A month later, Sumner Redstone had his other former companion, Manuela Herzer, escorted from his Beverly Park mansion. 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. Now Shari Redstone has been handed a large bag of rocks. or After fighting off two of the most powerful men in Hollywood Mr Moonves and her own father . Search by state or ZIP code, Look up contributions from specific individuals, Find and contact your committee's analyst. Shari Redstone, in blue, and other VicaomCBS executives applauded the opening bell at Nasdaq Dec. 5, 2019, in celebration of the company's merger. He contributed $2,000 to Mr. Kerry and has given nearly $30,000 to Democratic groups and candidates in the past six years. . 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 $30 billion media empire. Shari Redstone Political Contributions in 2012. Learn how to enable Javascript in your browser. 8rdWT'eL~.u"A=9]>313X3-$e}u,gmg664$EzL*LZ_j_]Xy[?Xs N/]|msk_WfA2)oz-di2|mj|5ej8eE7[Q|IM%xf)|6\ k`. Its also unclear whether she will back off her request to have Bakish succeed Moonves when the time comes. In July 2007, Sumner faxed a letter to Forbes rejecting his daughters efforts to succeed him on the Viacom and CBS boards. 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.. May 20, 2019. Advertisements How old is Shari Redstone? All rights reserved. [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. Look at totals and trends, and see how candidates and committees raise and spend money. [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. Met Gala 2023 Red Carpet: See All the Fashion, Outfits & Looks, Get Him Out of Here: Donald Trump Tossed NBC Reporters Phones During Tirade Aboard Campaign Plane, How to Watch the 2023 Met Gala Live Stream. Shari Headley. Shari Redstone | Keynote Speaker | AAE Speakers Bureau 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,. Paramount chief Shari Redstone attended alongside Neeraj Khelmani, Gayle King, Norah O'Donnell, Tony Dokoupil and Nate Burleson. Mr. Redstone, who once told a reporter that his daughter was the love of my life, dangled the possibility of her winning control of his empire only to pull back when she seemed to be gaining power and influence. She also is a director of NAI. (Moonves has denied the allegations.) Shari Redstone, who has emerged as the leader of ViacomCBS, in 2016. Shari Redstone is an American media executive with a diverse history in the entertainment industry and related businesses. 1050 First Street, NE In a December 2015 letter purported to have been sent by Sumner, according to Herzers filing, Sumner wrote that it was now his intention that Shari succeed him as non-executive chairman of both CBS and Viacom after my death. A month later, another Sumner missive to Shari surfaced. 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. We use Shari Ellin Redstone (born April 14, 1954) is an American media executive. During a low point in 2015, Ms. Redstone wrote in an email to her son that your grandfather says I will be chair over his dead body.. 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. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Other Democratic-leaning donors on the Viacom board include: two Boston attorneys, George Abrams and David Andelman; a Manhattan investor, Philippe Dauman; the chairman of Bear Stearns, Alan Greenberg; a law professor at Yeshiva University, William Schwartz, and the president of the Bill & Melinda Gates Foundation, Patricia Stonesifer. Redstone herself has agitated for an even bolder streaming strategy through Paramount Plus, the company's flagship streaming service, according to company insiders. But by the summer of 2015, those relations had frayed. Shari Redstone's $30 Billion Triumph at CBS and Viacom - Intelligencer 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. Sumner Redstone, who built National Amusements into a media empire, died Tuesday at 97. After years of battle, Shari Redstone runs an empire of her own with 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. An Ohio health care executive who sits on the Viacom board, Robert Walter, has supported Republicans from his home state. Shari set about doing just that. Check if your Over a 25-year period, he poured more than $500 million into Midway. 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. You can only have so many alphas in one room, she said. Ms. Redstone has contributed to Senator Clinton and Mr. Kerry as well as the Democratic National Committee. 