Redstone removed Dauman and Abrams form the seven-person Sumner M. Redstone National Amusements Inc Trust last week as well as the National Amusements board.
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The trustees of the trust itself, who would control National Amusements if Mr. Redstone were declared incompetent, have also ratified the selection of the National Amusements directors.
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CBS is bringing its majority shareholder, National Amusements, to court Wednesday to fight for independence and stop a merger with cable network Viacom, also owned by National Amusements.
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" National Amusements says CBS's public lawsuit was precipitated following National Amusements "raising specific concerns about incidents of bullying and intimidation in relation to one CBS director, dating back to 2016.
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National Amusements has said it believed CBS sought a temporary restraining order because National Amusements had raised specific concerns about incidents of bullying and intimidation by one CBS director, Charles Gifford.
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The Sumner M. Redstone National Amusements Inc Trust owns about 80 percent of Redstone's privately held National Amusements, which in turn owns 80 percent of the voting stock in both Viacom and CBS.
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In its statement, National Amusements said it believes CBS filed its lawsuit because National Amusements had raised specific concerns about incidents of bullying and intimidation by one CBS director, dating back to 2016.
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National Amusements and Lipton did not return calls for comment.
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The settlement affirms that her holding company, National Amusements Inc.
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But attempts to "translate" novels into emoji are mere amusements.
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Both men were also removed from the National Amusements board.
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He also removed them from the board of National Amusements.
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Life isn't meant to be an endless parade of amusements.
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Boredom teaches us that life isn't a parade of amusements.
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Both are part of the Redstone family business, National Amusements.
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The Sumner M. Redstone National Amusements Inc Trust owns about 80 percent of Redstone's privately held National Amusements Inc, which in turn owns 80 percent of the voting rights in both Viacom and CBS.
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Viacom is also controlled by the Redstone family's National Amusements Inc.
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Few analog amusements have continued to thrive in the digital age.
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Viacom, CBS, Redstone's National Amusements, Sony and Discovery declined to comment.
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Representatives for National Amusements could not immediately be reached for comment.
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The Redstone family's National Amusements Inc controls both CBS and Viacom.
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Resolution of the litigation involving Viacom's controlling shareholder, National Amusements, Inc.
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National Amusements did not immediately respond to CNBC's request for comment.
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But inside it's an enchanted toy chest of contemporary art amusements.
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Was National Amusements within its rights to change the CBS bylaws?
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I countered:Your amusements can remainas long you rank first in class.
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The two media companies are controlled by Sumner Redstone's National Amusements.
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In interviews he frames the series as wry amusements, no more.
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Her family's company, National Amusements Inc, controls both CBS and Viacom.
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National Amusements denied it had any plan to oust CBS's board.
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The Sumner M. Redstone National Amusements Inc Trust owns about 80 percent of Redstone's privately held movie theater company, National Amusements, which in turn owns 80 percent of the voting rights in both Viacom and CBS.
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The Sumner M. Redstone National Amusements Inc Trust owns about 80 percent of Redstone's privately held movie theater company, National Amusements Inc, which in turn owns 80 percent of the voting rights in both Viacom and CBS.
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National Amusements has twice tried but failed to combine the media companies.
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They also don't plan on hitting the amusements again any time soon.
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Then there are the amusements that you won't find in the brochures . . .
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Sumner Redstone's National Amusements withdrew its merger proposal for CBS and Viacom.
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Mr. Dauman has been removed only from the trust and National Amusements.
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Yet National Amusements has its own board and is a functioning company.
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National Amusements is the owner of 80 percent of Viacom's voting stock.
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Redstone is president of National Amusements, which controls both Viacom and CBS.
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National Amusements owns 80 percent of voting shares of both media companies.
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The parties featured such amusements as a limbo contest and professional contortionists.
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The King of Retired Amusements shuffles across the threshold into his dominion.
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The parties featured such amusements as a limbo contest and professional contortionists.
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The Redstones control both companies through their private theater chain, National Amusements.
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Viacom's former CEO Philippe Dauman was on the board of National Amusements as well as a member of the seven-person trust that takes over Sumner Redstone's stake in National Amusements after he dies or is declared incapacitated.
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According to people familiar with the talks, CBS would drop its attempt to strip National Amusements of its voting control, and National Amusements would refrain from pushing for a merger of CBS and Viacom, which it also controls.
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National Amusements pledged not to propose a merger for at least two years.
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Redstone's privately owned National Amusements is the largest shareholder in Viacom and CBS.
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In connection with the Viacom director removal, National Amusements' board ratified the removal.
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The combination reunites the two media companies controlled by Sumner Redstone's National Amusements.
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Representatives for National Amusements and Viacom denied such a plan to Business Insider.
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But both National Amusements and Viacom denied such a plan to Business Insider.
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National Amusements, however, has its own working board and is an operating company.
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N). National Amusements Inc, through which Redstone controls Viacom and CBS Corp (CBS.
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National Amusements owns 80 percent of the voting shares of both media companies.
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It featured amusements such as a penny arcade and an electric swing ride.
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And so, as we head into July, the question now is whether National Amusements can convince the Delaware judge that since all of the parties here – the Redstones, National Amusements, and the trust — are in agreement, Mr. Redstone's competency is irrelevant.
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CBS and National Amusements are also scheduled to battle it out in a Delaware court in October over CBS's plan to issue a special dividend aimed at cutting National Amusements' voting power in the company to 17 percent from 80 percent.
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National Amusements, which controls both, has asked the two to examine a possible deal.
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A representative of CBS controlling shareholder Shari Redstone and National Amusements declined to comment.
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The trust will eventually control National Amusements (which is currently controlled by Mr. Redstone).
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And as of now, National Amusements is a functioning company with its own board.
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Massachusetts, California, Delaware and even Maryland, where National Amusements is incorporated, are all possibilities.
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National Amusements went to a Delaware court to validate the moves after announcing them.
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And so National Amusements simply delivered its consent to these changes to the company.
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National Amusements, founded by Redstone's father, Sumner, owns an 80 percent of each company.
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Step 2: Remove Mr. Dauman as a director of National Amusements, Viacom's controlling shareholder.
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Moonves has been embroiled in a public dispute with principal owner National Amusements Inc.
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National Amusements owns about 80 percent of the common stock of CBS and Viacom.
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National Amusements does not currently intend to make any further comments regarding the process.
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Both companies are controlled by National Amusements, which is owned by the Redstone family.
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A National Amusements spokesman declined to comment on behalf of the company and Redstone.
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"We look forward to demonstrating the integrity of these changes, which were ratified unanimously by National Amusements' board and would be approved again by a majority regardless of the outcome of this case," Stephen Labaton, a National Amusements spokesman, said on Friday.
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Reuters reports that Redstone will name National Amusements general counsel Tad Jankowski to the trust.
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CBS and Viacom are controlled by National Amusements, which is owned by the Redstone family.
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Plaintiffs in the legal complaint include directors of National Amusements, which controls Viacom and CBS.
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Representatives for Viacom and National Amusements, Redstone's privately held movie theater company, declined to comment.
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Through National Amusements, Redstone owns 80 percent of the voting shares of CBS and Viacom.
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The clip features one nonchalant man with a very straightforward approach to water park amusements.
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A court should simply look at the National Amusements board and whether it validly voted.
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In this situation, there is no inquiry into National Amusements, but into Mr. Redstone himself.
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Mr. Dauman has a duty of loyalty to Viacom and its shareholders, including National Amusements.
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Mr. Moonves complained that she "liked Mr. Bakish more than him," according to National Amusements.
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Let Children Get Bored Again Boredom teaches us that life isn't a parade of amusements.
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The legal saga between CBS and Redstone family-controlled National Amusements may soon be over.
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National Amusements asked the Delaware Court of Chancery to rule that the board changes are legal.
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National Amusements has changed Viacom's bylaws to require unanimous approval of any sale related to Paramount.
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Both companies, controlled by National Amusements, are expected to rekindle merger talks in the coming months.
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It is unclear when the directors that National Amusements moved to replace will leave the board.
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In my previous writings I had assumed that the Viacom shares were voted by National Amusements.
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National Amusements in turn owns 80 percent of the voting stock in both CBS and Viacom.
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Would National Amusements be barred from voting its shares for the duration of Mr. Redstone's infirmity?
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His National Amusements holding controls about 80 percent of the voting shares in Viacom and CBS.
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On Saturday, the parties announced that the five directors nominated by National Amusements would be appointed.
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CBS' board has voted to dilute the voting power of its majority owner, National Amusements Inc.
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Representatives for Viacom and National Amusements Inc, Redstone's privately held movie theater company, declined to comment.
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That dividend is aimed at cutting National Amusements' voting power to 17 percent from 80 percent.
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According to the National Amusements complaint, Ms. Redstone wasn't trying to wrest control of CBS's board.
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Three members of the CBS board are directly nominated by National Amusements, including Ms. Redstone's seat.
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From 2000, when National Amusements acquired CBS, until 2006, the two companies were a single entity.
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The King of Retired Amusements collapses onto the boarding platform and dry heaves through the grate.
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The Redstones have controlling stakes in both CBS and Viacom through their privately held National Amusements.
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With the addition of Krutick and Jankowski, who has worked with Redstone's National Amusements since 1982, the trust appears to give Redstone's daughter, Shari Redstone, who is president and a board member of National Amusements, control to determine the fate of her father's $40 billion media empire.
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If the dividend is approved, National Amusements' voting rights in CBS would shrink to about 17 percent from about 80 percent, more in line with National Amusements' economic stake in CBS of 10.3 percent, according to CBS's lawsuit, filed with the Court of Chancery in Delaware.
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She is currently the president of National Amusements and the vice chairman of both CBS and Viacom.
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Shari Redstone, whose National Amusements controls CBS and Viacom, is seeking to combine the two media companies.
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Under the settlement, the board would add the five directors that National Amusements put forward in June.
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CNBC reported that CBS and National Amusements are working on a settlement to end the legal spat.
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Through National Amusements, Mr. Redstone controls about 80 percent of the voting shares in Viacom and CBS.
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So it appears that National Amusements can amend Viacom's bylaws at any time to eliminate this requirement.
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Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal.
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National Amusements filed documents in Delaware court on Thursday seeking to validate its changes to Viacom's board.
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This would be tantamount to admitting that Mr. Redstone and National Amusements can also remove the board.
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This would allow National Amusements to raise the ante if Viacom does litigate over the amended bylaws.
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National Amusements has said it doesn't intend to force a merger that isn't supported by both companies.
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Mr. Redstone then had to borrow $100 million from National Amusements to cover it, the suit says.
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The recent drama between CBS and its parent National Amusements could also change how different deals unfold.
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National Amusements is Redstone's privately held movie theater company through which he owns 80 percent of Viacom.
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First, Mr. Dauman was removed from his seats positions on the board and trust of National Amusements.
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They are Ms. Redstone and Robert N. Klieger, who has worked as a lawyer for National Amusements.
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Mr. Moonves is separately embroiled in a legal dispute with Shari Redstone, the head of National Amusements.
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His eponymous D.A.Z. Amusements supplied "Joker Poker" slot machines to mob-controlled gambling hubs, court documents show.
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We benefit, as you say, from National Amusements common control, in the context of the merger process.
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However, as early as 1918 she began painting areas of the city and amusements that interested her.
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Company executives back the plan, but National Amusements, the holding company of Viacom founder Sumner Redstone, does not.
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But business called in 1954, and he turned to the family's movie theater business, eventually named National Amusements.
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A spokeswoman for Shari Redstone, who sits on the boards of CBS and National Amusements, also declined comment.
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Viacom — Sumner Redstone-controlled National Amusements is recruiting potential new board members, according to The Wall Street Journal.
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This follows the ouster of Viacom chief Philippe Dauman and a board member from the National Amusements board.
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While your dog may not care much about all that entertainment, the Roxy's got plenty of other amusements.
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Dauman has contested his ouster from the trust and the board of National Amusements in a Massachusetts lawsuit.
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A stereotyped but unconscious despair is concealed even under what are called the games and amusements of mankind.
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National Amusements "is not opposed to a transaction that would unlock value at Paramount," the company's statement said.
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Redstone controls about 80 percent of Viacom's Class A voting shares through his holding company, National Amusements Inc.
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If he is incompetent, National Amusements votes the Viacom shares directly, and it has ratified Mr. Redstone's actions.
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Indeed, National Amusements won one point, getting the judge to hear a motion on this issue in July.
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National Amusements holds about a 10 percent stake in Viacom — but nearly 80 percent of Viacom's voting stock.
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Mr. Redstone controls the media companies through National Amusements, the private theater chain company started by his father.
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CBS sued her over her decision to merge CBS with the Redstone family-controlled trust, National Amusements Inc.
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The Delaware case concerns the move made in June by National Amusements to replace five Viacom board members.
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A Viacom spokesman confirmed it had received the letter from National Amusements, which was first reported by CNBC.
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Ms. Krutick was also named to the board of National Amusements, along with Ms. Redstone's daughter, Kimberlee Ostheimer.
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Mr. Dauman was unexpectedly dismissed from the trust and removed from the board of National Amusements on Friday.
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National Amusements (NAI) said it was compelled to act to protect its controlling position and the media company.
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Through National Amusements, the Redstone family controls about 80 percent of the voting stock in CBS and Viacom.
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Soon after, National Amusements moved to reorder Viacom's board, a precursor to overhauling the struggling company's executive team.
