CBS has gone to war with their controlling owner, Shari Redstone at National Amusements, asking the Delaware Chancery Court for a temporary restraining order while the company considers a move that would dilute Redstone’s voting control. CBS has called a special board meeting for Thursday, May 17, and asks the court “to prevent any action to interfere with that meeting or the effectiveness of actions taken at the meeting.” The broadcaster’s special committee, formed to evaluate Redstone’s desire to have CBS merge with Viacom, has recommended the “issuance of a stock dividend that would dilute NAI’s voting power… from 80 […]
