Skillman, N.J. A boards duty in this situation is somewhat uncertain because the facts are so unique. According to insiders, Redstone could rebrand one of the existing Viacom channels and presumably would insulate CBS News from the new offering. degree in 1980 from Boston University School of Law. stream offers FT membership to read for free. 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. Tyler, 34 . I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets, Redstone said in a statement Tuesday. Sumner Redstone built a media empire. Now, its future is uncertain. Scarlett Johansson. In 2006, Ms. Redstone became nonexecutive vice chairwoman of both CBS and Viacom. They have not had any deliberations on this, board deliberations, and as a board are not handling the situation, which is being handled totally at the news level by CBS, he said. A former Verizon executive who is on Viacoms board, Frederic Salerno of Rye, could offer some solace to supporters of President Bush looking for a friendly face at Viacom. Her father, Sumner Redstone, once dismissed her publicly as a lightweight who contributed little to the business. Former CBS Chief Joseph Ianniello Refutes Claims In - Deadline 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. Though Shari Redstone is eager to sell a combined CBS-Viacom, finding a buyer may not be easy.
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