shari redstone political contributions shari redstone political contributions

Shari, however, always wanted to keep them together. The board needs to be involved, so to speak, prophylactically, a business ethics specialist at the Conference Board, Ronald Berenbeim, said. Do Not Sell or Share My Personal Information, Musk said hed never settle an unjust legal case against him. He contributed $2,000 to Mr. Kerry and has given nearly $30,000 to Democratic groups and candidates in the past six years. [24], On February 4, 2016, against Shari Redstone's desires,[25][26][27] Viacom's board of directors named Philippe Dauman, already the CEO and president, the chairman, replacing Sumner Redstone. ), 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. Shari Redstone net worth: Shari Redstone is an American media executive who has a net worth of $500 million. As a subscriber, you have 10 gift articles to give each month. Redstone, the daughter of media mogul Sumner Redstone, is chairwoman of media empire ViacomCBS. personalising content and ads, providing social media features and to Theres substantial risk to a major business operation for which they have ultimate oversight and responsibility.. Also known as a campaign committee. The main trust owns controlling shares in National Amusements, which in turn controls about 80 percent of the voting rights in ViacomCBS, the company that resulted from a 2019 merger led by Ms. Redstone. Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI E . 13 0 obj Moonves, on the other hand, supports his handpicked successor Joseph Ianniello. Simply log into Settings & Account and select "Cancel" on the right-hand side. But at a certain point, she may be able to do whatever she wants. Sumner Redstone, executive chairman of CBS and Viacom, pulled in $93.4 million this past fiscal year. She previously wrote for the Miami Herald and the Palm Beach Post. endobj Under the nearly $12-billion deal, CBS will absorb the smaller Viacom, which owns such brands as MTV, Nickelodeon, Comedy Central and Paramount Pictures. If Redstones right-leaning channel does become a reality, it probably wouldnt launch before Viacom and CBS both of which are controlled by Redstone and her ailing father, Sumner close their merger and become ViacomCBS, a $30 billion conglomerate that will run CBS, Showtime, Comedy Central, Nickelodeon, MTV, VH1 and BET. Fox News mints money for owner Fox Corp. and the Murdoch family, estimated at north of $1 billion in profit annually. In a prelude to the difficulties to come, the father and daughter had a disagreement over the worth of the company behind Mortal Kombat, a video game that pits opponents against each other in anything-goes combat. Im very sure that the chairman and CEO would not allow the board of the company to be compromised by individual political agendas.. Shari Redstone 117 . [10], Since 1999, she has been president of National Amusements, one of the top ten movie exhibitors in the United States. You're using Internet Explorer, some features might not work. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used. But in the early 2000s, a time when National Amusements was in peril, Ms. Redstone objected to her fathers penchant for plowing money into the company; and she was not thrilled when he installed her on the Midway board in 2004. She has gotten it to the point where the bid and the ask spread is down to around $3 billion. Shari Redstone tried to nudge CBS to merge with Viacom, but CBS then-leader, Leslie Moonves, was worried that Viacom, which was grappling with a falling stock price and an exodus of viewers, would become a drag on CBS. Learn how to enable Javascript in your browser. (Shari Redstone declined to comment, as did her attorney, Betsy Burnett, and her spokesperson, Sara Evans. There was almost willful destruction of MTV, VH1 and all of those iconic brands, said Jeffrey Sonnenfeld, a professor at Yale School of Management. She successfully facilitated the 2019 $12 billion merger deal between CBS Corp. and Viacom Inc.. 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. I am so proud to be his daughter and I will miss him always.. The potential merger represents a thorny headache in both the Redstones personal and professional lives. Moonves erroneously blamed Redstone's daughter Shari, the CBS vice chairman and an increasingly powerful corporate rival, for his mushrooming PR troubles, and met, texted and socialized again . Redstone is the daughter of Phyllis Gloria Raphael and Sumner Redstone, and the sister of Brent Redstone. << /Length 14 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> That girlfriend, Sydney Holland, left in September 2015. On the surface, the two seemed unalike. Even if you wanted to sabotage the company, it would be hard to do more damage than [previous management] did.. She later received her J.D. 