shari redstone political contributions

The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer. %PDF-1.3 Viacoms chairman and chief executive, Sumner Redstone, is a self-described liberal Democrat and a prolific donor to Democratic campaigns. 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 . degree in 1978 and her LL.M. Shari Redstone is board chair. /F4.1 12 0 R /F2.0 9 0 R /F3.0 10 0 R >> >> 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. [12][13][14], In 2007, Redstone and her father feuded publicly over issues of corporate governance and the future of the cinema chain. To revist this article, visit My Profile, then View saved stories. [42] Redstone recently joined the board and executive committee of "Our Time", a mass-membership organization that stands for the economic interests and political inclusion of young Americans aged 1830. Will Newly-Merged ViacomCBS Boldly Go After Other Media Assets? She has gotten it to the point where the bid and the ask spread is down to around $3 billion. Shari Redstone, who divides her time between Boston, Connecticut and Los Angeles, spent weeks assisting her father at his home and successfully defending the case against Herzer. 1 status among viewers and the news demo of adults 25-54 for the last two decades. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. [21] She is also on the board of directors of The National Center on Addiction and Substance Abuse (CASA) at Columbia University[41] and the John F. Kennedy Library Foundation. 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. 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. Judge Joseph Slights had ruled in February that shareholders could pursue their claims, saying doubts about the fairness of the merger process are reasonable. Receipts are reported periodically, according to the filer's reporting schedule. And now she is trying again, with even greater fervor. A political committee authorized by a candidate to accept contributions or make expenditures on behalf of that candidate. The ups and downs were complicated by his illness and his tabloid-fodder private life. 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. The political affiliations of Viacom's board and senior management, how Sumner Murray Redstone (born Sumner Murray Rothstein; May 27, 1923) is an American media magnate.He is the majority owner and Chairman of the Board of the National Amusements theater chain. A native of Wyoming, she is a graduate of the University of Colorado and Columbia University. 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. Does the fate of a potential $14 billion Wall Street merger all come down to Shari Redstones feud with her father? [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. 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 . Shari insisted on dissenting, Sumner told Forbes. Shari Redstone - $5,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . (A judge eventually ruled in favor of Redstone.). [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). Redstones handpicked lieutenant, Bob Bakish, will oversee the new ViacomCBS as chief executive. Shari Redstone has three children: Kimberlee, Brandon, and Tyler. But it was former Viacom Chief Executive Philippe Daumans plan to sell Paramount Pictures that bonded father and daughter. As Fox and family insiders tell it, this could just be the beginning. 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. offers FT membership to read for free. Then he gave up his board seats. It might depend on where the stock goes over the next year or two, Matthews said. (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.) Under the nearly $12-billion deal, CBS will absorb the smaller Viacom, which owns such brands as MTV, Nickelodeon, Comedy Central and Paramount Pictures. An Ohio health care executive who sits on the Viacom board, Robert Walter, has supported Republicans from his home state. The Redstone family investment firm, National Amusements Inc., controls nearly 80% of CBS and Viacoms voting shares. 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. 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 . The deal is subject to regulatory approvals, but the new company is already taking shape. Herzer is seeking $100 million in compensatory damages as well as treble and punitive damages under RICO She later received her J.D. The two men who act as co-chief operating officers of Viacom, Leslie Moonves and Thomas Freston, also favor Democrats. Redstone, as board chair, joins an elite group of women. According to The Hollywood Reporter on Tuesday,. Learn how to enable Javascript in your browser. Around that time, Ms. Redstone and Mr. Redstone made peace. But within a few months, the court fight in Delaware was eclipsed by a scandal engulfing Moonves, who had run CBS since the 2006 split. Herzer claims Shari and Tyler orchestrated her removal from Sumners Los Angeles home in October 2015, barred her from seeing him, and have effectively taken control of his business empire. She finally won. When an unflattering 2015 Vanity Fair profile highlighted her father's declining health and influence of two of . All three are involved with National Amusements. Of the companys 13 board members, eight contribute primarily to Democratic candidates and party committees. !CF`Bb3uwp#9 e_JVk|3$dN fd7)u=tncQT_v"`UguwE)U^/HICGjK>0pawBW=suLH.j}J,5l#e96 ^0a(B:@/L*0519P2a~,uV(g:`GaHv1 ^'_B^J ^FQ'?p./{3HJj$pLV.OH!Cp(P;SS@' t],;4z`V ?DNtx_%~,S)-p^pPG:WM1m8ZY:mbf@A.cW$b.04+QkJoi#iY)+6Ak"p94[f?OAbg(K{ -fMpbSf0;IS]&! 