Thread regarding Viacom Inc. layoffs

Sumner Redstone Moves to Oust Viacom CEO from Trust That Will Control Viacom and CBS

http://fortune.com/2016/05/20/exclusive-sumner-redstone-moves-to-oust-viacom-ceo-from-trust-that-will-control-viacom-and-cbs/

"This evening he ousted his longtime protégé, Viacom CEO Philippe Dauman, as well as Dauman’s presumed ally, Viacom director George Abrams, as trustees of the entity that will assume voting control of Viacom and CBS upon Redstone’s death or incapacity, according to two sources familiar with the matter. The move is a big victory for Redstone’s daughter, who is vice chair of both companies, in a developing power struggle over her father’s $40 billion media empire."

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"These steps are invalid and illegal,” countered a spokesman for Dauman."

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"It’s not clear how these changes would affect the embattled Dauman’s status as CEO and executive chairman of Viacom."

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| 1422 views | | 2 replies (last May 25, 2016) | Reply
Post ID: @OP+HvpoNLA

2 replies (most recent on top)

c'est la vie phillip

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Post ID: @4hyc+HvpoNLA

WOW! I cannot believe this is actually happening!

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Post ID: @4riu+HvpoNLA

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