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. For many years, she stayed away from National Amusements, a company that started as a string of drive-in theaters. An Ohio health care executive who sits on the Viacom board, Robert Walter, has supported Republicans from his home state. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. You can still enjoy your subscription until the end of your current billing period. August 16, 2019. Shari Redstone was in many ways an unwilling participant, dragged into the drama because her father's increasingly erratic and bizarre behavior threatened his family's fortune and legacy . Theyve never gone against my wishes. In June 2014, Shari acknowledged this ongoing antipathy. She also is a director of NAI. n0%f|U9l 7?j`l7"tiNf]?uhgM Z4i[&LY_x It wasnt until the elder Redstones health deteriorated that she was able squeeze back into her fathers orbit. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. [19], In 2011, Redstone became co-founder and managing partner of Advancit Capital LLC,[20] an investment platform focusing on early stage in media, entertainment and technology. But Shari Redstone has managed to hang on to her 20% stake in the family business. March 16, 2022. CBS first offered Viacom shareholders an exchange ratio of .55 a CBS share for each Viacom sharean offer worth around $11 billion today. Shari Redstone was born in Washington, D.C. in April . 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 . Its the story of a person who was mistreated by her father, said the source who recently noted Sumners physical condition, and has known the father and daughter for an extensive period of time. Anyone can read what you share. Sumner Redstone built his empire from a small regional chain of movie theaters. Over the years, Shari Redstone would tell her tough-as-nails father that. As Fox and family insiders tell it, this could just be the beginning. None of the members of Viacoms board consented to be interviewed for this story. . Just a few years ago, Shari Redstone was on the outs of her familys far-flung media empire. The feisty 61-year-old former attorney is stepping into the spotlight to exert her influence in the . This spring, independent members of CBS and Viacoms boards began discussing a merger. Both were lawyers before they embarked on second careers in media, and their fine-print skills served them well as they worked out multibillion-dollar agreements on era-defining mergers and acquisitions. 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. 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. All rights reserved. ! 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 is a well-known American media executive who comes from a Redstone family that has a huge stake in the media industry in America. 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. Given how far she has already come in reversing her fathers desire to keep her away from the oversight of CBS and Viacom, Shari may be willing to sacrifice that demand in order to get Moonvess support. A full body orgasm at the L.A. Phil? Standard Digital includes access to a wealth of global news, analysis and expert opinion. Herzer and her legion of lawyers have now brought the same fanciful claims in probate court (twice), California state court, New York state court, and federal district court [in California], Klieger recently told the New York Post. 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. 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 investors are unconvinced . Redstone has approached current and former Fox News personalities about such a plan, sources say, and she has spoken with former NBC News host Megyn Kelly. convention or caucus of a political party that has authority to nominate a candidate, for the office sought by the candidate." . Mr. Redstone with Ms. Redstone, when she received an award from the Boys and Girls Club of Queens in 2000. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, US says more than 20,000 Russian forces killed in Ukraine since December, The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency, Chinas local governments stuck with bill for neighbourhood surveillance, Moderna co-founder calls on US politicians and judges to stop questioning science, Italy unveils measures to boost flexibility in labour market, JPMorgan to acquire First Republics deposits as US regulators step in, Charlie Munger: US banks are full of bad commercial property loans, Disney uses Ron DeSantiss own words against him in free speech lawsuit, Deutsche Bank plans to beef up investment bank advisory team, How Jamie Dimon swooped on the remains of First Republic, Totals chief tells investors European listing to blame for oil groups trading discount, US live news updates from May 1: JPMorgan to acquire First Republics deposits, Morgan Stanley to cut 3,000 jobs, The difference between First Republic and other recent bank failures, S&P criticised by pension funds over dual-class shares decision, China, America and why not all growth is equal, China could play a crucial role in ending the war in Ukraine, Why Arsenals struggles show you shouldnt count out Donald Trump, Labour has leverage to carry out private equity tax reform, The costs of entrenched high inflation cannot be ignored, Twill of the people: the workwear staple that never gets old, The best new sci-fi: action-packed plots and pure nerdstalgia. After Viacom purchased Paramount Pictures in 1994, Sumner Redstone hailed the moment as his arrival in the media big leagues. Redstone holds the remaining 20 percent of National Amusements through a separate trust. Shari Redstone has spent much of this year trying to re-merge CBS and Viacom over the objections of CBS CEO Les Moonves, who has stepped down over accusations of sexual harassment. Redstone has been president of National Amusements Inc. since 2000 and served as executive vice president of NAI from 1994 to 2000. The two often clashed over executive compensation and board member selection. Those were largely symbolic moves, since his stake in the companies gave him firm command. Compare Standard and Premium Digital here. 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`. The deal is subject to regulatory approvals, but the new company is already taking shape. Changes needed to be made to the Stephens lifestyle in order to make things manageable Because of [her husbands condition], and all of the different things we were dealing with, I really needed an opportunity [for change], Stephens said to me in an interview via videoconference in early December. 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. 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. Javascript recommended: FEC.gov uses Javascript to provide the best possible user experience. Viacom asked for an exchange ratio of .68, which would value Viacom at around $14 billion. They shared an iron will that helped Ms. Redstone to succeed her father. Shari Redstone Political Contributions in 2012. Washington, DC 20463, Federal Election Commission | United States of America. Ms. Redstone has contributed to Senator Clinton and Mr. Kerry as well as the Democratic National Committee. 1050 First Street, NE cookies Why did Dan Rather think he could get away with this or stonewall it? Name & Location: Employer/Occupation: Dollar Amount: Date: Primary/ General: Contibuted To: REDSTONE, SHARI . 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 . - Age She's now ready to close . Ad Choices. The Redstones prevailed, and Dauman, who presided over Viacom as its value plummeted, resigned. There's made-for-reality TV drama of Sumner Redstone romantic affairs to the behind-the-scenes politics of CBS and Viacom's boardrooms politics that as a consumer I realized affected all of us.. The two-year period in which the transaction was reported. 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. With the $1.6 billion Dominion lawsuit threatening to hobble Fox News, the ink on his divorce to Jerry Hall still wet, and his broken engagement to Ann Lesley Smith even fresher, its been a chaotic 12 months for the 92-year-old conservative media baron. or She has, after all, threatened to replace recalcitrant members of the CBS board with directors who support her. Over a 25-year period, he poured more than $500 million into Midway. She halted a plan to sell the storied Melrose Avenue movie studio, Paramount Pictures, and now she has corrected what she long considered a mistake her fathers separation of CBS and Viacom in 2006. This week's $12bn deal to reunite the two companies has been Ms Redstone's crowning victory. In July 2007, Sumner faxed a letter to Forbes rejecting his daughters efforts to succeed him on the Viacom and CBS boards. 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]. Receipts are reported periodically, according to the filer's reporting schedule. stream She sits on the local advisory board and executive committee for BUILD, a nonprofit organization that uses entrepreneurship to propel low income youth through high school and into college. 