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. Political Affiliations of Viacom Board Could Impact CBS Case Hace slo unos aos, Shari Redstone estaba al margen del imperio meditico de su familia. She pushed for the union, believing the two companies would be stronger together during a turbulent time. The rulingabbreviated a trial that had made headlines with thepersonaldetails it exposed and questions it posed for Redstones media empire. But some on CBS board were wary. Shari Redstone Already Held Reins of Family Business Before Her - WSJ That girlfriend, Sydney Holland, left in September 2015. 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]. Though Shari Redstone is eager to sell a combined CBS-Viacom, finding a buyer may not be easy. Less than a quarter of the S&P 100 companies have a woman as their chair or a lead director, and that puts Shari in a notable position, said Dawn Belt, a partner and coauthor of Fenwick & Wests Gender Diversity Study. Sumner Redstone built a media empire. Now, its future is uncertain. A source says the idea for that network was in the works before the Pluto acquisition. Beneath the surface, they had a lot in common. At one point, the media reported that they were communicating by fax and were refusing to speak with each other in person. The price to earnings ratio is 7. This spring, independent members of CBS and Viacoms boards began discussing a merger. The deal is subject to regulatory approvals, but the new company is already taking shape. March 16, 2022. 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Herzer is seeking $100 million in compensatory damages as well as treble and punitive damages under RICO Why is Frank McCourt really pushing it? By Lisa Johnson Mandell. You're using Internet Explorer, some features might not work. This time, he heavily criticized Norah O'Donnell and her interview with government whistleblower Dr. Rick . If lower growth and sticky inflation hang around, ways to grow your portfolio or at least stretch it become even more important. Viacom-CBS merger is Shari Redstone's victory | CNN Business This Redstone plan for a new TV service also would have a streaming component. Why Shari Redstone Has Edge Over Philippe Dauman In Battle For Viacom, Judge Dismisses Competency Case Against Sumner Redstone, Herzer Files New Suit Against Shari Redstone, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Daughter and father at a charity dinner in 2005. Around that time, Ms. Redstone and Mr. Redstone made peace. Browse Individual contributions | FEC 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. A $300-million (minimum) gondola to Dodger Stadium? One insider says Redstone thinks Fox News, whose top shows are hosted by Sean Hannity, Tucker Carlson and Laura Ingraham, has gone crazy in the Trump era as it also grapples with the sexual harassment-tainted legacy of network founder Roger Ailes. [15] Documents have been made public which verify that, as part of a settlement from Sumner's first divorce, all of Sumner's stock is in irrevocable trusts that will be left to his grandchildren. Citizens United and The Free Press: Corporate Money and Control Over [16], In 2010, Redstone and her partners purchased the theaters that they had built, and formed Rising Star Media,[17] of which she was chairman, and turned it into the country's top-grossing cinema chain. Redstone built his family's drive-in theater chain into a multibillion-dollar empire . People underestimated her, but shes proven that shes obtained a lot of her fathers characteristics.. New CNN Show Won't Be Political, Hosts . You may occasionally receive promotional content from the Los Angeles Times. Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. CBS CEO Les Moonves was one of the 11. Shari is now vice chairman of the boards of both CBS and Viacom and the president of National Amusements. . 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. Herzer sued, claiming Redstone had lost his mental capacity. In 2015, Vanity Fair published an article on Ms. Herzer and another of Mr. Redstones late-life paramours, Sidney Holland. Theres substantial risk to a major business operation for which they have ultimate oversight and responsibility.. stream If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. As Fox and family insiders tell it, this could just be the beginning. An official website of the United States government. How strong is Disneys 1st Amendment case against Ron DeSantis? For a full comparison of Standard and Premium Digital, click here. Shari Redstone shuts down rumor about conservative news channel Shari tried once before to effect a merger between Viacom and CBS, in 2016, but that effort went nowhere. Also known as a campaign committee. In the 2000 presidential campaign, Mr. Moonves, who oversees CBS, gave $1,000 each to Mr. Gore and Senator Lieberman of Connecticut. One response to "Sun Valley 2022 Guest List Includes Elon Musk, Shari Redstone, David Zaslav, Anderson Cooper (EXCLUSIVE)". The structure of the empire built by Mr. Redstone is complex but Ms. Redstone is at the top. CBS and Viacom were a single entity, after all, until Sumner Redstone separated them 12 years ago after he realized they operated in very different businesses. Shari obtained her 20 percent interest in National Amusements through a 2002 divorce agreement with Sumners first wife and her mother, Phyllis. 