[22] They lost the bid, and on March 1, 2018, it was announced that Maria Contreras-Sweet would acquire all of TWC's assets for $500million. Moonves also considered Bakish a threat because he did not want an ally of Shari Redstone as a board member of the combined company. [27][28] CBS also accused Redstone of discouraging Verizon Communications from acquiring it, which could have been beneficial to its shareholders. Q: Can I convert one class of Paramount common stock into the other? According to the new regulation on data protection, you have the right to request access to, rectification or erasure of your personal data. You have the right to withdraw your consent at any time, without affecting the lawfulness of VIMNs use of your personal data before the withdrawal. ViacomCBS headquarters is in New York, New York. Visit: https://www.benefitsaccountmanager.com/cbsandyou-cbs-com/ to View or access the FREE GUIDE on how & where to go to manage (login / register / enroll) . [29], On May 23, 2018, Les Moonves explained that he considered the Viacom channels to be an "albatross," and while he favored more content for CBS All Access, he believed that there were better deals for CBS than the Viacom deal, such as Metro-Goldwyn-Mayer, Lionsgate, or Sony Pictures. Paramount reached a $122.5 million settlement in March with Viacom shareholders that also stemmed from the merger. Enter your e-mail to stay informed about upcoming events and opportunities. Mendota Heights, MN 55120-4100, investorrelations@cbs.com (with Authentication ID), Paramount Investor Relations free lookups / month. There are, however, far more shares of Class B outstanding, so most of the trading occurs in that class. 2023 The Hollywood Reporter, LLC. Thank you! Paramount Global directors agreed to a $167.5 million settlement of investors' lawsuits over the controversial 2019 merger of CBS Corp. and . David Templeman. [31], On May 30, 2019, CNBC reported that CBS Corporation and Viacom would explore merger discussions in mid-June 2019. Lorem ipsum dolor sit amet consectetur adipisicing elit. Law360 may contact you in your professional capacity with information about our other products, services and . Email Format Management ViacomCBS Information ViacomCBS is the recombination of CBS and Viacom that has created a media conglomerate operating around the world. The Reason Behind the Company's Name Change", "VIACOM CHIEF LEADS GROUP'S BUYOUT BID (Published 1986)", "Gulf & Western Wants Buyer for Finance Division: Paramount's Parent Plans to Change Name, Focus on Entertainment, Publishing", "National Amusements Proposes Viacom, CBS Reunion, Cites "Substantial Synergies", "Shari Redstone withdraws CBS-Viacom merger proposal", "Viacom, CBS shares surge after report Shari Redstone pursuing merge of companies", "Lionsgate Ripe For Takeover As Amazon, Verizon and CBS-Viacom Emerge As Potential Suitors", "Weinstein Co Talking to 22 Buyers, $300 Million Expected Price, Bob Weinstein Must Exit", "Former Obama administration official has reached a deal to buy Weinstein Co. assets", "TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets", "Moonves vs. Redstone: Inside the Poisonous War for Control of CBS and Viacom", "Could CBS-Viacom Strife Cause Leslie Moonves to Walk Away?