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.. I know I have asked you to help me return everything to the way it was before the two women entered my life and to make sure that everything I described in the December letter to her has been undone (or is being undone). Soon thereafter, according to Herzer, Shari caused Sumners estate plan to be amended so that after his death his 80 percent interest in National Amusements would fall under the control of the seven trustees, a group she reconstituted to put herself in control of four votes, including her own, Tylers, her daughter Kimberlees, and that of an artist friend Jill Krutick. Shari obtained her 20 percent interest in National Amusements through a 2002 divorce agreement with Sumners first wife and her mother, Phyllis. Shari Redstone, who has emerged as the leader of ViacomCBS, in 2016. The argument for the deal seems to be beside the point. Ms. Only 7% of the largest U.S. companies in Standard & Poors top index have a woman as a board chair, according to Fenwick & West, a Mountain View, Calif., law firm. You may occasionally receive promotional content from the Los Angeles Times. His voting stock in the company an 80 percent share will transfer to a seven-member trust that includes Ms. Redstone and her son, Tyler Korff, along with Jill Krutick, a longtime family friend, and four lawyers with ties to the Redstones. Sources familiar with the pending merger of CBS and Viacom have said that majority owner Shari Redstone is eyeing a possible channel dedicated to conservative news, a move that could mean a . Mr. Folta said the political contributions of board members were not unusual. By. Earlier this decade, two women had ensconced themselves in Sumner Redstones life and he lavished them with gifts valued at $150 million. Around that time, Ms. Redstone and Mr. Redstone made peace. [23], On January 17, 2018, The Wall Street Journal reported that Shari Redstone was pushing for CBS Corp. to merge with Viacom, with Redstone also gathering names for new board members at CBS. This Redstone plan for a new TV service also would have a streaming component. making contributions to political campaigns that could influence voting on issues other than those that directly affected that specific corporation. This includes serving as Chair of the Board of Directors of Paramount Global as well as Chair, CEO, and President of National Amusements, a world leader in the motion picture exhibition industry. *:XgQJBm1THt#b~$)cb87cBiQ1H45 Q[tg;:n6_)0' Redstone herself has agitated for an even bolder streaming strategy through Paramount Plus, the company's flagship streaming service, according to company insiders. To revist this article, visit My Profile, then View saved stories. In a September 2014 e-mail to Tyler, Shari wrote about why she rejected the $1 billion offer: Why would I ever give [Sumner] his dying wish of peace when he never gave me any peace during my whole life. She wrote her daughter, in October 2014, after she had called her grandfather, I cant believe you keep calling him when he could not make it any clearer that all of us could drop dead and it would be the happiest day of his life. That same day, to all of her children, Shari wrote, It could be [sic] not be more clear that the only people in the entire world who your grandfather doesnt care about, and [in] fact is willing to hurt, damage, and destroy are the four of us., In a January 2015 letter, Sumner asked his daughter to sign releases agreeing that she would not sue either Herzer or Sydney Hollandanother live-in girlfriendafter his death. Father and daughter also joined forces to fight the Viacom board, which challenged Mr. Redstones mental competency in court in 2016. [29], In May 2020, she was named as a defendant in a lawsuit filed by the Bucks County Retirement Fund and the International Union of Operating Engineers, over the perceived "destruction of value" caused by the CBS and Viacom merger. 6 0 obj She currently serves as the non-executive chairwoman of Paramount Global (formerly known as ViacomCBS) and president of National Amusements, and is a former vice-chairman of CBS Corporation and Viacom. Its awesome. Of the companys 13 board members, eight contribute primarily to Democratic candidates and party committees. Over the years, Shari Redstone would tell her tough-as-nails father that she possessed 80% of his brains, 90% of his passion and 100% of his obsessive personality. and attorneys fees under ECPA, according to the filing. Shari is now vice chairman of the boards of both CBS and Viacom and the president of National Amusements. $50. An official website of the United States government. You can only have so many alphas in one room, she said. Rather must have felt comfortable, not