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That is according to Ms. Redstone and National Amusements; CBS denies that Mr. Moonves made any such remarks.
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Shari Redstone, the president of CBS parent company National Amusements, has been trying for years orchestrate a reunion.
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What to check out nearby The Coney Island Museum is the appetizer to the day's smorgasbord of amusements.
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FABER: YOUR CONTROLLING SHAREHOLDER NATIONAL AMUSEMENTS RECENTLY REACHED A SETTLEMENT WITH A DIFFERENT MEDIA COMPANY KNOWN AS CBS.
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A previous attempt to merge was scuttled when CBS sued National Amusements, which controls both CBS and Viacom.
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A previous attempt to merge was scuttled when CBS sued National Amusements, which controls both CBS and Viacom.
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Examining our games, we have found the Times readership to represent a wide range of tastes in amusements.
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"While National Amusements is not opposed to a transaction that would unlock value at Paramount, it firmly believes that any proposed transaction should be thoroughly vetted and approved by Viacom's full board, and the rationale for such a transaction should be clearly articulated to Viacom's stockholders in advance," National Amusements said.
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I have loved my phones for their utility and their amusements and their simple always-on always-on-ness.
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A group of boys hang around in the amusements arcade at Butlins Holiday camp in Skegness, England, on Aug.
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National Amusements said on Thursday it removed Dauman, George Abrams, William Schwartz, Blythe McGarvie and lead independent director Salerno.
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Redstone holds 80 percent of the voting shares in Viacom and CBS through his National Amusements Inc holding company.
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National Amusements holds the majority shares in CBS and Viacom and is owned by the extremely powerful Redstone family.
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Redstone controls about 80 percent of the voting shares in CBS and Viacom through a holding company, National Amusements.
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Six will come from independent members from CBS, four independent members from Viacom, Bakish, and two National Amusements members.
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Mr. Salerno asked the Delaware court to block the director changes, while National Amusements petitioned to have them validated.
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In the hearing Mr. Wolfe said that if Mr. Redstone were declared incompetent, then National Amusements votes the shares.
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National Amusements currently controls Viacom through a high-vote Class A stock, which has 79.8 percent of the votes.
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Another 9,000 jobs were lost in the "amusements, gambling and recreation" category reported by the Bureau of Labor Statistics.
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" Separately, Viacom announced that its board had "received a letter from National Amusements requesting that it explore a combination.
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National Amusements said none of the new directors are affiliated with National Amusments, Viacom or any Redstone family trust.
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He remains chairman emeritus and a director of Viacom and CBS and controls the two companies through National Amusements.
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Mr. Redstone was thoroughly in control through National Amusements, having had five chief executives in the last two decades.
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Both companies are controlled by National Amusements Inc, which is owned by the family of media mogul Shari Redstone.
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A Viacom spokesman called the actions "illegitimate," stating that they stemmed from "invalid changes" to the National Amusements' board.
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All but one panel member was recently added to the company's board by the Redstones' holding company, National Amusements.
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There were also no questions about CBS' ongoing legal fight for independence with its parent company, National Amusements Inc.
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Earlier on Wednesday, National Amusements amended CBS's bylaws to thwart the company's directors from issuing a special stock dividend.
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She did all the things that her father before her had done to earn a place into National Amusements.
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Redstone and National Amusements can't propose a deal for many more months, according to a 2018 settlement with CBS.
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Shari Redstone, the president of CBS's parent company National Amusements, has been trying for years to reunite the two.
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Redstone and National Amusements couldn't propose a deal for many more months, according to a 2018 settlement with CBS.
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Debevoise represented Viacom when Shari Redstone, the president of National Amusements, sought to merge it with CBS in 2016.
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Capsule histories of some of 21th-century America's best-loved dolls, toys and other amusements for young and old.
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The King of Retired Amusements, lord of salvage and recoup, is not in the business of leaving things behind.
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Ms. Redstone, who controls the remaining 20 percent of National Amusements, has publicly feuded with her father over the years.
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National Amusements, which controls CBS Corporation and Viacom, sent a message to the boards of the companies declining the deal.
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For its amusements business, expansion into virtual reality games helped same-store sales for the division increase by 1.5 percent.
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In April, before CBS sued National Amusements, Redstone's holding company had dropped support for a merger, according to legal filings.
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The two companies are controlled by National Amusements, the holding company owned by billionaire Sumner Redstone and his daughter Shari.
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The talks come as CBS is in a legal battle with Shari Redstone's National Amusements over control of the company.
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In its statement on Monday, National Amusements said that its move regarding Paramount was not connected to that legal dispute.
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CBS and Viacom previously put pencils down on negotiating a merger that controlling shareholder National Amusements has been pushing for.
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And it would avoid some thorny questions: If National Amusements cannot act here, what about the next election of directors?
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The company would be asserting that National Amusements' own actions are void because of the incapacity of its controlling shareholder.
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If Viacom does pursue litigation, this may be National Amusements' and Mr. Redstone's cue to finally unseat the Viacom board.
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National Amusements can do this easily by removing and replacing the directors pursuant to a simple consent delivered to Viacom.
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He added that the legal developments would "create a better environment" for a Paramount transaction, which National Amusements has opposed.
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He simply removed Mr. Dauman and Mr. Abrams as trustees and also Mr. Dauman as a director of National Amusements.
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Ms. Redstone is a director and president of National Amusements, where she holds a position of authority over Mr. Jankowski.
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" She said that Ms. Redstone and her family were "well provided for by the multibillion-dollar company National Amusements Inc.
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After Mr. Redstone dies, his stake in National Amusements will go to a trust created to benefit his five grandchildren.
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He was spending more time in New York with Viacom and wanted more family oversight over National Amusements in Boston.
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After helping National Amusements negotiate its debts, Ms. Redstone decided it was time to set off on her own path.
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CBS and Viacom rose after Sumner Redstone's National Amusements, which controls both companies, said it wanted them to combine again.
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National Amusements said on Monday it did not intend to replace the board, but on Wednesday signaled that had changed.
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Here was strong pot, free love, spectral amusements, acid trips and epic intellection that no one remembered in the morning.
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And CBS and Viacom had coexisted, in relative peace, as a united company within National Amusements from 2000 to 2006.
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SHARI REDSTONE is a onetime criminal defense lawyer who has been the president of National Amusements for nearly two decades.
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The Pioneer Cabin tree was one of several "tunnel trees" that had been carved out and served as human amusements.
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In 2016, National Amusements waged a legal battle and took back control of Viacom after ousting its CEO Philippe Dauman.
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National Amusements, owned by media baron Sumner Redstone and his daughter Shari Redstone, is the majority shareholder of Viacom and CBS.
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I grew up steeped in the language of hype, beyond even the typical American boyhood of endless pitches and commercial amusements.
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The Redstone family, whose National Amusements also controls CBS, had proposed recombining the two media giants a decade after they split.
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Sumner Redstone and his family own a controlling stake in Viacom and CBS through privately held movie theater company, National Amusements.
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National Amusements owns 80 percent of the voting shares of both media companies, which separated from each other 10 years ago.
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Sumner Redstone's privately-held movie theater chain National Amusements holds 80 percent of the voting stock in both Viacom and CBS.
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It seeks to invalidate the removal of Dauman and Abrams as directors of National Amusements, Redstone's privately held movie theater chain.
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On Friday, Sumner Redstone removed both Dauman and Abrams from the trust and from the board of directors of National Amusements.
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Food and beverage same-store sales rose by 1.1 percent, while amusements and other same-store sales increased by 4.4 percent.
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Sumner Redstone in May removed Dauman and Viacom board member George Abrams from the Sumner M. Redstone National Amusements Inc Trust.
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The merging companies are controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone and his daughter, Shari.
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National Amusements was advised by Evercore as its financial adviser and by Cleary Gottlieb Steen & Hamilton LLP as its legal counsel.
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As for a stay in discovery, National Amusements and the Redstone camp want to avoid a medical examination of Mr. Redstone.
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That way the trust gains control of National Amusements and thus Viacom, and they can act to prevent their own removal.
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The two companies are controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone and his daughter, Shari.
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A CBS-Viacom deal would represent a solution of what to do about Viacom for National Amusements and the Redstone family.
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In September, National Amusements called on Viacom and CBS to consider recombining, 10 years after Viacom was spun off from CBS.
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Viacom has not done so yet, presumably because it is trying to decide how to deal with National Amusements' latest action.
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If Viacom accepts the changes, the entertainment conglomerate will be admitting that National Amusements can act appropriately in regard to Viacom.
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And as part of the amendments, National Amusements required that any dispute over the bylaws be litigated in a Delaware court.
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The agreement also calls for Viacom's board to expand to include five new directors that National Amusements put forward in June.
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Sumner Redstone, who owns National Amusements and is the controlling shareholder in Viacom and CBS, is 93 and in poor health.
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Sumner Redstone and his family own controlling stakes in Viacom and CBS through privately held movie theater company, National Amusements Inc.
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Ms. Redstone's daughter, Kimberlee Ostheimer, was also put forth to serve on the board of National Amusements, the three people said.
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A Delaware judge has just ruled against CBS, in its effort to strip company control from Shari Redstone's National Amusements Inc.
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Redstone's privately held movie theater company, National Amusements Inc, owns 80 percent of the voting shares of both Viacom and CBS.
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Yes, Ruth had helped him win the 1918 World Series, but the Great War had disrupted the public appetite for amusements.
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The mogul controls about 80 percent of the voting shares of Viacom and CBS through his National Amusements movie theater company.
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Moonves has opposed efforts by Shari Redstone for CBS to merge with media company Viacom Inc, also owned by National Amusements.
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Sumner Redstone's daughter took control of her 94-year-old father's media empire, National Amusements, last year as his health declined.
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Redstone's National Amusements is the principal shareholder of both companies, which had split into separate publicly traded corporations in late 2005.
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The combined entity, ViacomCBS, is controlled by National Amusements, the holding company owned by billionaire Sumner Redstone and his daughter, Shari.
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National Amusements brought these concerns up again with CBS last week, according to one of the sources familiar with the situation.
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CBS's lawsuit comes after its merger negotiations with smaller peer Viacom, which National Amusements also controls, failed to produce a deal.
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Redstone made the move through his privately held movie theater company National Amusements Inc, which holds 80 percent of Viacom's voting shares.
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Shari Redstone has a seat on CBS's 14-member board, alongside her personal lawyer Robert Klieger and National Amusements Director David Andelman.
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National Amusements, in a statement on Friday, said there was "no justification" for Viacom's funding of the legal fight against Sumner Redstone.
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Redstone has already exercised his controlling interest to remove Dauman and Abrams from his family trust and the board of National Amusements.
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Redstone's privately held movie holding company, National Amusements Inc, owns 80 percent of the voting shares of Viacom as well as CBS.
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Viacom, CBS — Controlling shareholder National Amusements has issued a letter to the boards of both companies, urging them to explore a merger.
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If the CBS-Viacom deal gets done, Redstone's National Amusements would like to move quickly with a second deal, the people said.
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Gambling wasn't the chief reason—the church, against amusements of all kinds, warned that card playing led to the sin of unchastity.
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National Amusements has said it will not support any other transaction, nor will it give up its controlling interest in the companies.
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There's an opportunity for national amusements to partner with the public markets going forward and we hope that's the path they choose.
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National Amusements can do this, but it would take months and give time for Mr. Dauman and perhaps Viacom to fight back.
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In both cases, the courts ruled against Viacom's controlling shareholder — National Amusements — as well as Sumner M. Redstone and his daughter, Shari.
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The two media giants split back in 2006, although the Redstone family maintained control through National Amusements, a privately held holding company.
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National Amusements did not detail the exact bylaws it was adopting, instead choosing to put out a news release describing the changes.
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Eric Gilbert, who owns nonvoting stock in Viacom, filed a class-action lawsuit in Delaware against National Amusements, Viacom and Viacom directors.
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Chancellor Andre Bouchard's ruling would allow Shari Redstone and National Amusements to block that dividend, which would have cut their voting power.
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Shares of CBS plunged Thursday after a judge said National Amusements, controlled by the Redstone family, can challenge CBS' voting control plan.
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Another legal battle emerged in June, when National Amusements moved to replace Mr. Dauman and four other directors on the Viacom board.
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Numberplay This week's challenge was suggested by Greg Ross, creator and curator of the Futility Closet, the online miscellany of compendious amusements.
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CBS Corp and Viacom - both controlled by Sumner and Shari Redstone's National Amusements Inc - plan to close the merger by early December.
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Step 3: Sue in Los Angeles County Superior Court to establish the validity of the trustee removal and the National Amusements removal.
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Mr. Redstone maintains leadership over the companies through his control of National Amusements, the private theater chain company started by his father.
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O) said it had formed a special committee to consider National Amusements Inc's proposal to combine the company with CBS Corp (CBS.
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N) and its controlling shareholder National Amusements Inc, owned by the Redstone family, which wants to merge it with Viacom Inc (VIAB.
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Moonves clashed with Shari Redstone earlier this year over her bid to merge CBS with Viacom Inc, also owned by National Amusements.
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The company, which is controlled by Shari Redstone through her family company, National Amusements, also installed a newly configured board of directors.
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National Amusements argued that CBS's bid to shrink Ms. Redstone's influence over the company was "invalid" and a violation of its bylaws.
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In a statement to PEOPLE, ride owner Skelly's Amusements says it received the "Extreme" back from police and has begun dismantling it.
