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2016 | 2015 | 2012 | 2010 | 2008

3 items from 2016


Viacom Activist Investor Slams Philippe Dauman as ‘Defiant and Arrogant,’ Calls for Board Overhaul

11 February 2016 12:19 PM, PST | Variety - Film News | See recent Variety - Film News news »

It may not be one of Viacom’s bigger stakeholders, but that hasn’t prevented SpringOwl Asset Management from making a lot of noise about the direction of the company.

After Viacom’s stock hit a 52-week low this week, the activist investor called for the embattled media conglomerate to elect six independent board members. SpringOwl, which owns an undisclosed stake in the company behind Paramount, MTV and Comedy Central, is also pushing for Viacom to oust Philippe Dauman, its CEO and newly appointed executive chairman.

The hedge fund is agitating for change at a difficult time for Viacom. On an earnings call on Tuesday, Dauman slammed “naysayers, self-interested critics and publicity seekers” and bristled when asked about his elevation to the chairman role. Viacom’s stock plunged 21% that day.

“He is not the right CEO to take the company forward,” said Eric Jackson, managing director of SpringOwl, in an interview with Variety. »

- Brent Lang

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Shari Redstone Ignites War With Philippe Dauman Over Viacom’s Future

3 February 2016 7:04 PM, PST | Variety - Film News | See recent Variety - Film News news »

The rapid-fire series of events Wednesday laid bare what insiders already knew: Shari Redstone is on a collision course with Viacom CEO Philippe Dauman for control of the Redstone family trust that will inherit her father’s iron-clad control of CBS Corp. and Viacom. A battle is expected to flare Thursday at Viacom’s board meeting to address the resignation of Shari’s 92-year-old father as chairman, which follows on the heels of Sumner Redstone’s resignation as CBS Corp. chairman on Wednesday and the elevation of CBS president-ceo Leslie Moonves to the chairman’s post.

Shari Redstone and Dauman are expected to face off at the meeting given the statement she issued Wednesday asserting that Viacom needs an independent leader, not someone who is connected to the Redstone family trust. Moonves fits that description; Dauman does not.

“It is my firm belief that whomever may succeed my father as »

- Cynthia Littleton

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Shari Redstone Ignites War With Philippe Dauman Over Viacom’s Future

3 February 2016 7:04 PM, PST | Variety - TV News | See recent Variety - TV News news »

The rapid-fire series of events Wednesday laid bare what insiders already knew: Shari Redstone is on a collision course with Viacom CEO Philippe Dauman for control of the Redstone family trust that will inherit her father’s iron-clad control of CBS Corp. and Viacom. A battle is expected to flare Thursday at Viacom’s board meeting to address the resignation of Shari’s 92-year-old father as chairman, which follows on the heels of Sumner Redstone’s resignation as CBS Corp. chairman on Wednesday and the elevation of CBS president-ceo Leslie Moonves to the chairman’s post.

Shari Redstone and Dauman are expected to face off at the meeting given the statement she issued Wednesday asserting that Viacom needs an independent leader, not someone who is connected to the Redstone family trust. Moonves fits that description; Dauman does not.

“It is my firm belief that whomever may succeed my father as »

- Cynthia Littleton

Permalink | Report a problem


2016 | 2015 | 2012 | 2010 | 2008

3 items from 2016


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