only because this is his bias but because he knew the parent company was comfortable with this kind of frontal attack on Bush, said Mr. Kincaid, whose group has tangled with CBS for years about its news and entertainment programming. Mr. Folta said the board has not discussed the forged-documents flap and is unlikely to do so. Their main sticking point was one that plagues many family businesses: succession. The top three on the list are all Democratic donors. Herzers lawsuit plunged National Amusements and Viacom into turmoil. . In 2006, Ms. Redstone became nonexecutive vice chairwoman of both CBS and Viacom. A political committee authorized by a candidate to accept contributions or make expenditures on behalf of that candidate. A lock ( LockA locked padlock ) or https:// means you've safely connected to the .gov website. A receiving line of network executives and on-air stars lined up to greet her as trays of mini cheeseburgers and pinot noir circulated. . Everybody wants Fox News money, but nobody wants to destroy their [existing] news brand, a source says. Brandon, 36, is a real-estate developer. 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. Daughter and father at a charity dinner in 2005. Redstone sees an opening as the audience for TV news grows older and more conservative and Trump and some of his fans express disenchantment with ratings giant Fox News, which lost its top news. Talks spanned months and culminated Tuesday with the all-stock deal that the two companies believe will be completed by the end of the year. He gave the maximum $2,000 to Mr. Kerrys presidential campaign and supported Vice President Gores 2000 presidential bid as well. But by the summer of 2015, those relations had frayed. Ms. Redstone, 66, keeps a much lower profile. Vin Diesel goes off script. Shari Redstone faced down industry doubts and her father's public statements that he did not see her as capable of taking over the empire. Through National Amusements, Redstone and her family are majority owners of CBS, Comedy Central, BET, Showtime Networks . For a full comparison of Standard and Premium Digital, click here. A former Verizon executive who is on Viacoms board, Frederic Salerno of Rye, could offer some solace to supporters of President Bush looking for a friendly face at Viacom. Redstones handpicked lieutenant, Bob Bakish, will oversee the new ViacomCBS as chief executive. Shari insisted on dissenting, Sumner told Forbes. According to Herzers lawsuit, and the documents she has obtained as a result of filing it, the feuding between Shari and Sumner began in 2007 after Shari voted to block a $105 million charitable gift that Sumner wanted to make to hospitals in Massachusetts and California. But on Tuesday the boards of CBS and Viacom agreed to reunite the two Redstone-controlled companies that were torn apart 13 years ago. 32", "Redstone says he relies on his instinct", "Shari Redstone buys Russian theaters from her family firm", "Shari Redstone's Rising Star Media sold to Russian theater chain", "Shari Redstone Makes Huge Profit By Selling Russian Theaters For $190 Million", "Shari Redstone launches investment firm Advancit Capital", "Sumner Redstone Resigns as CBS Executive Chairman", "Viacom names Philippe Dauman as new board chairman, replacing Sumner Redstone", "Viacom Names Philippe Dauman Chairman Succeeding Sumner Redstone", "Succession battle engulfs Sumner Redstone's media empire", "Viacom's Board Names Dauman Chairman, Replacing Aging Redstone", "Shari Redstone Wants New CBS Directors, Renews Push for Merger With Viacom", "CBS, Viacom to reunite as media giants bulk up for streaming", "Lawsuit: Shari Redstone and National Amusements "Caused CBS to Massively Overpay for Viacom", "Former CBS shareholders can sue Shari Redstone over ViacomCBS merger", "Shari Redstone, Viacom Sue Insurers Over Merger Suit's Coverage", "The Jewish Post and Opinion, July 18, 1980, Page10", "Sumner Redstone Shows Yet Another Ex-Girlfriend to the Door", "Sumner Redstone trust shakeup: New members are allies of mogul's daughter", "Media Mogul's Scion Sees Emojis as Sign of Times | Los Angeles Business Journal", "An estranged son, a legal battle with a live-in lover, and a mogul who wanted to 'live forever': Meet the heirs to the ViacomCBS empire", "Korff continues family Rabbinic tradition", "Board of Directors - John F. Kennedy Presidential Library & Museum", Redstone Split Bears On Future Of Viacom, CBS, https://en.wikipedia.org/w/index.php?title=Shari_Redstone&oldid=1147955336, Kimberlee Korff Ostheimer, a lawyer who practiced at, Tyler Korff, a lawyer and rabbi who graduated from, This page was last edited on 3 April 2023, at 06:44.