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The sibling companies under the Redstone family's National Amusements corporation had, at various points in their histories, existed as one corporate entity.
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The two companies were one and the same, within the Redstones' company, between 2000 and 2005, when National Amusements split them apart.
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"National Amusements exercised its legal right to amend CBS's bylaws, and this change was effective immediately," the company said in a statement.
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The change, which is effective immediately, was made "to protect long-term interests of stockholders," National Amusements said in a news release.
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She lives in the shadow of Disney World, in a stretch of central Florida dominated by cheap thrills and off-brand amusements.
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Shari Redstone has a seat on CBS's 14-member board, alongside her personal lawyer Robert Klieger and National Amusements director David Andelman.
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Upon Mr. Redstone's death, his stake in National Amusements is to be held by an irrevocable trust created to benefit his five grandchildren.
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National Amusements could exercise its voting power in such a meeting to oust directors it sees as loyal to Moonves, analysts have said.
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That "the games and amusements of mankind" only exist to shield me from the torture of simply existing in our late capitalist hellscape.
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A CBS-Viacom could close quickly -- possibly by the end of 2019 -- because National Amusements controls both companies, two of the people said.
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National Amusements Inc, through which Redstone controls Viacom and CBS Corp, said Viacom's third-quarter results highlighted the need for a leadership change.
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Amusements of America, which operates the Fireball-style attraction, reported that it had been vetted multiple times by its staff and independent inspectors.
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Started by Wang as a property developer in China's northeast, Wanda now owns theaters, massive shopping malls and amusements parks around the country.
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That board can take this action so long as Mr. Redstone does not oppose it and try to remove the National Amusements board.
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That play is sure to be the prickliest pear in a season filled with amusements, oddities, and reckonings with America's past and present.
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Shari Redstone and her father, Sumner Redstone control Viacom Inc and CBS corp through their privately held movie theater company National Amusements Inc.
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She is the vice chairman of Viacom and CBS; president of National Amusements and managing partner of the venture capital firm Advancit Capital.
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National Amusements could do this because it owns 79.8 percent of the voting interest in Viacom despite having a 10 percent economic interest.
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CBS shares plunged 6 percent Thursday after a Delaware judge ruled in favor of National Amusements' bid to challenge a voting-control plan.
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Thomas J. May, one of the people that National Amusements has put forward as a new director, is expected to be named chairman.
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The Redstone family controls about 80 percent of the voting stock in CBS and Viacom through National Amusements, a private theater chain company.
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National Amusements can then choose three of the six independent directors up for election, meaning three current board members will retain their seats.
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On April 3, CNBC's David Faber reported CBS's proposed merger terms — which is how Ms. Redstone first learned them, according to National Amusements.
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Seven directors remained on the board, including two who are affiliated with National Amusements, the Redstone family company that controls CBS and Viacom.
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The longtime pleasures of Atlantic City — the gambling, the funnel cake and the amusements — never change and should be enjoyed to the fullest.
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Dubbed The Understory, the space sells graphic novels, L.G.B.T.Q. literature, puzzles and other amusements, all while offering a place to sit and read.
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Dubbed The Understory, the space sells graphic novels, L.G.B.T.Q. literature, puzzles and other amusements, all while offering a place to sit and read.
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The latest developments end years of uncertainty over the future of CBS, which was headed to court with National Amusements on Oct. 3.
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The Redstones control both CBS, which has a market value of $22 billion, and Viacom, $13 billion, through their privately held National Amusements.
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The colonists split into "divisions," then subdivided the divisions into hundreds of different "departments," like a Hand-Craft Department and an Amusements Department.
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But instead of a genteel world of aristocratic amusements, he found himself plunged into one of the bloodiest battles of the Pacific campaign.
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Sumner Redstone plans to name National Amusements general counsel Tad Jankowski and family friend Jill Krutick to the trust, sources told Reuters on Sunday.
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Skelly's Amusements, the company that operates rides at the festival, said it was fully cooperating in the investigation, in a statement posted on Facebook.
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The coffins were part of an escape game called "Boxed Up," hosted by a venue in Brooklyn that offers a variety of such amusements.
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The terms: CBS also announced a settlement to end its legal battle with majority shareholder Shari Redstone and her holding company National Amusements Inc.
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He owns 22014 percent and she owns 2007 percent of National Amusements, the private business that controls two giant media companies — Viacom and CBS.
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Beneath a hill not far away from the amusements, Tencent, an internet giant, has finished excavating a bomb-proof cavern with five massive entrances.
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National Amusements Inc, the Redstone family company that controls CBS and Viacom, has pushed them to negotiate a merger by forming independent board committees.
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On May 20, Mr. Redstone unexpectedly ejected Mr. Dauman and George Abrams, two longtime confidants, from the trust and the board of National Amusements.
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He controls about 80 percent of the voting shares in the companies through National Amusements, the private theater chain company started by his father.
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A Delaware judge said last week that he would schedule a hearing in July in a case about whether National Amusements' move was valid.
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In the Delaware proceeding, the disclosure that Mr. Redstone executes the proxy for the National Amusements shares also meant that a trial was likely.
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And what about the fact that the court would be acting to entrench the current directors over National Amusements' new slate of independent directors.
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There is a third option for Viacom: The company can claim that National Amusements' amendments are void because of claims of Mr. Redstone's incompetency.
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National Amusements is controlled by the Redstone family, which has been trying to merge CBS and Viacom, both of which fall under its umbrella.
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National Amusements last month moved to replace five Viacom directors, setting the stage for the ultimate firing of Mr. Dauman as Viacom's chief executive.
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Mr. Dauman was also ejected from the board of National Amusements, the private theater chain company through which Mr. Redstone controls Viacom and CBS.
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Controversy erupted in recent weeks after Mr. Redstone suddenly ousted Mr. Dauman and Mr. Abrams from the trust and the board of National Amusements.
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And in 2008 she helped National Amusements refinance debt payments that ultimately forced the sale of Viacom and CBS shares, which he had opposed.
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The backstory: CBS has stood by Moonves throughout a publicly contentious fight with its primary shareholder, Shari Redstone, Vice Chairwoman of National Amusements Inc.
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During that battle, National Amusements alleged that a member of the CBS Board of Directors physically and verbally abused another member of the Board.
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A CBS board committee in May turned down the potential merger with Viacom and sued to strip National Amusements of its control of CBS.
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One room will be devoted to the interactive games Mr. Le Parc began developing around 1964, many of which evoke arcade or carnival amusements.
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Even so, Mr. Redstone will continue to control his $40 billion media empire through his National Amusements holding company, where he remains chief executive.
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Ms. Redstone's father, the media mogul Sumner M. Redstone, took control of Viacom in 1987, through National Amusements, and then acquired CBS in 2000.
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While Redstone could have forced a merger to give National Amusements control of both CBS and Viacom, she found Bakish's turnaround plan more appealing.
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National Amusements, however, does not currently want to sell either company, according to people familiar with the matter who requested anonymity discussing confidential deliberations.
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The iconic Zoltar fortune-teller machine remains the most famed example of automated amusements, largely thanks to its role in Tom Hanks' movie Big.
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The piece on death themed amusements had its genesis in the time I spent as Artist in Residence at The Coney Island Museum in 173.
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The move was subsequently confirmed in a message Monday from National Amusements — the Redstone family's privately held company — to the boards of CBS and Viacom.
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Meanwhile, National Amusements would agree to abstain from pushing for a merger between CBS and Viacom, the Journal reported, citing sources familiar with the matter.
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But any offer CBS might make for the voting shares would have to be rich enough for National Amusements and other voting shareholders to accept.
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Last month, Redstone ejected Dauman and another director from the board of National Amusements Inc, which controls 80 percent of the voting shares of Viacom.
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Should the tie-up ultimately occur, National Amusements would likely pivot to a second deal, people familiar with the matter told CNBC earlier this year.
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Viacom — The media giant has resumed settlement talks with Sumner Redstone-controlled National Amusements to end the litigation between the two, according to multiple reports.
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Mr. Redstone also ejected them from their positions on the board of the theater chain company National Amusements, through which Mr. Redstone controls his companies.
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Mr. Dauman was also removed from the board of National Amusements, the private theater chain company through which Mr. Redstone controls both Viacom and CBS.
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Mr. Dauman and Mr. Abrams were also removed as directors of National Amusements, the holding company that owns a controlling interest in Viacom and CBS.
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After all, "without cause" means for any reason and the court would be ruling on the capacity of National Amusements, a real company, to act.
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National Amusements, the Redstone family company that controls CBS and Viacom, has pushed the two sides to negotiate a merger by forming independent board committees.
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On Thursday, Sumner M. Redstone's National Amusements company announced that it had moved to replace Mr. Dauman and four other directors on the Viacom board.
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Mr. Redstone controls about 80 percent of the voting shares in Viacom and CBS through National Amusements, the theater chain company started by his father.
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Mr. Redstone has said through representatives that he disapproved of a deal for Paramount, yet until Friday neither he nor National Amusements specifically outlined why.
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CBS and Viacom are both controlled by ailing Sumner Redstone, 94, and his daughter Shari, through their privately owned movie theater company, National Amusements Inc.
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But Mr. Moonves already had a fight on his hands — with Shari Redstone, who leads CBS's parent company National Amusements, about merging CBS and Viacom.
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He owns 80 percent of the vote in National Amusements, which in turn owns 80 percent of the voting rights in CBS and also Viacom.
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Showcase Cinemas, owned by National Amusements, also said it would close its theaters in North America and is expected to resume operations by April 7.
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That's right and we're going to see that very structure tested this summer, actually, in the litigation between CBS and Shari Redstone and National Amusements.
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But my recollection was the boardwalk was still open and there were amusements and rides, and that part of the town hadn't shut down yet.
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But his role as company head has been in jeopardy because of his part in a continuing legal battle against CBS's parent company, National Amusements.
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CBS filed a response to National Amusements saying that Ms. Redstone's opposition to the special meeting is proof that CBS need a temporary restraining order.
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The deal is a victory for Shari Redstone, who has been a trailblazer as president of National Amusements, the conglomerate that controls CBS and Viacom.
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In exchange, National Amusements would back off its attempts for a reunification of CBS and Viacom, the Journal reported, citing people familiar with the matter.
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National Amusements believes a deal is needed for the two media companies to gain scale and compete with growing internet powers Netflix Inc and Amazon.
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Can you tell me a bit about what drew you to Death-Themed Amusements, and how you went about researching this bizarre blip in entertainment history?
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Redstone and National Amusements sought the approval of the Court of Chancery in Delaware — the state where Viacom is incorporated — to kick off the board members.
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One of the most popular medieval amusements is the subject of "The World in Play: Luxury Cards 1430—1540", at the Cloisters Museum in New York.
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Redstone and National Amusements sought the approval of the Court of Chancery in Delaware - the state where Viacom is incorporated - to kick off the board members.
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It has been fought in the name of Sumner Redstone, the ailing 93-year-old mogul who controls Viacom through his family's private company, National Amusements.
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National Amusements, owned by media baron Sumner Redstone and his daughter Shari Redstone, on Thursday urged the boards of Viacom and CBS to explore a combination.
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Amusements begins search for new Viacom directors; Kenneth Lerer, Nicole Seligman, Judith Mchale considered - CNBC citing DJ Further company coverage: (Bengaluru Newsroom: +1 646 646 8780)
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He argued that replacing him and Abrams on the trust and the National Amusements Inc board would lead to an unlawful corporate takeover by Shari Redstone.
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If I'm reading all this right, the bottom line is that if National Amusements wants, it can act to replace the Viacom board at any time.
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In May, along with Mr. Dauman, he was ousted from the trust and the National Amusements board, and is challenging the dismissals in a Massachusetts lawsuit.
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Mr. Redstone controls about 80 percent of the voting stock in Viacom and CBS through National Amusements, the private theater chain company started by his father.
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While Mr. Dauman has pushed for the deal, Mr. Redstone's National Amusements holding company has opposed the transaction and the board is unlikely to approve it.
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Mr. Dauman and Mr. Abrams were also dismissed from the board of National Amusements, the private theater chain through which Mr. Redstone controls Viacom and CBS.
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That comes down to what sort of strategy the new board, in conjunction with the Redstone family, which controls Viacom through National Amusements, wants to pursue.
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In June, National Amusements moved to replace five Viacom board members, an action widely considered to be the precursor for ousting Mr. Dauman as chief executive.
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Through a private theater chain company, National Amusements, founded by his father, Mr. Redstone controls about 80 percent of the voting shares in Viacom and CBS.
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Mr. Moonves is well placed to drive a hard bargain with the Redstones, who control both companies with voting stock held through their National Amusements vehicle.
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"Wonder Wheel," starring Juno Temple, Kate Winslet and Justin Timberlake, sets its melodramatic tale of love and betrayal amid the vintage beachside amusements of Coney Island.
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Shari controls both CBS and Viacom through voting shares owned by her family's company, National Amusements, and she isn't going to give up any voting shares.
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Reserved seats in the front were occupied by several CBS executives and board directors, including Shari Redstone, who controls CBS through her family company, National Amusements.
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Mr. Redstone controls about 80 percent of the voting shares in Viacom and CBS through National Amusements, the private theater chain company started by his father.
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Legal experts say that National Amusements has fiduciary duties to shareholders of each company, but that the Redstones unquestionably have the power to replace board members.