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 E. Redstone joined the board of CBS in 2004. (Sumner dumped Holland after stories I wrote in Vanity Fair revealed that, unbeknownst to him, she had been having a longtime affair with George Pilgrim, in Sedona, Arizona, and using Sumners private jet to fly back and forth from Los Angeles to see him, while at the same time living with Sumner.) Theyve never gone against my wishes. In June 2014, Shari acknowledged this ongoing antipathy. An attorney who conducts independent investigations like the one CBS ordered up yesterday said the board members have a duty to make sure the CBS brand is not tarnished, or not tarnished further. Mr. Folta said the political contributions of board members were not unusual. Redstone runs an incredibly outstanding organization, Mr. Feldberg said. Redstone, the daughter of media mogul Sumner Redstone, is chairwoman of media empire ViacomCBS. Shari Redstone Political Contributions in 2016. The elderly mogul was reeling from one of the womens betrayal and prone to crying spells. degree in 1980 from Boston University School of Law. A period of estrangement between Shari Redstone and her combative father, Sumner Redstone, ended with a reconciliation before his death and the daughter taking over the family empire. In 2008, Mr. Redstone announced that his daughter would leave the boards of Viacom and CBS. Why did Dan Rather think he could get away with this or stonewall it? In May 2019, Ms. Redstone made an appearance at a lavish fete at the Plaza hotel thrown by CBS to court business during its annual presentation to advertisers. Shari Redstone Explores Plan to Launch Fox News Competitor (Exclusive) In the midst of closing a merger between CBS and Viacom, Shari Redstone is quietly exploring a plan to launch a conservative TV outlet meant to square off with the Fox News Channel, sources tell The Hollywood Reporter. Meanwhile, the media industry was rapidly consolidating. Investors have enjoyed high market returns for decades, and if that trend might change going forward, smart planning becomes even more essential. 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. 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. As the merger of Viacom and CBS awaits regulatory approval, a Redstone spokesperson confirms that she quietly visited President Donald Trump in the White House recently but denies any plan to launch a conservative TV network (as does a spokesperson for Viacom). |iuRH4h?Z&Su}Yc_c^ |[x=fC#yP6)Y3O3$z.7YUD6F(rx+Kq2*XWJ.M|2>=Fur2` 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 . 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 . university Instead, he surrounded himself with younger girlfriends and business cronies. He invested in programming and made acquisitions to broaden Viacoms reach. UPDATED: Cable giant Shari Redstone reportedly eyeing possible The Sleazy, Slimy Drama Behind the Redstone Succession Fight - Daily Beast 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. degree in 1978 and her LL.M. 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. Highlights, Drama, And The Best Parties From The 2023 White House Media Exec Shari Redstone Selling $2.25M Massachusetts Mansion Days before trial is set to begin, Dominion has been granted permission to conduct additional depositions. In an email to that donor, Redstone was described as "a 501(c)4 political organization formed specifically to influence the election in NY-03," and the donor was told that should he decide to . Should Shari Redstone Flip CBS News? - Puck That's a market cap of $25.4 billion, less than this year's expected sales of $26 billion. Shari Redstone wins in her fight with Les Moonves and CBS - Vox At the height of the conflict when the patriarch was well into his 80s and still a Hollywood force Mr. Redstone tried to buy out his daughter and publicly stated that she was not qualified to lead National Amusements, the parent company of Viacom and CBS, which he had inherited from his father and built into a giant. The exposure to risk for Viacom, even though CBS News is just one of many things that it owns, is very substantial, he said. He gave the maximum $2,000 to Mr. Kerrys presidential campaign and supported Vice President Gores 2000 presidential bid as well. Stay informed and spot emerging risks and opportunities with independent global reporting, expert The other 10 . . Herzers lawsuit plunged National Amusements and Viacom into turmoil. But she was here, trying to fix these media platforms.. 