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. All rights reserved. He refers to himself a "liberal Democrat . Shari Redstone fought to ensure she would succeed her father, Sumner Redstone, atop the family's media empire. In its most recent fiscal quarter, Viacom hit a milestone when it reported that domestic advertising had increased for the first time in five years. Ms. Redstone did not wither. Around Wall Street these days, there is consensus that Shari Redstone has been keen to sell or to merge what she is now calling Paramount Global, and what many think of as the ill-fated re-combination of CBS and Viacom. 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. Shari set about doing just that. 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.). 2023 The New York Sun Company, LLC. A receiving line of network executives and on-air stars lined up to greet her as trays of mini cheeseburgers and pinot noir circulated. As a subscriber, you have 10 gift articles to give each month. Javascript recommended: FEC.gov uses Javascript to provide the best possible user experience. Mr. Redstone with Ms. Redstone, when she received an award from the Boys and Girls Club of Queens in 2000. The argument for the deal seems to be beside the point. Over the years, Shari Redstone would tell her tough-as-nails father that. Ms. Redstone has contributed to Senator Clinton and Mr. Kerry as well as the Democratic National Committee. Even when she was named its president in 1999, Mr. Redstone was unequivocally the boss. A source says the idea for that network was in the works before the Pluto acquisition. Compare Standard and Premium Digital here. 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. Shari Ellin Redstone (born April 14, 1954) is an American media executive. People underestimated her, but shes proven that shes obtained a lot of her fathers characteristics.. This time, he heavily criticized Norah O'Donnell and her interview with government whistleblower Dr. Rick . The case, brought to [], Master, Boston University; Bachelor of Arts/Science, Tufts University. [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. Since the split, of course, the companies have followed very different trajectories. $35. Check if your The feisty 61-year-old former attorney is stepping into the spotlight to exert her influence in the . In early 2018, Redstone again tried to get CBS to entertain the Viacom merger. Premium access for businesses and educational institutions. On the surface, the two seemed unalike. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used. Shari Redstone is an American media executive with a diverse history in the entertainment industry and related businesses. It must be remembered that I gave my children their stock; and it is I, with little or no contribution on their part, who built these great media companies with the help of the boards of both companies. He continued in his interview with Forbes: If she insists on trying to succeed me, theres no question the boards will do what I ask them. The two sides remain far apart on price, terms and, in particular, governance issues. 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 . 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. stream Other. Shari Redstone continues today to send fraudulent communications purporting to be sent by Sumner, a man who cannot speak, write, read, or take care of himself, according to Herzers complaint. After fighting off two of the most powerful men in Hollywood Mr Moonves and her own father . The exposure to risk for Viacom, even though CBS News is just one of many things that it owns, is very substantial, he said. 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All rights reserved. $100. {xO$S]%&7g>r=g8` The rulingabbreviated a trial that had made headlines with thepersonaldetails it exposed and questions it posed for Redstones media empire. Redstone's father, Michael (Mickey), was a liquor wholesaler, nightclub owner . Alex Ben Block. The top three on the list are all Democratic donors. Simply log into Settings & Account and select "Cancel" on the right-hand side. He gave the maximum $2,000 to Mr. Kerry's presidential campaign and supported Vice President Gore's 2000 presidential bid as well. Mr. Redstone also made donations to a Viacom political action committee that splits its donations fairly evenly between the parties. [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. You're using Internet Explorer, some features might not work. Tuesdays agreement, he said, vindicates the strategy that shes had.. Share sensitive information only on official, secure websites. EVER!! or Shari Redstone 117 . . By Lisa Johnson Mandell. As a recently released, unredacted complaint in a lawsuit against Shari makes clear, Sumner Redstone never wanted his daughter to be involved in the family businesses, twice tried to buy out her stock in the family holding company, National Amusements Inc., for around $1 billion. Sumner Redstone built his empire from a small regional chain of movie theaters. 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.. 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. A rep for Kelly declined to comment. 2023 Forbes Media LLC. Behind the scenes, Redstone was instrumental in refreshing the CBS board by bouncing veterans who were friends of her fathers. Through National Amusements, Redstone and her family are majority owners of CBS, Comedy Central, BET, Showtime Networks . The price to earnings ratio is 7. 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. It wasnt until the elder Redstones health deteriorated that she was able squeeze back into her fathers orbit. They also shared an iron will that helped Ms. Redstone to succeed her father as the leader of the family empire. [7] Through National Amusements, Redstone and her family are majority owners of CBS, Comedy Central, BET, Showtime Networks, Nickelodeon, MTV and the film studio Paramount Pictures.

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