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In 2014, she declined a $1 billion buyout offer from her father for her stake in National Amusements, according to a person with knowledge of the discussions.
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But on May 14, 2018, CBS filed a lawsuit against National Amusements, its largest shareholder, that claimed the merger was against the best interest of both companies.
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CBS and Viacom last explored merging at the urging of ailing media mogul Sumner Redstone, 94, and Shari Redstone, who control both through privately held National Amusements.
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The Redstone family's National Amusements Inc holds 80 percent of the voting shares in CBS and Viacom, and has urged the two companies to consider a merger.
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The "aggressive thrill" has become one of the most popular thrill rides since its debut in 2002, Amusements of America, the rides' operator says on its website.
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CBS and Viacom have previously explored recombining at the urging of ailing Redstone, 94, and his daughter Shari Redstone, who control both through privately held National Amusements.
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National Amusements, and implicitly Mr. Redstone and his daughter, are adopting a go-slow approach, which allows for their side to be seen as reasoned and deliberate.
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But they will be arguing that National Amusements is not of sound mind, and that is not true: It is run by Ms. Redstone and its board.
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He continues to control 80 percent of the voting stock in the two companies through his ownership of National Amusements, the theater chain started by his father.
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National Amusements might instead promote a merger with no premium – after all, its interests make the price of any deal something close to a zero-sum game.
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At one point, after changes were made on the boards of National Amusements and Viacom, there were legal battles in three states in the fight for control.
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The controlling shareholder then responded in a manner similar to National Amusements by adopting a bylaw that required all future actions of the board to be unanimous.
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Mr. Dauman has already held talks about leaving Viacom and settling litigation with National Amusements, according to Bloomberg, which cites a person with knowledge of the matter.
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On Monday, National Amusements, the Redstone family business that holds its Viacom stake, changed Viacom's bylaws to require unanimous Viacom board support for any Paramount-related transaction.
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National Amusements, the privately held movie theater company owned by Sumner Redstone and his daughter Shari, own a majority of the voting shares of Viacom and CBS.
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Under the settlement, the board of Viacom added the five directors that National Amusements put forward in June, bringing the board to 15 directors after Dauman departs.
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In May, Mr. Redstone moved to replace Mr. Dauman and another longtime confidant of Mr. Redstone's, George Abrams, as directors of the trust that governs National Amusements.
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The current discussions have weighed on any potential tie-up of CBS Corp and Viacom, both of which are controlled by the Redstone family's National Amusements Inc.
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She learned she had cancer in 2017 and maintained a blog chronicling the day-to-day indignities, agonies, optimisms and dark amusements of living with the illness.
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While the exact nature of that conversation remains in dispute, the Redstone entity that controls CBS, National Amusements, has made clear its categorical opposition to any takeover.
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"National Amusements had absolutely no intention of replacing the CBS board or forcing a deal that was not supported by both companies," it said in a statement.
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Redstone moved to replace five directors last week and his National Amusements petitioned the court to affirm the move, but those directors filed suit to invalidate the dismissals.
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Viacom CEO Philippe Dauman and board member George Abrams were removed from National Amusements board and the trust that will eventually control Viacom and CBS Corp, last month.
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He described toyshops filled as full as Christmas stockings and plenty of grown-ups "indulging in amusements which the men of the West lay aside with their pinafores".
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Sumner Redstone is planning to name National Amusements Inc general counsel Tad Jankowski and family friend Jill Krutick to the seven-person trust, sources told Reuters on Sunday.
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CBS says that its board of directors and its parent company National Amusements announced that they reached a settlement this evening that would see Moonves step down immediately.
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The CBS board and Redstone, whose National Amusements controls about 80 percent of CBS' and Viacom's voting power, will then meet with the finalists to pick the candidate.
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Both CBS and Viacom, controlled by National Amusements, are expected to rekindle merger talks in the coming months after attempts to combine the two fell apart last year.
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The 93-year-old Redstone, whose holding company National Amusements controls the voting shares of Viacom and CBS, sued Holland and another ex-girlfriend, Manuela Herzer, last year.
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According to the Jolly Roger website, the amusement park offers "a wide range of family-friendly fun in Ocean City, Maryland with rides, amusements, games waterslides and more."
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These holograms could also be awesome additions to amusements rides and other entertainment, like the chess game, holographic photos and videos for advertising, and moving 3-D video.
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Shari Redstone, vice-chairwoman of National Amusements, the holding company for CBS and Viacom, is looking at potentially bringing the two broadcast giants back together, The Wrap reports.
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Shari Redstone and Sumner Redstone, her ailing 94-year-old father, together control both CBS and Viacom Inc through their privately owned movie theater company, National Amusements Inc.
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Unfortunately, National Amusements was not very clear on this point at the hearing, so it will have to do a good job explaining it again to the judge.
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The views you get from Prater Park — whether from the ferris wheel or another of the amusements — are incredible, and you see across pretty much the whole city.
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ISS has urged votes against Viacom directors in past years with little impact, because a majority of its voting shares are controlled by Redstone's holding company National Amusements.
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Litigation promptly ensued as National Amusements filed in a Delaware court to validate these actions and Viacom's lead independent director, Frederic V. Salerno, countered with his own suit.
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At that time, CBS also announced a deal to end litigation against controlling shareholder Shari Redstone and National Amusements Inc for control of the broadcaster and media company.
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National Amusements owns 80 percent of the voting shares of CBS and Viacom, but Mr. Redstone controls stock options and other shares of the companies, the lawsuit says.
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"National Amusements has tremendous respect for Les Moonves and it has always been our intention that he run a combined company," the holding company said in a statement.
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While the Viacom directors will try to argue that there is a conflict, it is hard to see how this establishes legal grounds to void National Amusements' actions.
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The ousted National Amusements directors, Mr. Dauman and George S. Abrams, promptly filed suit, challenging Mr. Redstone's competence and asserting that he had been manipulated by Ms. Redstone.
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The pair were also removed from the board of Redstone's National Amusements Inc, a private movie theater company that holds 80 percent of Viacom's and CBS's voting stock.
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The 92-year old Redstone on Friday removed Viacom Chief Executive Philippe Dauman and Viacom board member George Abrams from both the trust and the National Amusements board.
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Redstone is challenging a plan by CBS to issue a special dividend aimed at cutting National Amusements' voting power in the company to 17 percent from 80 percent.
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While National Amusements owns just over 10 percent of CBS's overall shares, Ms. Redstone and her family effectively have just under 80 percent of the company's voting power.
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While National Amusements owns just over 22009 percent of CBS's overall shares, Ms. Redstone and her family effectively have just under 215 percent of the company's voting power.
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The Redstone family controls about 80 percent of the voting stock in CBS and Viacom through National Amusements, the private theater-chain company started by Mr. Redstone's father.
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Privately held National Amusements said last month that a merger would allow the combined company to respond aggressively to the challenges of the changing entertainment and media landscape.
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It was only after the King of Retired Amusements arrived to take final ownership of the boardwalk that the boy was acquainted with the details of his lineage.
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Redstone, a Harvard-educated lawyer from Boston, became one of U.S. media's most powerful figures by building up his family's theater chain, National Amusements, starting in the 1950s.
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Five current independent directors and one National Amusements-affiliated director have stepped down from the board of directors and six new directors have been elected, the company said.
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It can hoist them up to 40 feet (12 meters) in the air and spin them at 13 revolutions per minute, according to Amusements of America, which operates rides.
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Moonves is locked in a battle over control of CBS with the company's largest shareholder, National Amusements Inc, which is owned by Shari Redstone and her father Sumner Redstone.
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Gabelli said if he were granted two wishes he'd first wish to solve the problems in the Mideast, and second to solve the problems at Viacom and National Amusements.
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National Amusements owns 80 percent of the voting shares of CBS and Viacom, but the media mogul controls stock options and other shares of the companies, the lawsuit said.
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Both CBS and Viacom have formed independent board committees to consider a merger at the behest of National Amusements, but it is not clear if terms can be reached.
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According to The Guardian, the mural went up overnight on the Castle Amusements building located next to the ferry terminal that connects the UK with the rest of Europe.
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In new court documents filed Wednesday, directors of National Amusements added Sumner M. Redstone's two great-grandchildren as so-called nominal defendants to their suit challenging his mental capacity.
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National Amusements can now act to remove and replace all the Viacom directors except Ms. Redstone, and then the newly appointed directors can remove Mr. Dauman as chief executive.
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National Amusements, the Redstone family theater chain, has about an 80 percent voting stake in both companies, though the accompanying economic interest in each case is roughly 10 percent.
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In this case, though, it is hard to see how Mr. Salerno can argue that National Amusements did not have the corporate power to do what it is doing.
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Mr. Salerno is arguing that Paramount's sale is being blocked by National Amusements and that Mr. Dauman has asserted that the sale can add $10 a share to Viacom.
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Through the private theater chain company National Amusements, Mr. Redstone controls about 80 percent of the voting stock in Viacom and CBS, two of the world's largest entertainment companies.
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He said that over the past several days Mr. Redstone had hosted family and friends at his home and also met with lawyers and an executive from National Amusements.
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She was the only member of the National Amusements board to oppose investing several hundred million dollars in Midway Games, the video game company that eventually filed for bankruptcy.
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Last month Redstone ejected Viacom Chief Executive Philippe Dauman and another director from the board of National Amusements Inc, which controls 80 percent of the voting shares of Viacom.
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Then came the reordering of the boards of National Amusements and Viacom that led to the dismissal of Mr. Dauman as chief executive of Viacom, which had struggled mightily.
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Since February of last year, Ms. Redstone has been the official head of National Amusements, having taken control from the patriarch who once boasted that he would never die.
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Democrats mostly don't disagree about any of this, so it wasn't in moderators' interests to guide them toward it — their plan was to make people fight for our amusements.
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Cut to little more than three months later: CBS and National Amusements were tussling as lawyers working under the direction of their headstrong leaders filed motions against each other.
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Viacom fell 287 percent to $36.14 after Sumner Redstone's privately held National Amusements withdrew its merger proposal for CBS and Viacom, according to a source familiar with the situation.
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Under the settlement, the board would add five directors that National Amusements put forward in June, bringing the board to 15 directors after Dauman departs, according to the memo.
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"National Amusements has tremendous respect for Les Moonves and it has always been our intention that he run a combined company," the company said in a statement on Wednesday.
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At the time of Moonves' exit, CBS also announced a deal to end litigation against controlling shareholder Shari Redstone and National Amusements for control of the broadcasting and media giant.
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A seven-person trust, which includes Redstone's daughter Shari Redstone and Viacom CEO Philippe Dauman, will take over the voting shares owned by National Amusements when the ailing billionaire dies.
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The bigger picture: The drama surrounding Moonves comes amid a legal battle between CBS, led by Moonves, against its majority shareholder, Shari Redstone and her holding group National Amusements Inc.
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Even if the Commerford's truly care for their money-making elephants, which get rented for parties and other amusements, Schneider says the animals are still being denied their free will.
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The working agreement removes a major roadblock in talks to recombine the companies, both controlled by National Amusements Inc, which is owned by Shari Redstone and her father Sumner Redstone.
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Separately, CBS and its controlling shareholder National Amusements Inc (NAI) will also end litigation for control of the company, putting a halt to one of America's big media corporate struggles.
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I'll not forget the tricky platforming of the Lost World, the simple joy of whooshing through Twinkle Park's amusements, or the thrilling—at the time—snowboarding section of Ice Cap.
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Last week, Redstone and his National Amusements Inc holding company removed five of Viacom's directors, including Chief Executive Philippe Dauman and lead independent director Frederic Salerno, from the company's board.
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The National Amusements' lawyer, Donald J. Wolfe Jr. of the Delaware firm Potter Anderson & Corroon, argued for a stay of discovery and a quick decision on a summary judgment motion.
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But some concerns remain about what will happen, and when, to his roughly 80 percent of the voting shares in both companies, held through his National Amusements movie theater company.
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In 1987, Mr. Redstone took control of Viacom through National Amusements in a hostile corporate takeover, then went on to acquire CBS in 2000 in a nearly $40 billion deal.
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CBS sued Shari Redstone's National Amusements, the controlling shareholder of both companies, on Monday to block her from interfering at a special board meeting where the merger would be considered.
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Instead, the argument will devolve into whether National Amusements itself is under undue influence from Ms. Redstone and whether that is a breach of Ms. Redstone's fiduciary duty to Viacom.
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Mr. Redstone, who is 93 and in poor health, controls about 80 percent of the voting shares in Viacom and CBS through National Amusements, which was started by his father.
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National Amusements, the privately held movie theater company owned by 94-year-old Sumner Redstone and his daughter, Shari, holds a majority of the voting shares in CBS and Viacom.
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As I discussed in a previous Deal Professor, as a result of a mistake in Viacom's organizational documents, Mr. Redstone, acting through National Amusements, can remove the Viacom directors anytime.
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Mr. Redstone controls Viacom and CBS through National Amusements, a private theater chain started by his father, which holds about 403 percent of the voting stock in the two companies.
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Shari Redstone, Sumner Redstone's daughter and an owner of National Amusements, has favored recombining the two companies under the leadership of CBS CEO Leslie Moonves, sources have previously told Reuters.
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National Amusements said it might have to sack the board to protect its voting power, and CBS said it might have to dilute the Redstones' voting control to prevent abuses.
