Additionally, it made obvious that the organization wouldn’t accept or support “any acquisition by a 3rd party of either company or any transaction that will lead to National Amusements surrendering its controlling position” either in company or result in another entity manipulating the combined company.
The so-known as “Special Committee of Independent Company directors” consists mostly of recent board people lately put in the wake of the power struggle between your Redstones and Viacom’s management, which brought towards the ouster of former Chief executive officer Philippe Dauman.
National Amusements, controlled by Sumner Redstone and the daughter Shari, owns most voting shares of both CBS and Viacom.
The committee includes new Viacom chairman Thomas May and former The new sony top executive Nicole Seligman, who definitely are co-chairs, together with BuzzFeed chairman Kenneth Lerer, former Discovery Communications Chief executive officer Judith McHale, Avis Budget Group boss Ronald Nelson and longtime Viacom board member Charles Phillips.
The conglomerate’s move is really a reaction to this week’s recommendation from National Amusements that CBS and Viacom merge. It formally advised the businesses, that have been separate entities since 2006, to understand more about a recombination inside a letter on Thursday.
National Amusements stated Thursday that the merger of CBS and Viacom “might offer substantial synergies that will permit the combined company to reply much more strongly and effectively towards the challenges from the altering entertainment and media landscape.”