CBS, Redstones Face Court Fight Over Control of Media Giant
- Company’s board votes to dilute family’s voting power
- Delaware judge must decide fate of bitter tug of war
CBS, Viacom Might Be Better Off With Other Suitors, Shareholder Says
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It’s now up to a Delaware judge to decide the future of CBS Corp., owner of the most popular TV network in the U.S.
CBS’s board voted Thursday to strip National Amusement Inc. of its controlling stake in the company by diluting its share of voting power. But NAI -- a firm backed by the Redstone family -- contested the vote, stating that it had already changed the company’s bylaws to prevent such a maneuver.