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Ms. Redstone, who controls CBS through her family business, National Amusements, has been agitating for a merger with Viacom, the cable company behind MTV and Nickelodeon, which she also controls.
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While a buyer could negotiate protections that would absolve itself from liability, National Amusements may be more willing to transact with an outside buyer after NAI Chairman Sumner Redstone dies.
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Beyond the Chelsea galleries, away from the new made-for-Instagram art amusements, New York is still home to scholarly, specialist dealers whose reappraisals and rediscoveries keep art history moving.
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Separately, Sumner Redstone asked a Los Angeles Court on Monday for an order validating his removal of Dauman and Abrams from his trust and from the board of National Amusements Inc.
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Last week, the two companies, both controlled by Sumner and Shari Redstone's National Amusements Inc, agreed to a management structure that will see Bakish become the CEO of the new company.
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Separately, Sumner Redstone on Monday asked a Los Angeles Court for an order validating his removal of Dauman and Abrams from his trust and from the board of National Amusements Inc.
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The long-anticipated talks between the two companies controlled by the Redstone family's National Amusements are expected to begin in mid-June, though discussions could begin even sooner, the sources said.
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It's the latest in a series of nasty moves as National Amusements' Redstone and Dauman have have brawled over Redstone's competence and the sale of a minority stake in Paramount Pictures.
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Redstone in May removed Dauman and board member George Abrams from Sumner M. Redstone National Amusements Trust, which would control Viacom and CBS Corp when the billionaire dies or is incapacitated.
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CBS and Viacom, both controlled by the Redstone familys National Amusements Inc, are expected by many investors to merge in a wave of media consolidation aimed at competing better against Netflix.
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In the second room, however, Sohier has produced a soundtrack of children's laughter, echoing among photographs of hyper-commercial spaces in largely peri-urban zones — amusements parks and global supermarket chains.
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Farrow's reported expose would come as Moonves fights Shari Redstone, who along with her father Sumner, controls the majority of CBS and Viacom stock through the family's National Amusements holding company.
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Judge Andre Bouchard on Wednesday brought together the two actions, and said he planned to hold a hearing in July to listen to arguments about whether National Amusements' move was valid.
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And it is why the judge, Chancellor Andre G. Bouchard, was skeptical of National Amusements' arguments that he could resolve this matter without looking past the consent and Mr. Redstone's competency.
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CBS and Viacom have agreed to merge, ending a 3-year-old drama filled with starts and stops that reunite the two companies controlled by Shari Redstone's National Amusements holding company.
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Redstone has ousted Dauman and George Abrams from the board of National Amusements and from the trust that will control Redstone's voting shares after he dies or is declared mentally incompetent.
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National Amusements said in a statement that the "newly constituted board'' would evaluate current top executives and take steps "to ensure that Viacom has in place strong, independent and effective leadership.
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Mr. Redstone also removed them from the board of National Amusements, the theater chain company through which Mr. Redstone owns roughly 80 percent of the voting stock in Viacom and CBS.
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At the same time, National Amusements could invoke the seldom-used summary procedures in the Delaware code for contested elections of directors and procedures to confirm the validity of its appointments.
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Mr. Redstone, who is in poor health, controls about 503 percent of the voting shares in Viacom and CBS through National Amusements, the private theater chain company started by his father.
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Shari Redstone, vice-chairwoman of National Amusements, the holding company for CBS and Viacom, is contemplating firing CBS chief Leslie Moonves, should merger talks between the two networks fail, CNBC reports.
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"NAI believes the irresponsible action taken by CBS and its special committee put in motion a chain of events that poses significant risk to CBS," National Amusements said in a statement.
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Redstone is also discussing naming his granddaughter Kimberlee Ostheimer to the board of National Amusements, the sources said, requesting anonymity on grounds of not being permitted to speak to the media.
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The meeting was sufficiently contentious that when it was over, Ms. Redstone and Mr. Moonves "affirmed their mutual desire for peace" and agreed to avoid "fighting publicly," according to National Amusements.
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The suit, filed in Delaware's Court of Chancery by CBS's parent company, National Amusements, came in response to a surprise legal offensive by Leslie Moonves, CBS's chief executive, on May 14.
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National Amusements, which controls both CBS and Viacom, has twice tried (and failed) to merge the two media companies to gain scale in a landscape that's seen megadeals galore this year.
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CBS sued its parent company, the Redstones' National Amusements, in Delaware's Court of Chancery to prevent Ms. Redstone from interfering with a meeting of a special board committee scheduled for Thursday.
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In "Brighton Rock" (1938), Graham Greene described "the cheap amusements, the Pullman cars, the unloving weekends in gaudy hotels, and the sadness after coition" to be experienced in that seaside resort.
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They thought it was a signal that Viacom's owner, Shari Redstone through National Amusements' controlling stake, was gearing up to merge the company into CBS and let Les Moonves run it.
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Viacom and CBS, both controlled by Sumner and Shari Redstone's family company, National Amusements, are exploring a merger, but the efforts have been opposed by CBS Chief Executive Officer Leslie Moonves.
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The 92-year-old Mr. Redstone continues to control about 80 percent of the voting stock in the two companies through National Amusements, the private theater chain company that his father started.
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National Amusements gave no reason for the removals, but it was seen as a big step toward a management shake-up at the media company, which has been struggling with sagging ratings.
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Former Time Warner executive Kenneth Lerer, ex-Sony Entertainment President Nicole Seligman and former Discovery Communications Chief Executive Judith McHale are being considered by National Amusements for Viacom's board, the newspaper said.
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Dauman and Abrams filed a lawsuit in Massachusetts, where the trust was established, contesting their removal from the trust and the board of National Amusements Inc, Redstone's privately held movie theater company.
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The Fire Ball is described as an "aggressive thrill" and has become one of the most popular thrill rides since its debut in 2002, according to Amusements of America, the ride's operator.
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Their parents' disdain for society meant that the girls had no outside friends and lived "a life deprived of outside amusements," according to one of their tutors, leaving them lonely and bored.
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Media mogul Sumner Redstone, who controls both CBS and Viacom through his privately held National Amusements, in September proposed a merger of the two companies, which he split up a decade ago.
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Mr. Dauman and Mr. Abrams were also removed from the board of National Amusements, the private theater chain company through which Mr. Redstone, 92 and in frail health, controls his media empire.
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Redstone's National Amusements Inc, which holds 80 percent of Viacom voting shares, recently amended the bylaws of Viacom to require unanimous approval from Viacom's board for any deal related to Paramount Pictures.
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In quick order, the Redstones moved to reorder the board of National Amusements, then the board of Viacom, ultimately leading to the ouster of Philippe P. Dauman as chief executive of Viacom.
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The Hollywood Reporter reported on Tuesday that National Amusements president Shari Redstone, who controls Viacom and CBS, is exploring options for a conservative-leaning news network that would compete with Fox News.
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Mr. Redstone, who is 93 and in poor health, controls about 80 percent of the voting shares in Viacom and CBS through National Amusements, the private theater chain started by his father.
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So, this litigation truly depends on whether the court is willing to stop at National Amusements' actions as properly authorized (the place where the case has seemed to stop in previous instances).
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In a legal filing this month, Ms. Redstone asserted that she had been disinherited of $6 million from Mr. Redstone's personal trust and potentially $1 billion more from the National Amusements trust.
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The board of National Amusements, the private theater chain company through which Mr. Redstone controls about 80 percent of the voting shares in Viacom and CBS, met later and approved the deal.
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Just last week, settlement talks between National Amusements and Viacom executives fell apart after a Massachusetts judge scheduled an October trial on the matter, according to three people briefed on the discussions.
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The Redstones remain in control, and even the bylaw National Amusements put in requiring unanimous approval for a Paramount sale remains in effect, despite the fact that Viacom called the bylaw illegal.
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The unanimous decision in the Australian's favor was questioned by observers and the Philippines Games and Amusements Board (GAB) sent a letter asking for a "thorough review" of the fight on Monday.
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These discussions are occurring as the company and its controlling shareholder Shari Redstone and National Amusements Inc are also hammering out a settlement to a legal dispute over the control of CBS.
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The proposal would dilute the shares of National Amusements — Redstone's media holding group — by over 60 percentage points, which would block it from replacing enough board members to push the merger through.
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National Amusements, the majority shareholder of CBS and Viacom, also said it would not support the acquisition of either media company by a third party or surrender its control of either firm.
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A former criminal defense lawyer, the Massachusetts-born Ms. Redstone, 64, joined National Amusements, the flagship company in the empire founded by her father, the 94-year-old Sumner Redstone, in 1993.
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The talks also include delaying for two years a possible merger between CBS and Viacom, both of which are controlled by Ms. Redstone's family company, National Amusements, two of the people said.
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But if executives at CBS and National Amusements believed they would come away from the hastily called hearing with clear answers on which party was in the right, they were sadly mistaken.
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Niagara Falls, for instance, had been grotesquely commercialized by private operators, who turned the overlook areas into a circus of pricey amusements, and the founders of Yellowstone considered it a negative exemplum.
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Gamers don't see the new tickets as competing investment opportunities — which would lead to a corresponding drop in sales for old tickets — but as fresh amusements, like extra movies at the multiplex.
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The Wall Street Journal reported that CBS, which owns the CBS television network and Showtime cable network, would agree to drop its attempt to strip voting control from National Amusements, CBS's majority shareholder.
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Dauman fired back on Monday saying the moves to replace him and Abrams from both the trust and National Amusements board would amount to an "unlawful corporate takeover" by Sumner's daughter, Shari Redstone.
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CBS and Viacom both have dual-class share structures with 80 percent of their voting shares owned by National Amusements, a privately-held movie theater company controlled by the 92-year-old Redstone.
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In a May 23 lawsuit filed in Massachusetts, Dauman and Abrams are contesting their removal from Redstone's family trust and the board of National Amusements Inc, the holding company for Redstone's voting shares.
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One of my amusements is looking up variations of the phrase "As the Americans say" in the U.K. parliamentary record to see which things Brits mark as usefully American ways of saying things.
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National Amusements, the majority shareholder of Viacom, announced Monday that it would change its bylaws specifically to require any transaction affecting Paramount Pictures to be unanimously approved by the Viacom board of directors.
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The lawsuit is the latest shot in the battle for control between Dauman and Shari Redstone, who is vice chair of both Viacom and CBS, and president and a director at National Amusements.
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A month after a bitter fight over Viacom's leadership was settled, National Amusements, the controlling shareholder in Viacom and CBS, plans to send letters to both companies, instructing them to consider a merger.
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The Redstone family, who own the majority of voting shares of CBS and Viacom through their privately held National Amusements, want to recombine the two media giants a decade after they split up.
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Redstone and National Amusements also moved to oust five Viacom directors in June, including Dauman and lead independent director Frederic Salerno, asking a court in Delaware to rule that the changes were valid.
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Spar concluded Redstone had the "legal mental capacity" required when he removed Dauman and Viacom board member George Abrams from the Sumner M. Redstone National Amusements Trust on May 20, the statement said.
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Pinball videogames have often escaped the dreary physical bounds of the arcade amusements they are based on, adding impossible geometry to the playfields, blending in elements of other game genres, et cetera. PinOut!
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Last year, National Amusements, the privately held movie company through which Shari Redstone and her 94-year-old father Sumner Redstone control Viacom and CBS Corp, urged the two to explore a merger.
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Both companies are controlled by the Redstone familys National Amusements Inc, which pushed for a merger last year but backed off as CBS explores other options before deciding on another run at Viacom.
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Mr. Redstone has that power through his control of about 80 percent of the voting shares in Viacom and CBS held by National Amusements, the private theater chain company started by his father.
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"The substantial assets in the trust are threatened by Shari's invalid attempt to take over the trust and its controlling interest in NAI," the motion for expedited proceedings stated, referring to National Amusements.
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Through National Amusements, he owns about 80 percent of the voting stock of CBS and Viacom, and as the holder of the majority of shares can act by written consent at any time.
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But according to the transcript of the hearing, the lawyers disclosed that until Mr. Redstone is declared incompetent or dies, the Viacom shares held by National Amusements are actually directly voted by him.
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National Amusements directors who hold board positions at the two companies — Mr. Redstone, Ms. Redstone and David Andelman — would not participate in board discussions related to the proposed deal or vote the transaction.
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On Monday, Redstone's National Amusements Inc, which holds 80 percent of Viacom voting shares, amended the bylaws of Viacom to require unanimous approval from Viacom's board for any deal related to Paramount Pictures.
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In the process, Bakish has endeared himself to Shari Redstone, vice chair of both CBS' and Viacom's boards and president of National Amusements, the trust that holds a controlling stake in both companies.
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As it stands, the share structure of CBS enables Shari Redstone, through theater and media holding company National Amusements, to maintain voting control over CBS, despite only owning about 10 percent of shares.
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Named to the trust, which will control his companies after he dies or is declared not competent, are Thaddeus Jankowski, the general counsel of National Amusements, and Jill Krutick, a former media executive.
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Both companies are controlled by the Redstone family's National Amusements Inc, which pushed for a merger last year but backed off as CBS explores other options before deciding on another run at Viacom.
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National Amusements, which controls both CBS and Viacom, has twice tried, and failed, to bring the two media companies back together again to gain scale in a landscape of megadeals galore this year.
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Shari Redstone, the president of National Amusements, which controls both companies, is in the thick of a public clash with Leslie Moonves, the chief executive of CBS, where Ms. Redstone is vice chairwoman.
