Paramount stake sale could hamper deal for Viacom: National Amusements
06:42, Jul 17, 2016
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A Viacom spokesman did not immediately return a request for comment.
Redstone controls Viacom and CBS Corp. via National Amusements, and a representative said the mogul concurs with the statement.
Chinese companies are increasingly staking their claim on Hollywood, with Dalian Wanda Group Co. closer to its goal of becoming one of the world's dominant entertainment companies following reports it is in talks to buy a minority stake in the Paramount Pictures movie studio.
While analysts and studio insiders speculate Dauman's motives are to pad Viacom's stock value, it's also been seen as exerting muscle he doesn't have - as Dauman is engaged in a monthslong battle with Sumner and his caretaker and daughter Shari Redstone.
Media company Viacom is now looking to sell 49 percent of its Paramount Pictures movie studio, against the wishes of majority owner Sumner Redstone.
The deadlock between the Redstone family and Viacom, Inc.
"Unless Viacom's board presents a concrete plan that convinces him otherwise, Redstone continues to believe that it is in the best interest of Viacom that Paramount Pictures should remain wholly owned by the parent company, " a spokesperson for Redstone said in late May.
Wall Street seems skeptical that Dauman will be able to pull off the deal with Wanda, which would require that he successfully navigate several major roadblocks that the Redstones have placed in his path. Dauman has said the divestiture would unlock value of $10 or more per Viacom share and that he would use the proceeds from a sale to pay off debt and for strategic development, particularly overseas.
Why find a buyer for an asset that may not even be for sale? Further, any Paramount transaction would chill the interest of parties that may be interested in a larger transaction involving all of Viacom.
Last week, Viacom urged a judge to fast-track the case and decide whether the Redstone family could oust five Viacom board members, including Dauman. Under an order by that court, Viacom would have to give National Amusements five days notice before entering into a deal for Paramount. Dauman is suing in MA, where the Redstone trust was executed, and fighting him in Viacom's corporate domicile of Delaware.
Dauman contends Sumner Redstone is no longer mentally competent to make such decisions and alleges he's being improperly influenced by Shari. Redstone is seeking to have the litigation take place in California, where he lives.
He said the baseball and safety committees will begin drafting a policy in accordance with the new NFHS rule. However, the knock on innings limits has been that it is not as precise a limit as a pitch count is.
Britain has faced the worst political turmoil in generations following the shock vote on June 23 to leave the European Union. A Tory MP and close ally of May, Damian Green, insisted that the new prime minister did not need to call a general election.
Clinton canceled a planned campaign appearance Friday with Vice President Biden in Scranton, Pa., following the Dallas shootings. Both Slabic and Barnham said they believed Biden would have been a more successful candidate than Clinton.
FBI Director James Comey testified before Chaffetz's panel last week about the investigation into Clinton's private email use. He told Congress last week that three of her emails carried classified markings.
Nevertheless, Deschamps said: "Two years ago we got to a (World Cup) quarter-final, today we are finalists". It's very hard, it's cruel but we have to accept it, and we'll have to digest this, all of us".
With nearly 80% of the vote counted, 10 seats remain in doubt, according to the Australian Broadcasting Corp.'s (ABC) analysis. Mr Shannahan said the Liberal Coalition may keep Mr Turnbull on as leader in the short term, to avoid further instability.
I am sure that in the coming days we can reach our target to reinforce the team to go closer to the other teams. But Foxes boss Claudio Ranieri has told him to hurry up and decide where he wants to be playing next season.
Facebook on the other hand is taking a different approach: secret conversations will be optional, as pointed out by 9To5Mac. The difference between the feature in WhatsApp and Facebook , is that the Facebook is letting you manually activate it.
The "Shake It Off" singer, 26, came ahead of boy band One Direction, now on a break, who took second place with $110 million. During their relationship, Taylor wrote the song, sat down at a piano and did a demo into her iPhone.
To start a secret conversation , a user will have to tap on their friend's name and once you scroll down, the option will appear. End-to-end encryption means device level encryption, and the data is not stored on the company's servers.
Action-comedy Central Intelligence starring Kevin Hart and Dwayne Johnson kept theatres busy with $18.3 million in sales. Finding Dory already broke an animated film record for best opening weekend ever last week.
Arsenal striker's agent talks up transfer to Napoli
The contract would amount to $55 million per year, which is far and away more than any major footballer in Europe makes. Last season, Higuain scored 17 more goals than the next most prolific striker in the league: Paulo Dybala of Juventus.
Cameron Smith Named to Butkus Award 2016 Watch List
It includes one returning finalist, Raekwon McMillan of Ohio State, who won the 2013 national high school Butkus Award . In 39 games and 13 starts at Mississippi State, the Long Beach, Mississippi native has piled up a team-best 109 tackles.
N. Korea vows to end diplomat communication channel with US
South Korean President Park Geun-Hye however defended the move as a "purely defensive" action aimed at protecting the South. It is allegedly the first time United States government imposes sanctions personally addressed to President Kim.
Lawmaker to launch Labour Party leadership contest in UK
Unite's general secretary Len McCluskey had been spearheading efforts to resolve the leadership crisis in the party. Watson said Corbyn's refusal to stand down meant there would be " no realistic prospect of reaching a compromise ".
Tate barely makes weight for UFC 200; Johny Hendricks misses
Jose Aldo also enjoyed a unanimous decision win over No2 ranked featherweight Frankie Edgar for the interim featherweight title. Edgar (19-5-1), the former lightweight champion, was bloodied and battered, though his loss was far from a blowout.
Pokemon Go spikes Nintendo shares
The game essentially gives gamers the ability to track down the Pokemon virtual monsters in their surroundings. Android users need to beware as a modified APK of the game is floating around the Google Play Store.
Boston Red Sox: Craig Kimbrel to have knee surgery
Boston Red Sox closer Craig Kimbrel will have surgery Monday to fix cartilage in his left knee and is expected to miss 3-6 weeks. He likely will fill the closer role until Kimbrel's return with Matt Barnes, Koji Uehara and Junichi Tazawa in the setup role.