Thursday, 17 May 2018

US media company CBS loses initial battle with shareholder

The US media company CBS has lost an initial court battle amid a dispute with one of its biggest shareholders over control of the company.

A Delaware judge on Thursday lifted a temporary restraining order against National Amusements, which is owned by the Redstone family.

The ruling is expected to prevent CBS from taking steps to reduce National Amusement's voting power.

CBS said it was disappointed but said it would continue its fight.

It said: "The ruling clearly recognises that we may bring further legal action to challenge any actions by [National Amusements] that we consider to be unlawful, and we will do so."
Tensions between the two sides were triggered by Shari Redstone's efforts to merge CBS with Viacom, another National Amusements company.

BBC     News.

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