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Viacom and CBS were a single entity until 22015, when Sumner Redstone, the 20063-year-old chairman of National Amusements and Ms. Redstone's father, split them up to try to extract more value.
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A photo booth snapped several photos of a man who allegedly stole $75 out of the booth at the Funway Amusements arcade and bowling alley in Batavia, Illinois, a town west of Chicago.
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The stages still hold up beautifully, with plenty of memorable areas—the climbing sections of Ricco Harbor, the verticality born of rickety amusements of Pinna Park, the subtle, chill beauty of Noki Bay.
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Redstone, a media executive at the helm of the media company National Amusements and a vice chair of CBS and Viacom, has for months been engaged in a public battle with CBS and Moonves.
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CBS has been involved in a legal dispute between the board of CBS Corp and its controlling shareholder National Amusements Inc, owned by the Redstone family, which wants to merge it with Viacom Inc.
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CBS and Viacom Inc both have dual-class share structures with 80 percent of their voting shares owned by National Amusements, a privately-held movie theater company controlled by the 92-year-old Redstone.
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It was only three months ago that National Amusements - the investment vehicle for Sumner Redstone and his daughter Shari - suggested that CBS and Viacom should consider getting back together again after 10 years apart.
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Viacom's corporate charter gives National Amusements the power to remove Viacom's board at any time under Delaware law, which suggests the ousted directors have an uphill battle to block the move, legal experts said.
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Business Briefing The eastern Pennsylvania manufacturer of Skee-Ball, an arcade game that dates to 1909, has been sold to Bay Tek Games, which makes, among other amusements, similar so-called alley-bowler games.
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The rest of the park features other western-themed amusements, including a Main Street, a working blacksmith shop, and a photo booth where guests can dress up as outlaws, Native Americans, and saloon girls.
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The settlement marked the end of a legal battle between Dauman and Viacom board member George Abrams over their removal by Sumner Redstone from the Sumner M. Redstone National Amusements Inc Trust in May.
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The amusement ride is being inspected by an inspector for the local fair board, by an inspector for the operator's insurance company, and by the ride operator Family Attractions Amusements Co. of Valdosta, Georgia.
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The shareholder vote comes as no surprise given that 80 percent of Viacom's Class A voting shares are owned by 92-year-old longtime leader Sumner Redstone, through his holding company National Amusements Inc.
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Viacom fell 8.5 percent to a two-month low of $35.35 after Sumner Redstone's privately-held National Amusements withdrew its merger proposal for CBS and Viacom, according to a source familiar with the situation.
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I love that I've been able to explore so many picturesque cobblestone streets with loads of amusements and fish-and-chip shops overlooking the sea, plus city centers with small shops and local eateries.
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Mr. Redstone, who is 93 and in poor health, controls 80 percent of the voting stock in Viacom and CBS through National Amusements, the private theater chain company whose headquarters are in Norwood, Mass.
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Later Monday, National Amusements fired back saying it is "outraged by the action taken by CBS and strongly refutes its characterization of recent events" and it defends to defend their position vigorously in court.
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Redstone acquired control of Viacom in 1987 through National Amusements and grew the company to a $40 billion media empire that now includes the company's holdings of MTV, Nickelodeon, Comedy Central, and Paramount Pictures.
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"I think it's going to be hit in the way that cruise lines or out-of-home amusements are hit," Tom Nunan, a lecturer at the UCLA School of Theater, Film and Television, said.
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Lawyers for National Amusements argued in its suit that Ms. Redstone had not tried to undermine CBS or Mr. Moonves as she pressed the company to consider a merger with its corporate sibling, Viacom.
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On the other hand: Just minutes before the network's longtime leader, Leslie Moonves, took the stage, a Delaware court released a ruling on the legal fight between CBS and its corporate parent, National Amusements.
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NEW YORK, Dec 12 (Reuters) - Sumner Redstone's privately-held National Amusements on Monday withdrew its merger proposal for CBS and Viacom, according to a source familiar with the situation who wished to remain anonymous.
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It was only three months ago that National Amusements — the investment vehicle for Sumner Redstone and his daughter, Shari — suggested that CBS and Viacom should consider getting back together again after 10 years apart.
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Through National Amusements, he wrested control of a vast $30 billion media empire that includes the CBS television network and Viacom, the entertainment company with properties like MTV, Nickelodeon, Comedy Central and Paramount Pictures.
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The companies had previously explored a merger in 2016 at the urging of ailing 94-year-old Sumner Redstone and his daughter Shari, who control CBS and Viacom through privately held National Amusements Inc.
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Shari Redstone, who (along with her father Sumner) controls both CBS and Viacom through National Amusements, called off the deal less than three months after formally asking both boards to look at a combination.
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Vegas is not just about gambling; it's a place where you can booze it up, it's about nightclubs and big spectacles and all the dazzling amusements — everything is wrapped up in a big hedonic package.
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Sumner M. Redstone, Viacom's 92-year-old chairman, holds a majority of the voting power through his holding company, National Amusements, meaning any changes would have to come at the will of the media mogul.
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According to Viacom's charter, there is no prohibition on shareholders' action by written consent, which means that the majority of votes (in other words, National Amusements) can act at any time to remove the directors.
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While Redstone controls a supermajority of the company's Class A voting shares through his holding company, National Amusements, his health situation and the company's high executive pay have led to questions about its corporate governance.
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"We are pleased by the court's decision to deny CBS and its special committee's unprecedented motion to try to deprive a shareholder of its fundamental voting rights," National Amusements said in a statement on Thursday.
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National Amusements disclosed in June that it had changed Viacom's corporate bylaws to prevent Viacom from selling any part of Paramount without unanimous approval of Viacom's board, effectively putting a moratorium on any potential sale.
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Mr. Redstone and his daughter, Shari Redstone, run the private theater chain National Amusements, through which they control the CBS television network and a portfolio of companies at Viacom that include MTV and Paramount Pictures.
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Let's break down what happened: • CBS sued its parent company, the Redstones' National Amusements, in Delaware's court of chancery to prevent it from interfering with a meeting of a special board committee scheduled for Thursday.
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The ailing 93-year-old media mogul Sumner M. Redstone and his daughter, Shari Redstone, control about 80 percent of the voting shares in Viacom and CBS through National Amusements, the private theater chain company.
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On June 16, when National Amusements moved to oust the five directors from the board, investors told Reuters they hoped a change in management or a merger between CBS and Viacom could be on the horizon .
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The media company's board is investigating allegations that Chief Executive Leslie Moonves sexually harassed multiple women over his career and its relationship with controlling shareholder National Amusements Inc is the subject of a court battle. on.wsj.
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He still owns National Amusements and is the company's chairman, but his daughter Shari Redstone stepped in when her father resigned his position as executive chairman of CBS when issues of his mental fitness were raised.
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The change, effective immediately, was made "to protect long-term interests of stockholders," National Amusements, a privately held movie theater company that owns 80 percent of Viacom's voting stock, said in a news release on Monday.
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In its letter to CBS last week, Viacom also asked for its CEO Robert Bakish to be president and chief operating officer of the combined company, a demand supported by National Amusements, according to the sources.
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On Friday, four days after the letter was sent, Mr. Redstone suddenly dismissed Mr. Dauman from the board of National Amusements and the trust that will control his companies after he dies or is declared incompetent.
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Mr. Dauman is the chief executive of Viacom, and was — until recently — Mr. Redstone's longtime confidant and a trustee of the trust that controls 80 percent of National Amusements (his daughter owns the remaining 20 percent).
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A combined CBS-Viacom deal may close by the end of the year or early next year because of National Amusements' controlling ownership stakes in both companies, people familiar with the matter told CNBC last month.
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With the fight over Viacom's leadership settled, National Amusements — through which Sumner M. Redstone controls Viacom and CBS — plans to send letters to both companies instructing them to consider merging, people briefed on the matter said.
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From Circulo Gran Via, I was just a 15-minute stroll from the Royal Palace of Madrid and a 30-minute metro ride to the main collection of amusements centered around Parque de Atracciones de Madrid.
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The National Amusements trust, now valued at more than $5 billion, will gain control of his companies after he dies or is declared incompetent, and the beneficiaries include Ms. Redstone and Mr. Redstone's four other grandchildren.
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It was sold in its 146 years as a kaleidoscope of Americana and pre-broadband amusements, but the circus was nothing but faded memory dangled in your face while sideshow bamboozlers turned your pockets inside out.
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His name and voice were added to directives and statements that dismissed two of his longtime business partners and confidants from the National Amusements board and the trust that will control his companies after he dies.
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Last month, the CBS directors who are unaffiliated with Ms. Redstone filed requests to seek more information about how her family company, National Amusements, handles the voting shares of its own company and that of CBS.
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Mr. Zottola's namesake company, D.A.Z. Amusements, which serviced the mob's poker machines, appears to have gone defunct, and new organized crime apparatuses — namely the Albanian and Russian mobs — have moved into the more traditional consigliere turf.
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Ahead of the hearing, Ms. Redstone's National Amusements filed its legal response to a CBS lawsuit, seeking to prevent her from blocking a special meeting of its board on whether to water down her controlling stake.
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The claims about Moonves also come as he is locked in a battle over control of CBS with the company's largest shareholder, National Amusements Inc, which is owned by Shari Redstone and her father Sumner Redstone.
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CBS and Viacom were already corporate siblings before the deal, both controlled by National Amusements, a theater company that grew into a major conglomerate under the mogul Sumner M. Redstone, who is ailing at age 21.
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He also harbored a great fondness for popular amusements, and at some point in the early part of the century, he began frequenting a theatrical horror show in the West End of London called the Phantasmagoria.
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Dauman fired back on Monday in a lawsuit, stating the move to replace him and Abrams from both the trust and the National Amusements board amounted to an "unlawful corporate takeover" by the mogul's daughter, Shari Redstone.
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The New York-based company met with investment banks in recent months to discuss how it could buy CBS's voting shares from Redstone's National Amusements Inc, and collapse CBS's dual-class share structure, the sources told Reuters.
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Earlier, RBC upgraded the stock to "sector perform" from "underperform" and raised its price target to $45 from $34 after Sumner Redstone's National Amusements removed five Viacom directors, including CEO Philippe Dauman, from the media firm's board.
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The $85033 billion merger between CBS and Viacom is expected to be closed in early December after being officially approved by National Amusements, the parent company owned by the Redstone family that controls each of the companies.
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In its letter to CBS last week, Viacom also asked for its Chief Executive Robert Bakish to be president and chief operating officer of the combined company, a demand supported by National Amusements, according to the sources.
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One possibility that has been discussed is that the new Viacom board would serve a short term before National Amusements pushes to merge Viacom with CBS, the other entertainment company it controls, two of the people said.
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Rather than dismiss the entire Viacom board, one possibility being considered is for National Amusements to remove a few of the directors who are allies of Mr. Dauman, two of the people briefed on the discussions said.
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Who controls the seven-trustee board of his trust is critical, since the National Amusements trust will control Mr. Redstone's assets, including his dominant stakes in CBS and Viacom, should Mr. Redstone die or be deemed incapacitated.
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Legal experts said Dauman and the directors would face a tough legal battle to prevent their ouster because Redstone's National Amusements Inc (NAI) had the ability to immediately remove Viacom's board at any time under Delaware law.
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He seemed in his element, although everyone in the crowd knew he was locked in a legal battle with Shari Redstone, the controlling shareholder of the CBS Corporation and the president of its parent company, National Amusements.
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The legal maneuver was the latest in a series of steps taken by CBS to prevent Ms. Redstone, the president of National Amusements, which acquired CBS in 2000, from merging the company with Viacom, its corporate sibling.
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The settlement with Dauman also ends the legal fight between members of the Viacom board and Redstone's National Amusements Inc, the privately held company that holds 80 percent of the voting shares of Viacom and CBS Corp.
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Redstone and National Amusements moved to oust five of Viacom's directors last month, including Dauman and lead independent director Frederic Salerno, asking a court in Delaware - where Viacom is incorporated - to rule that the changes were valid.
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"National Amusements supports the processes announced by CBS and Viacom to evaluate a combination of the two companies, which we believe has the potential to drive significant, long-term shareholder value," the company said in a statement.
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A carnival employee is suing Amusements of America -- one of the largest traveling amusement park companies -- claiming it failed to safely set up the Ring of Fire thrill ride in August 2016 ... which led to him being electrocuted.
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As second and third generation Afro Germans began to take part in the exhibitions, many of the dances and mannerisms they displayed to the amusements of crowds were stereotypes, believes Robbie Aitken, a historian at Sheffield Hallam University.
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National Amusements Inc, the privately held movie theater company through which media mogul Sumner Redstone and his daughter Shari control the majority of voting shares of CBS and Viacom, last year proposed that the two companies consider merging.
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Viacom and CBS, both owned by National Amusements Inc, Sumner and Shari Redstone's family holding company, have been going back and forth on price and management in a combined company in the merger talks, sources have told Reuters.
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The company also reached a deal to settle litigation over the control of the company with National Amusements in a deal expected to be announced as early as before the markets open on Monday, the sources told Reuters.
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In its statement, National Amusements criticized recent comments by Frederic Salerno, Viacom's lead independent director, who said last week that it was important for the company's growth to proceed with its plans to sell a stake in Paramount.
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He assumed the new title of chairman emeritus of both companies but continued to control about 22015 percent of the voting stock in the two companies through National Amusements, the private theater chain company started by his father.
