shari redstone political contributions
Tragically, it is likely that no one will hear from Sumner ever again and that Shari will only give up this charade once [Sumner] passes away and she receives his 80 percent control of [National Amusements]or, on other words, only when she achieves, contrary to Sumners well-documented wishes, complete ownership and control over CBS and Viacom, the goal she has had in mind all along., 2023 Cond Nast. She later received her J.D. Within six weeks, Moonves resigned. Shari Ellin Redstone (born April 14, 1954) is an American media executive. His daughter, Shari Redstone, has effectively controlled Viacom and CBS for several years as Sumner Redstone has dealt with healthRead More Shari Redstone net worth: Shari Redstone is an American media executive who has a net worth of $500 million. According to federal records, she has given exclusively to Democrats in recent years, though not as prolifically as her father. Shari with Sumner Redstone at the LA Friendly House Luncheon in Beverly Hills, 2012. Shari Redstone at the Sun Valley Conference in Idaho, 2017. But her path to power, like most things involving the Redstone family, was contentious. Its clear hes a major donor to the Democratic Party.. CBS first offered Viacom shareholders an exchange ratio of .55 a CBS share for each Viacom sharean offer worth around $11 billion today. But investors are unconvinced . Then he gave up his board seats. Meanwhile, non-Redstone CBS investors dont like the deal one bit. But Shari Redstone has managed to hang on to her 20% stake in the family business. 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. Will Newly-Merged ViacomCBS Boldly Go After Other Media Assets? For cost savings, you can change your plan at any time online in the Settings & Account section. 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. Now, the challenge will be integrating two companies that have been separate for more than a decade. 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]. degree in 1980 from Boston University School of Law. Mr. Cohen, the former Republican senator from Maine and secretary of defense under President Clinton, has made modest donations to a few GOP candidates. Sumner and Shari E. Redstone in 2012. By Todd Williamson/Invision/AP/REX/Shutterstock. Shari Redstone - $5,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . CBS, under the leadership of Les Moonves, has performed well and its stock has appreciated. She also is a director of NAI. The battle between Sumner and Shari Redstone has become the most notorious of the Redstone family disputes, especially due to its very public nature, according to the unredacted lawsuit between Herzer and Shari and her son Tyler Korff that has been filed in federal court in California. 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 . 13 0 obj 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. Earlier this decade, two women had ensconced themselves in Sumner Redstones life and he lavished them with gifts valued at $150 million. She sits on the local advisory board and executive committee for BUILD, a nonprofit organization that uses entrepreneurship to propel low income youth through high school and into college. [23], On January 17, 2018, The Wall Street Journal reported that Shari Redstone was pushing for CBS Corp. to merge with Viacom, with Redstone also gathering names for new board members at CBS. Shari obtained her 20 percent interest in National Amusements through a 2002 divorce agreement with Sumners first wife and her mother, Phyllis. Judge Sanctions Fox News for Withholding Evidence in Dominion Defamation Suit. 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. You look at Sumner Redstones political contributions, said Cliff Kincaid of the conservative press watchdog group Accuracy in Media. Ms. Redstone has contributed to Senator Clinton and Mr. Kerry as well as the Democratic National Committee. Shari Redstone Chairman; ViacomCBS Shari E. Redstone joined the board of CBS in 2004. Redstone, the daughter of media mogul Sumner Redstone, is chairwoman of media empire ViacomCBS. But some on CBS board were wary. there is nothing more to be said. The professor said he doesnt expect the directors to take formal action in connection with the flap, but he said he could not imagine they would ignore it. Redstone built his family's drive-in theater chain into a multibillion-dollar empire . A business professor at Columbia, Meyer Feldberg, said he doubted the Viacom board members would jeopardize the company to advance their own political views. Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. NAI, a closely held company, operates cinemas in the United States, the United Kingdom and Latin America and is also the controlling . As a condition of the September 2018 settlement, she agreed to not try to orchestrate a merger with Viacom for at least two years. In his most consequential battle, he took on his daughter, Shari E. Redstone. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Sumner and Shari Redstone have had an especially troubled relationship, in part due to Sumners desires to keep her away from his personal and business affairs.. So far, Shari's 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 CBS's other. 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 insisted on dissenting, Sumner told Forbes. 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.. 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. Experts in corporate governance say the directors of CBSs parent company, Viacom, are obliged to assume some role in resolving the fiasco over CBS Newss use of what appear to be fake documents about President Bushs military record. Special committees of each board have been appointed to try to negotiate a deal. 