Latest in Shari Redstone

Was it the Bumblebee bit? Paramount Global stock has plunged more than 20% since the company’s investor presentation Tuesday, including a 3% dip today. The vanishing of almost $5 billion in market value, after the company formerly known as ViacomCBS declared it was going all-in on streaming, has left even die-hard…

The CFO of ViacomCBS, soon to be known as Paramount, said Tuesday that the company is looking hard for "efficiencies" at its traditional businesses to divert as much cash it can to streaming, where investment will pass $6 billion by 2024. That’s up from $2.2 billion last year, the streamer’s first. (Netflix laid out…

ViacomCBS CEO Bob Bakish said the company now anticipates 100 million streaming subscribers in 2024 – well above a previous forecast of 65M-75M, after record ads in the fourth quarter and amid a rebranding of the company to Paramount – (officially ‘Paramount Global’ but the company prefers to be called just ‘Paramount…

ViacomCBS is rebranding to become Paramount Global, effective February 16, the latest giant pivot in a rapidly transforming media and entertainment landscape. The new name nods to the company’s storied studio and its centerpiece streaming network Paramount+, which launched in March 2021. “An iconic global company…

Ethnic diversity at ViacomCBS' U.S. operations nosed up to 37.7% from 36.2% over the past year and, at the VP level or higher, moved to 27.7% from 24.9%, according to the company's second DEI (Diversity, Equity & Inclusion) report since Viacom and CBS merged in late 2019. Among growth at the VP+ levels, Black…

ViacomCBS Chair Shari Redstone was doing the rounds at Sun Valley but contrary to reports, she did not have a meeting with Comcast CEO Brian Roberts at the Allen & Co. mogul mountain retreat, according to a person familiar with the situation. But the Philly-based conglom has been the subject of constant deal…

Nearly three years after Les Moonves was tossed off his perch at CBS over allegations of sexual misconduct, the onetime corporate powerhouse has finally settled disputes over his $120 million exit package with the Sheri Redstone-controlled company. "The disputes between Mr. Moonves and CBS have now been resolved, and…

Joseph Ianniello, the former acting CBS CEO, denied claims of unjust enrichment and other allegations in a shareholder lawsuit contesting the 2019 merger of Viacom and CBS. The suit in Delaware Chancery Court largely targets majority owner Shari Redstone for allegedly stacking the Viacom board with allies and jamming…

Shari Redstone, chair of ViacomCBS, stepped out out in force Wednesday, announcing that the company about to be discussed for the next three hours “is not your father’s Viacom. And it’s not my fathers' either.” Redstone was kicking off a streaming event months in the making ahead of the launch of Paramount+ on March 4…

A Delaware Chancery Court Wednesday rejected Shari Redstone's motion to dismiss a shareholder lawsuit claiming she breached her fiduciary duty by pushing allies to ram through the Viacom-CBS merger at stockholder expense in a quest to attain the status of "media magnate" like her father, the late Sumner Redstone. A…

"I imagine we will be on his radar and I think it is likely the IRS will start auditing my taxes, but that's just a guess," The Comey Rule director Billy Ray said  today on how Donald Trump will react to the upcoming Showtime event series. "I think at the very least, I'm in for a mean nickname on Twitter," the Captain…

As they say, it couldn't have happened to a nicer guy – in the best way. Nearly 25 years after joining CBS as a media relations executive, Chris Ender today was named communications chief for the CBS Entertainment Group. "Reporting to me, Chris will be responsible for all public relations, media relations and…