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National Amusements was willing to compromise on this issue, but in the end decided to let Bakish retain control of Viacom, according to the sources, who wished to remain anonymous because they were not authorized to speak publicly.
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They tell us to believe that you have put your daughter Shari in charge of your trust and your board at National Amusements despite your clearly stated wishes and planning over many years that are to the contrary.
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They were also separated from the board of National Amusements, the private theater chain company through which Mr. Redstone controls about 80 percent of the voting stock in Viacom and CBS, two of the world's largest entertainment companies.
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One person expected to be named to the trust is Thaddeus Jankowski, the senior vice president and general counsel of National Amusements, according to people with knowledge of the development, who requested anonymity because the deliberations are private.
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Coney Island Opening Day (Saturday) After having to reschedule last week's opening because of winter weather, the Coney Island amusements return for the season with a series of events that recognize the area's history and celebrate its future.
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Ms. Redstone was born in 1954, the same year her father left his lucrative job at a Washington law firm to return home to the Boston area and join his father's movie-theater chain, eventually called National Amusements.
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At National Amusements, Ms. Redstone focused on two areas where she thought she could carve out her own reputation: expanding internationally into Russia and South America, and upgrading the moviegoing experience beyond popcorn tubs and sticky theater floors.
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CBS' board of directors is near completion of a settlement that would both end its litigation with its controlling shareholder National Amusements — and sever ties with long time CEO Leslie Moonves, according to people familiar with the situation.
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Three decades after Postman's account, when we can add reality television, the internet and social media to the deadly amusements available, "Brave New World" can still seem strikingly relevant in its depiction of the relentless pursuit of pleasure.
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Chief executives with Mr. Moonves's record don't often find themselves in this position, but he is there because of CBS and Viacom's unique corporate governance structure: namely, the super-voting powers of the Redstone family's vehicle, National Amusements.
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Shareholders were not given the opportunity to vote on the deal, which follows two recent failed attempts to merge the companies that are both controlled by National Amusements, the holding company of Sumner Redstone and his daughter Shari.
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They once walked this boardwalk, eating shaved ice and posing for selfies, but fled at the first sign of commercial depreciation, abandoning it all to indigence and petty crime, and, at last, to the King of Retired Amusements.
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Check out the companies making headlines before the bell: CBS – CBS is in talks with National Amusements and controlling shareholder Shari Redstone to settle litigation over control of the media company, according to a Wall Street Journal report.
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The allegations come as Moonves is embroiled in a legal battle over control of CBS with the company's largest shareholder, National Amusements Inc, owned by Shari Redstone and her father Sumner, who also control media company Viacom Inc.
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The cable network has been under pressure due to weak ratings and concerns about the mental condition of 92-year-old Redstone, whose holding company, National Amusements, has about 80 percent of the voting stock at Viacom and CBS.
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Shari Redstone and National Amusements Inc, controlling shareholders of the two companies, ultimately settled a lawsuit brought by CBS to block the merger, with Redstone agreeing to refrain from proposing a merger of CBS and Viacom for two years.
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ALL THAT BEING SAID, WHEN IT COMES TO CBS AND VIACOM, I KNOW THE SHARES MAY BE UP ON THIS NEWS, BUT HE STILL REMAINS THE CONTROLLING SHAREHOLDER THROUGH OF COURSE NATIONAL AMUSEMENTS AND HIS CONTROL OF THAT COMPANY.
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Rumors of tension between the two parties intensified last week, when CNBC reported that Redstone, vice-chairwoman of National Amusements, the holding company for CBS and Viacom, was contemplating firing Moonves, should merger talks between the two networks fail.
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National Amusements — the entertainment company founded by Ms. Redstone's father, the 95-year-old mogul Sumner M. Redstone — asked in its suit that the court rule on what took place during a meeting at CBS headquarters on May 17.
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Most of the would-be amusements are interactive, involving performers, but even a video game called Rough Ride is queasy-making: Shake a toy police van violently enough and see the animated black man on the screen tossed around.
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When National Amusements' controlling shareholder Shari Redstone pushed CBS and Viacom to merge earlier this year, her plan was simple: CBS CEO Les Moonves would run the company and Viacom CEO Bob Bakish would be his second-in-command.
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His departure as chairman, CEO and president was confirmed by the company in a statement coinciding with its announcement of a deal to end litigation against majority CBS shareholder Shari Redstone and National Amusements Inc for control of CBS.
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That's because Novelty Automation happily eschews the video game form in favor of a more traditional type of coin-operated machine: The mechanical amusements that dominated fairgrounds and bowling alleys until their pixelated cousins arrived with the Atari era.
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Reuters reported on Wednesday that National Amusements, owned by media baron Redstone and his daughter Shari Redstone, could contact CBS and Viacom as soon as this week to ask them to form independent board committees to discuss a potential merger.
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According to documents faxed to Dauman and Abrams, Redstone also removed Abrams and Dauman from the board of National Amusements, the privately held movie company which owns 80 percent voting stake in CBS and Viacom, one of the sources said.
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The approval by National Amusements "satisfies the closing conditions to the merger requiring approval of a majority of the CBS Class A shares and a majority of the Viacom Class A shares," the company announced in a late Monday press release.
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National Amusements' decision to keep the current board in place until the Delaware court rules could pay off because it presents the court with a less volatile situation, said Lawrence Hamermesh, a professor at Widener University School of Law in Delaware.
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The fourth realm is off limits — its leader, Mother Ginger (Helen Mirren) has been belligerent towards the other leaders in the past, and her land, formerly known as the Land of Amusements, has fallen into disrepair and become overrun by mice.
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Redstone has long been in favor of putting CBS and Viacom together but can't personally push for a merger for about two years, a result of a settlement between CBS and National Amusements last year that included the resignation of Moonves.
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It's right to call these amusements science porn—watching a slow-mo video of black holes merging or looking at the glowing streaks of a long-exposure photo of fireflies in a dark forest is a delight for the senses.
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According to documents faxed to Dauman and Abrams, Redstone also removed Abrams and Dauman from the board of National Amusements Inc, the privately held movie company which owns 80 percent voting stake in CBS and Viacom, one of the sources said.
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Deal Professor Wednesday's Delaware court hearing on whether Sumner M. Redstone's National Amusements appropriately removed five Viacom directors highlights that not only will this matter drag on, but that investors still know very little about the arrangements governing Viacom and CBS.
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On the same day, National Amusements asked a Delaware court to affirm the changes, while Salerno shot back with his own suit seeking to block the move, calling it "invalid" and the result of Redstone's daughter Shari Redstone manipulating her father.
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Chancellor Andre G. Bouchard of the Delaware Court of Chancery did not buy the argument that the issue was moot because the National Amusements board had also validated this consent, finding this a question of fact to be determined at trial.
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National Amusements — which is owned by the billionaire Sumner M. Redstone and is the controlling shareholder in Viacom and CBS — plans to send letters to both companies, instructing them to consider a merger, people briefed on the matter said on Wednesday.
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The dismissals of Mr. Dauman and Mr. Abrams from the trust and the National Amusements board were viewed by industry observers as a harbinger of the firing of the Viacom board and, ultimately, the removal of Mr. Dauman as chief executive.
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In the most telegraphed corporate move of the year, National Amusements, the company controlled by Sumner M. Redstone, moved on Thursday to remove five directors of Viacom, including Philippe P. Dauman, Viacom's chief executive, who remains in his job for now.
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Viacom is also covering the legal costs for Frederic V. Salerno, Viacom's lead independent director, who filed suit Thursday in a Delaware court seeking to block moves by Mr. Redstone's National Amusements company to replace five directors on the Viacom board.
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The fight over Mr. Redstone's empire erupted in May, when he unexpectedly ousted Mr. Dauman and another longtime confidant, George S. Abrams, from the National Amusements trust that will gain control of his companies after he dies or is declared incompetent.
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Ms. Creighton and I met with scholars who are excavating artifacts and scouring archives connected to the 1901 events, and she offered insights into the fair's amusements and philosophical framework, not the least of which were its undeniably racist overtones.
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CBS's future though is tied up until an October 3 court date, when the battle for control of the company between Shari Redstone, whose National Amusements controls CBS and Viacom, and CBS CEO Les Moonves could come to a head.
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Shari Redstone, whose National Amusements controls CBS and Viacom, is likely to replace CBS CEO Les Moonves if a deal isn't reached between the two companies as the media tie-up hits an impasse, sources familiar with the situation said.
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Moonves, who joined CBS in 1995 and became CEO in 2006, has been locked in a legal battle over control of the company with National Amusements, owned by Shari Redstone and her father Sumner who also control media company Viacom.
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Toronto-Dominion Bank (Canada) — $1.03 trillion Chancellor Andre Bouchard of Delaware's Court of Chancery rescinded a temporary restraining order against Shari Redstone's National Amusements, handing her a victory in an unusually vicious battle between the broadcaster and its controlling shareholder.
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Board structure: As previously reported, the board of directors of the new company will consist of 13 members — 6 independent members from CBS, 4 independent members from Viacom, the President and CEO of ViacomCBS (Bob Bakish) and two National Amusements, Inc.
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He liked to work in series, which often overlapped and led him to new projects: close-ups of pages from atlases, pictures taken during journeys by train, photographs of amusements parks, of the sky, of the studio of painter Giorgio Morandi.
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The ruling from the bench — in effect, the judicial version of buying time — followed a flurry of legal volleys by each side concerning the fate of CBS, which Ms. Redstone hopes to merge with its fellow National Amusements media company, Viacom.
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Directed by Saheem Ali, vaguely set in coastal Florida and sprinkled with Spanish, this frantic staging does offer some amusements — chief among them, David Ryan Smith as a wonderfully prissy Malvolio, and Donnetta Lavinia Grays as a teasing, protean Feste.
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As was widely reported Wednesday, CBS and its controlling shareholder, Sumner and Shari Redstone's National Amusements, are negotiating a settlement to end their litigation about whether the CBS board has the right to vastly dilute the voting power of NAI.
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CBS said in its lawsuit it is seeking to prevent the Redstones from ousting any directors or changing the company's bylaws before its full board meets on Thursday to consider issuing a dividend that would curb National Amusements' voting power.
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Wolfe has substantial experience in corporate lawsuits that appear in the Court of Chancery in Delaware, where he is based; he represented National Amusements in the Viacom-Redstone case, along with Walmart as it battled allegations of bribery in Mexico.
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The optimal deal structure would be an all-stock transaction in which the stockholders of each company would receive shares in the combined company of the same class as they currently hold, National Amusements said in a letter to the companies' boards.
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Redstone's privately held movie holding company, National Amusements Inc, owns 80 percent of voting shares of Viacom as well as of CBS, and some investors said they hope a board shakeup could point to an eventual a merger between the two media companies.
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Negotiations between Moonves and National Amusements Inc (NAI), through which the Redstones own an 80 percent stake of CBS and Viacom, have not started in earnest, and the exact terms that he will be asking for are not clear, the people said.
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Hilfiger's autumn 2016 "Tommy Pier" show in New York featured a Ferris wheel and a range of fun-park amusements, while "TommyLand," the spring show held in Los Angeles this year featured roller skaters, skate boarders, acoustic musicians and fire-breathing performers.
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In the early 20th century, that's all it took to bring to life the vending machines, gambling devices and other coin-operated mechanical amusements in "For Amusement Only," an exhibition on view through October 10 at the Morris Museum in New Jersey.
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And on Wednesday, she's taking over Venice Beach, California on behalf of the brand, transforming it into "Tommyland," which will feature amusements rides, food trucks and performances, as well as flying in a few of her Victoria's Secret friends to join her.
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High Point University in North Carolina is in the midst of an upgrade of more than $2 billion that includes millions toward amusements like a putting green, a game arcade, an ice cream truck and a theater with free movies and free popcorn.
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National Amusements, the theater chain through which Sumner M. Redstone controls his media empire, said on Monday that it had altered Viacom's corporate bylaws to prevent the entertainment company from selling any part of Paramount without the approval of the full board.
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The outcome of the cases, and who ends up controlling the trust and the National Amusements board, will have wide-ranging implications for Viacom and CBS and could result in changes at the top of both companies, possibly through mergers and acquisitions.
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Shari Redstone, the president of National Amusements, who controls both Viacom and CBS, has explored options for launching a conservative-leaning news network that would go head-to-head with Fox News, The Hollywood Reporter's Kim Masters and Paul Bond reported on Tuesday.
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"It is time for Viacom's current directors to stop supporting failed management and start representing shareholders, by allowing the new board to take the reins, and return the company to its position as an industry leader," National Amusements said in a statement.
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The Disney park is about as artificial and sanitized as a landscape can be – a whimsical universe of its own, filled with fantastical castles and amusements, groomed golf courses, gleaming hotels, sprawling parking lots and surrounded by condo complexes and gated communities.
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Analysts predicted Ianniello wouldn't last long as CEO because of his close relationship with Moonves, his predecessor who was involved in CBS' legal battle with controlling shareholder National Amusements, which is owned by the Redstone family, John Lynch reported for Business Insider.
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Even as the car plunged down its harrowing first drop and banked into a swooping turn high over the Luna Park amusements, the boardwalk and the ocean, Mr. Rodriguez chatted calmly above the clatter and squeal of steel as if enjoying afternoon tea.
