Earlier today the board of Viacom voted to promote CEO Philippe Dauman to executive chairman of the media company that includes MTV, Comedy Central and Paramount. This move was in direct contradiction to the wishes of Shari Redstone, the daughter of 92-year-old Sumner Redstone, who resigned as executive chairman yesterday. Shari Redstone felt the company should not be run by someone who is a member of the family or a member of Redstone's trust, which Dauman is. This is the same board that issued Dauman a massive paycheck in a year when the company's stocks dropped 40%. On the CBS side, Les Moonves will take on the role of executive chairman. What remains to be seen is if a court will declare Redstone mentally competent, and what effect that ruling could have on the leadership of Viacom.
FROM THIS EPISODE
More From Hollywood Breakdown
Can inclusion riders improve pay parity? This week we learned Prince Philip was paid more than the Queen herself, at least in the Netflix series 'The Crown.' Matt Smith, who portrays the Prince, came in with a high quote from his years as Dr. Who, while actress Claire Foy was a relative unknown at the time.
LATEST BLOG POSTS
Anti-gun violence activist: ‘I’m so, so angry because it just keeps happening and it doesn’t have to’ (Photo: Demonstration organized by Teens For Gun Reform, an organization created by students in the Washington DC area, in the wake of the shooting at Marjory Stoneman Douglas High School… Read More
Heavy rains bring mandatory evacuations Mandatory evacuation orders are in place for a number of communities in Los Angeles County as an intense storm system continues to make its way across the Southland. Periods of… Read More