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. The Court ruling . Just a few years ago, Shari Redstone was on the outs of her familys far-flung media empire. Now, the challenge will be integrating two companies that have been separate for more than a decade. $50. 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. By Todd Williamson/Invision/AP/REX/Shutterstock. 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. Bakish and CBS acting chief, Joseph Ianniello, must fuse together two different cultures and navigate the shift to streaming services. 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+. Two other members of the board, Joseph Califano and William Cohen, held cabinet posts under Democratic presidents. offers FT membership to read for free. Even when she was named its president in 1999, Mr. Redstone was unequivocally the boss. Kimberlee, 38, is a lawyer. A political committee that makes only independent expenditures and does not make contributions to candidates, parties or other political committees unless they are also independent expenditure committees. CBS's board then offered Shari Redstone the position of non-executive chair, but she declined. Ms. I am so proud to be his daughter and I will miss him always.. August 16, 2019. ! and she noted that her father thinks the threat of not being allowed to go to his funeral will motivate me. In July 2015, after she met with her father in Los Angeles, she wrote Tyler that your grandfather says I will be chair over his dead body., Herzers lawsuit alleges that Shari had the nurses around her father spy on Herzer and turn Sumner against her, in an effort to eliminate her and Holland from his life. Shari Redstone Bio, Age, Family, Husband, Children, Salary, Net Worth . But even those may be a challengeaccording to someone who saw him recently, hes non compos mentis. (Sumners litigation attorney Rob Klieger, who just came from a visit with his client, told me he unequivocally dismisses as untrue this characterization.) Shari, meanwhile, has been pushing relentlessly to have the two companies reunited, despite the lack of a well-articulated industrial logic. Mr. Freston is a regular presence at Democratic fund-raising events in New York. They were hoping that would please Wall Street, but instead the stock dropped sharply. As a condition of the September 2018 settlement, she agreed to not try to orchestrate a merger with Viacom for at least two years. Most referred questions to a Viacom spokesman, Carl Folta. . THR has learned that Pluto, which Viacom acquired in March for $340 million, is about to launch an as-yet-unannounced streaming conservative news and opinion channel. But Redstone pre is increasingly out of the picture. 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Hedge Fund Stock Dump Crushes The Soaring Fortunes Of ViacomCBS' Shari ), Layoffs hit Amazon Studios and Prime Video, with about 100 jobs cut, New Netflix data shows diversity gains, but does not factor recent job cuts, John King exits CNNs Inside Politics for new role. 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. CBS independent board members filed suit to strip the Redstones of their voting control. Since the split, of course, the companies have followed very different trajectories. It Was Business, It Was Personal: The Redstones' Father-Daughter Feud Redstone plays her personal politics close to the vest but shortly after Trumps election shetoldTHR, Hes always been very good to me and a tremendous supporter of me personally.. In a statement on Wednesday, Ms. Redstone said, Through it all, we shared a great love for one another and he was a wonderful father, grandfather and great-grandfather. Official websites use .gov << /Length 14 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> She also pursued a degree in social work after volunteering at a trauma center for abused children. [23] In 2016, Redstone, who at the time was vice chairperson of CBS and Viacom and president of National Amusements (the controlling shareholder of CBS and Viacom), gave the following statement on succession: "my father's Trust states his intention that I succeed him as (non-executive) Chairman at CBS and Viacom, and also names me as a Trustee after his death."
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