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The settlement with CBS controlling shareholder National Amusements would end the litigation between the two parties, result in an expanded and refreshed board of directors at CBS, and prevent NAI from initiating a combination with Viacom for a period of 18 months.
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Redstone's daughter Shari, who controls CBS's and Viacom's controlling shareholder National Amusements together with her father, told the New York Times Dealbook conference last month that scale was crucial for both companies, because it would give them greater pricing power in content distribution.
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Each of these icons was deeply symbolic for the thousands of people — mostly men — who participated in rituals of borrowed meaning, where ancient Egypt, biblical Christianity, and some homegrown amusements like wooden goats on wheels met the rise of American folk art.
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Dauman and Abrams shot back with their own Massachusetts lawsuit contesting their removal from the trust and from the board of National Amusements Inc, Redstone's privately held movie theater company through which he owns 80 percent of the voting shares of Viacom and CBS.
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"When we initiated coverage on Viacom with an Underperform rating, we felt that strategic and earnings risks existed, and embattled management was unlikely to change due to the controlling interest of National Amusements (NAI)," the analysts said, referring to Redstone's privately owned holding company.
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The battle between executives at CBS and Viacom, two houses divided under controlling company National Amusements, was already the broadcast boardroom scandal of the century — and it just took a turn as allegations of sexual misconduct against CBS chairman and CEO Les Moonves surfaced.
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Dauman and Abrams shot back with their own Massachusetts lawsuit contesting their removal from the trust and from the board of National Amusements Inc, Redstone's privately held movie theater company through which he owns 80 percent of the voting shares of CBS and Viacom.
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Sumner Redstone removed Dauman and Abrams as trustees and directors of his privately held movie theater company National Amusements Inc after he expressed concerns about Viacom's performance to them and received no response, according to a statement from Michael C. Tu, a lawyer representing Redstone.
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Mr. Dauman was ousted on May 20 from Mr. Redstone's trust and the board of National Amusements, the private theater chain company through which Mr. Redstone controls 80 percent of the voting stock in Viacom and CBS, two of the world's largest entertainment companies.
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The entertainment conglomerate Viacom jumped sharply in the last hour of trading, closing up $2.85, or 6.8 percent, to $45.05, after National Amusements, controlled by Sumner M. Redstone, said it planned to replace five of Viacom's 11 directors, including the chief, Philippe P. Dauman.
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An article on the DealBook page on Wednesday, about the status of litigation over the future of Viacom, misidentified who would need to decide on the mental competency of the media magnate Sumner M. Redstone, who controls the company through his National Amusements theater chain.
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Read more: CBS and Viacom have agreed to become ViacomCBS, as part of a deal to reunite the media companies after 13 yearsThere are corporate reasons to merge the two companies, which are both majority controlled by the Redstone family through National Amusements Inc.
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National Amusements will also argue that this is a simple business dispute and that Paramount should not be sold because Mr. Dauman is wrong and the projected benefits of the sale are a financial trick that highlights the lack of a business strategy at Viacom.
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"Viacom's disclosures reveal that, under Philippe Dauman's leadership, Viacom is diverting valuable corporate resources to mount a legal and P.R. campaign against Sumner Redstone, despite the fact that Redstone is Viacom's founder, chairman emeritus and controlling shareholder," said Justin Dini, a spokesman for National Amusements.
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Viacom's shares are up 13 percent since news broke last Friday that Redstone had removed Dauman and Abrams from the trust and the National Amusements Board, as some investors bet that a change in management could lead to a sale of the media company.
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Shari Redstone, the executive in charge of the CBS Corporation's parent company, National Amusements, has made no secret of her desire to merge CBS with its corporate sibling, Viacom, the home of Paramount Pictures, BET, MTV and Nickelodeon, a plan that Mr. Moonves fought.
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From a statement by National Amusements, the vehicle through which the Redstones control CBS and Viacom: NAI believes CBS's action today was precipitated following NAI raising specific concerns about incidents of bullying and intimidation in relation to one CBS director, dating back to 234.
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For the residency, I did a bunch of research—and, with Aaron Beebe, developed an exhibition—about the the sorts of largely forgotten amusements that were common at turn of the 20th century Coney Island, many of which involved immersive spectacles revolving around death, disaster, and destruction.
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The outcome of the court cases, and who ends up with control over the trust, and over the National Amusements board, will have wide-ranging implications for Viacom and CBS shareholders and could result in changes at the top of both companies, possibly through mergers and acquisitions.
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Media mogul Sumner Redstone is planning to name National Amusements Inc general counsel Tad Jankowski to the seven-person trust that will determine the fate of both Viacom and CBS in the event of Redstone's incapacitation or death, sources familiar with the situation told Reuters on Sunday.
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Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal to give a combined company more financial heft to compete against media and tech heavyweights including Amazon and Apple for entertainment and sports rights, most notably the National Football League.
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Today, we're far from abandoning the board game solely for screen-based amusements, but the Game of the Goose and all its iterations stand out not only for their intricate designs, but as games that offer much more than a means to socialize or pass the time.
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National Amusements, the theater chain through which Sumner M. Redstone controls his $40 billion empire, is preparing to replace a handful of directors on the Viacom board, a move that is expected to serve as a prelude to the ouster of the company's embattled chief executive.
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Sumner M. Redstone confirmed on Tuesday the appointment of two new members to his irrevocable trust, which will control the future of his companies, as well as new directors to National Amusements, the private theater chain company through which he controls his $40 billion media empire.
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The set recreated his mansion on North State Parkway, rich in sybaritic amusements, where he greeted entertainers like Tony Bennett, Ella Fitzgerald and Nat King Cole, and intellectuals and writers like Max Lerner, Norman Mailer and Alex Haley, while bunches of glamorous young women milled around.
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On the day before the CBS board was scheduled to meet last week, National Amusements made a sudden and significant change to the CBS bylaws: From now on, the company said, any vote would require a supermajority — 90 percent of the 14 CBS board members — for approval.
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They tell us to believe that you have put your daughter Shari in charge of your trust and your board at National Amusements despite your clearly stated wishes and planning over many years that are to the contrary.... Sumner, we sincerely hope you are doing well.
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Though he is now simply chairman emeritus at Viacom and CBS, where he also ceded his role as executive chairman, Mr. Redstone continues to hold about 80 percent of the voting stock in the two companies through National Amusements, the private theater chain company started by his father.
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Neither candidate mentioned Trump, Ossoff never mentioned that he was a Democrat, and the low-quality ads placing cardboard figures of Pelosi next to real pictures of Osoff looked like those mild amusements at carnivals or festivals where you stick your face through a hole next to Abraham Lincoln.
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The full house included Viacom's general counsel, Michael D. Fricklas (who along with the remaining Viacom executives has taken the side of Mr. Dauman), the separate lawyers for Mr. Sumner and his daughter, Shari Redstone, and lawyers for National Amusements and Frederic Salerno, the Viacom director challenging this matter.
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"One thing I am committed to is working to rebuild some of our affiliate distributor relationships in the U.S," The Redstones, who own the majority of voting shares of CBS and Viacom through their privately held National Amusements, want to recombine the two companies 10 years after they split.
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National Amusements, the privately held movie company through which Shari Redstone and her 93-year-old father control 80 percent of the voting shares of CBS and Viacom, said in a letter they stopped pushing for a deal on the expectation of a turnaround at Viacom under new leadership.
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Here, Shari has engaged in an unlawful scheme to take control of Viacom by either taking advantage of Mr. Redstone's lack of capacity or by exercising undue influence over him, and as a result has caused NAI [National Amusements] to breach its fiduciary duties as Viacom's controlling stockholder.
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Like the Roys, the patriarch has clashed with his children, but the Redstone family sparked headlines over its internal drama that has mainly involved Sumner and his daughter Shari, who served as vice-chairwoman of the board of Viacom and CBS as well as president of National Amusements.
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The outcome of the Massachusetts case and a similar one in California, and who ends up controlling the trust and the National Amusements board, will have wide-ranging implications for Viacom and CBS and could result in changes at the top of both companies, possibly through mergers and acquisitions.
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Context On the day before the CBS board was scheduled to meet last week, National Amusements made a sudden and significant change to the CBS bylaws: From now on, the company said, any vote would require a supermajority — 90 percent of the 14 CBS board members — for approval.
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Dauman and Abrams filed a lawsuit in Massachusetts, where the trust was established, contesting their removal from the trust and from the board of National Amusements Inc, Redstone's privately-held movie theater company, through which he owns 80 percent of the voting shares of CBS Corp and Viacom.
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When we looked at February's most popular Times stories for Australian readers and readers around the world, these two came up: • Do Not Disturb: How I Ditched My Phone and Unbroke My Brain • Let Children Get Bored Again: Boredom teaches us that life isn't a parade of amusements.
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Mr. Redstone's stake in National Amusements is to be held by a trust after he dies or is found to be incapacitated, in which case voting control passes to seven trustees, including Mr. Dauman and Ms. Redstone, setting up a potential showdown over who will lead the company into the future.
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The Batavia police are seeking a man suspected of stealing $75 dollars out of a photo booth at the Funway Amusements arcade and bowling alley in Batavia, Illinois, who apparently neglected to consider the fact that he was robbing a machine designed to take photographs of the people inside of it.
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Mr. Redstone, who controls 80 percent of Viacom through his National Amusements holding company, has been good to Mr. Dauman, who has received over $1303 million in salary, bonuses, equity awards and other benefits in his nearly 10 years with the company, according to an analysis by Equilar, a compensation consultancy.
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"Viacoms clear need for greater negotiating leverage after being dropped by AT&T might be the final factor necessary to drive the long-speculated CBS-Viacom merger given the common control of both companies by the Redstone-controlled National Amusements," Credit Suisse analyst Doug Mitchelson said in a research note this week.
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Other examples include Chris Burden's "Urban Light" outside the Los Angeles County Museum of Art, James Turrell's "Aten Reign" at the Guggenheim in 2013, but also fun-house amusements that are only sort of art, like the Rain Room, Random International's 2013 immersive environment, or the fluorescent "art experiences" called Meow Wolf.
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BUSINESS DAY An article on the DealBook page on Wednesday about the status of litigation over the future of Viacom referred incorrectly to a decision that would need to be made on the mental competency of the media magnate Sumner M. Redstone, who controls the company through his National Amusements theater chain.
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"Viacom's clear need for greater negotiating leverage after being dropped by AT&T might be the final factor necessary to drive the long-speculated CBS-Viacom merger given the common control of both companies by the Redstone-controlled National Amusements," Credit Suisse analyst Doug Mitchelson said in a research note this week.
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NEW YORK, Sept 9 (Reuters) - CBS Corp has reached a deal to settle litigation over the control of the company with its controlling shareholder Shari Redstone and National Amusements Inc in a deal expected to be announced as early as before the markets open on Monday, sources familiar with the discussions said.
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Cabrera also must provide: annual passes to Walt Disney World and other local amusements; a $5 million life insurance policy with both children named as beneficiaries until the youngest one turns 18; a check to pay off the mortgage of Rodriguez's nearly $1 million house; and back child support of nearly $90,000.
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Let's recap the kind of power that National Amusements has over the corporate siblings, thanks to its dual classes of stock: • Despite owning just over 10 percent of the outstanding shares at CBS and just under 10 percent at Viacom, the Redstones have about 80 percent of the voting power at both companies.
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The two men claim in the suit, which was filed Monday, that Mr. Redstone was not competent and was manipulated by his daughter last week when he ejected them from the trust and the board of National Amusements, the private theater chain that controls 80 percent of the voting stock in Viacom and CBS.
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Viacom and CBS, both controlled by the Redstone family's National Amusements Inc, have worked out a management structure that would see Viacom Chief Executive Officer Robert Bakish leading the combined company if a merger deal is reached, sources familiar with the matter said on Friday, removing a major roadblock in talks to recombine the corporations.
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But what had been a cold war started to burn hot on Monday, when a lawyer representing the network and its key board members filed a lawsuit against National Amusements and Ms. Redstone, seeking a temporary restraining order to prevent her from interfering with a special meeting of the CBS board scheduled for Thursday.
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In the time between the announcement and its official release yesterday, developers have used ARKit to create apps for big brands like The Food Network and AMC's The Walking Dead, as well as for smaller, but no less important amusements like this demo that does nothing but visualize AR tea cups resting on top of a good dog.
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It would also conclude the legal battle between Dauman and Redstone in Massachusetts over the CEO's removal from National Amusements Inc, the privately held company that holds Redstone's Viacom and CBS Corp voting shares, as well as the trust that will determine the fate of both media companies when the 93-year-old dies or is deemed mentally incapacitated.
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In a statement on Friday, National Amusements — the private theater chain company owned by Sumner M. Redstone — called Paramount one of Viacom's most valuable assets and said that pursuing a sale now could hinder Viacom's business prospects as well as limit the value of a sale for all of Viacom at some point in the future.
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In several conversations early this year, the 68-year-old Mr. Moonves — who National Amusements asserts has collected nearly $700 million in compensation during his tenure at CBS — assured Ms. Redstone he "wouldn't stand in the way" of a merger and, in any event, was ready to move on to the "next chapter" in his life.
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After years of being estranged from her father and isolated from the family business, Ms. Redstone was thrust unexpectedly into the role of media mogul after she reconciled with her father, ousted his two girlfriends from his Beverly Hills mansion, and gained control of the family trust that controls National Amusements and, in turn, CBS and Viacom.
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