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. EVER!! One large CBS investor, Franklin Templeton, sold its longtime stake in the network, rather than stick around to see whether Shari can force a deal to be done. Father and daughter also joined forces to fight the Viacom board, which challenged Mr. Redstones mental competency in court in 2016. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. This Redstone plan for a new TV service also would have a streaming component. Vin Diesel goes off script. xXMoFWLoE,-z`UVj [21], On February 3, 2016, her father resigned as CBS executive chairman after questions arose about his mental competency. Even if you wanted to sabotage the company, it would be hard to do more damage than [previous management] did.. Mr. Redstones death has bolstered his daughters influence over National Amusements. 6 0 obj In the last three years, she has proved herself as a worthy successor to her 96-year-old father, known for his stubborn streak and ability to outlast opponents. [20] She was also a co-chairman of MovieTickets.com (before being sold to Fandango Media in 2017),[21] Inc. and is a member of the Board of Directors and Executive Committee for the National Association of Theatre Owners (NATO). But by the summer of 2015, those relations had frayed. By Lisa Johnson Mandell. 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. Learn how to enable Javascript in your browser. Javascript recommended: FEC.gov uses Javascript to provide the best possible user experience. Sumner Redstone, originally Sumner Murray Rothstein, (born May 27, 1923, Boston, Massachusetts, U.S.died August 11, 2020, Los Angeles, California), American media executive whose company, National Amusements, Inc. (NAI), acquired leading film, television, and entertainment properties, notably Viacom and CBS. In the 2000 presidential campaign, Mr. Moonves, who oversees CBS, gave $1,000 each to Mr. Gore and Senator Lieberman of Connecticut. This spring, independent members of CBS and Viacoms boards began discussing a merger. << /Length 5 0 R /Filter /FlateDecode >> But on Tuesday the boards of CBS and Viacom agreed to reunite the two Redstone-controlled companies that were torn apart 13 years ago. |iuRH4h?Z&Su}Yc_c^ |[x=fC#yP6)Y3O3$z.7YUD6F(rx+Kq2*XWJ.M|2>=Fur2` 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. On the surface, the two seemed unalike. The media heiress, who defeated a series of rivals to win control of ViacomCBS in. An official website of the United States government. The Hollywood Reporter is a part of Penske Media Corporation. Shari Redstone Political Contributions in 2016. By. Within a few months, she and Sumner Redstone removed Dauman and his ally from the familys investment firm, which provoked a high-stakes lawsuit. The main trust owns controlling shares in National Amusements, which in turn controls about 80 percent of. 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. None of the members of Viacoms board consented to be interviewed for this story. One response to "Sun Valley 2022 Guest List Includes Elon Musk, Shari Redstone, David Zaslav, Anderson Cooper (EXCLUSIVE)". As many of my most loyal readers know, I've been predicting this for years. Also known as a campaign committee. Her father, Sumner Redstone, once dismissed her publicly as a lightweight who contributed little to the business. In 2015, Vanity Fair published an article on Ms. Herzer and another of Mr. Redstones late-life paramours, Sidney Holland. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. The investor community still seems to think that the right move could be to just . [19], In 2011, Redstone became co-founder and managing partner of Advancit Capital LLC,[20] an investment platform focusing on early stage in media, entertainment and technology. 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 . 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.. Over a 25-year period, he poured more than $500 million into Midway. He invested in programming and made acquisitions to broaden Viacoms reach. There was almost willful destruction of MTV, VH1 and all of those iconic brands, said Jeffrey Sonnenfeld, a professor at Yale School of Management. Rupert Murdoch May Be Forced to Testify in Dominion's Defamation Suit Against Fox. This includes serving as Chair of the Board of Directors of Paramount Global as well as Chair, CEO, and President of National Amusements, a world leader in the motion picture exhibition industry. The Redstones prevailed, and Dauman, who presided over Viacom as its value plummeted, resigned. convention or caucus of a political party that has authority to nominate a candidate, for the office sought by the candidate." . The two reconciled in recent years as his health declined. 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. Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. Shari Redstone Political Contributions in 2012. (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.) In 2014, as it was later revealed, Sumner tried to buy. At Viacom, we just dont get involved in the news division.. And now she is trying again, with even greater fervor. In this particular case, because of the personalities involved and the issue, its like the elephant in the tent, he said. [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. She successfully facilitated the 2019 $12 billion merger deal between CBS Corp. and Viacom Inc. She is the first woman to have such a large stake of a U.S. media business, controlling a $30 billion media empire.