Address 2 *City. 1110 Centre Pointe Curve, Suite 101 Sign up for a free account. It also alleged waste and unjust enrichment in connection with certain aspects of Mr. Ianniellos compensation awards. Joe Ianniello was the former CEO of CBS (he took over after Les Moonves exit), and left shortly after the Viacom-CBS merger was completed. After almost two years of deliberation, Flip Mcgyver and the attorneys for CBS, Paramount, and Viacom have finally reached an agreement out of court for an undisclosed amount. Technology. American. Your message has been submitted. [23][24] Lantern Capital would later acquire the studio. jdoe@viacom.com) and [first] [last] (ex. [68] In May 2022, Berkshire Hathaway had acquired a $2.6billion stake in Paramount. Chief Executive Officer & President, International Markets, Global Consumer Products & Experiences. It also has an international division that manages international versions of its pay TV networks, as well as region-specific assets including Argentina's Telefe, Chile's Chilevisin, the United Kingdom's Channel 5 and Australia's Network 10. Paramount Global has agreed to a $167.5 million settlement of a case stemming from the 2019 merger of Viacom Inc. and CBS Corp. that created the entertainment company, a filing showed. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). CBS shareholders filed three separate suits, which were later consolidated, alleging the company had overpaid for Viacom, clearing the way for media mogul Shari Redstone to reunite the family's media holdings. Another lawsuit connected to the 2019 merger of CBS and Viacom has been settled. A Judge Explains in Data Privacy Suit Involving Facebook Tracking Tool, The Definitive Voice of Entertainment News. (AP) Monday, 24 April 2023 07:12 AM EDT. (917) 216-7629 justin.dini@viacom.com Peter Collins Vice President, Corporate Communications, ViacomCBS (917) 826-4182 peter.collins@viacomcbs.com INVESTOR CONTACTS FOR VIACOMCBS: Anthony DiClemente Executive Vice President, Investor Relations, ViacomCBS (917) 796-4647 anthony.diclemente@viacom.com Jaime Morris Viacom rejected the offer as too low, requesting a $2.8 billion increase and that Bob Bakish be maintained as president and COO under Moonves. "[47] On December 20, 2019, ViacomCBS agreed to acquire a 49% minority stake in film studio Miramax from beIN Media Group for $379million. Primary Address. Discover more about our brands, our leaders, and our culture here. You can convert shares of Paramount Class A common stock into shares of Class B common stock on a one-for-one basis, but you cannot convert Paramount Class B common stock into Class A common stock. Try for free at rocketreach.co John Stillson email address & phone number | Viacomcbs Senior Director, Accounts contact information - RocketReach Please enter your preferences for email notifications below and click "Submit". On Monday, the brand revealed the news of investing $3 billion from their stock sales in streaming. [22] Following the Weinstein effect, Viacom was listed as one of 22 potential buyers that were interested in acquiring TWC. To obtain the Plan brochure and enrollment information, please contact them at 1-866-595-1717. Viacom is headquartered in New York, 1515 Broadway, United States, and has 37 office locations. [52], On September 14, 2020, ViacomCBS announced an agreement to sell the CBSi owned CNET Media Group to Red Ventures for $500million. [16] Viacom then purchased Paramount Communications in 1994. [29], On May 23, 2018, Les Moonves explained that he considered the Viacom channels to be an "albatross," and while he favored more content for CBS All Access, he believed that there were better deals for CBS than the Viacom deal, such as Metro-Goldwyn-Mayer, Lionsgate, or Sony Pictures. [62], On January 5, 2022, The Wall Street Journal reported that WarnerMedia and ViacomCBS were exploring a possible sale of either a majority stake or all of The CW, and that Nexstar Media Group (which became The CW's largest affiliate group when it acquired former WB co-owner Tribune Broadcasting in 2019) was considered a leading bidder. No credit card required. Katy Rullo. According to filings, Ianniello received an exit package valued at more than $125 million. Sign up for a free account. All rights reserved. The settlement, reached Tuesday, provides for the dismissal of the case . Lorem ipsum dolor sit amet consectetur adipisicing elit.