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Philippe Dauman ousted as Viacom CEO in settlement with Sumner Redstone family

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Philippe Dauman was ousted as CEO of Viacom this evening, during a meeting of the media company’s board that ended a multi-pronged legal battle with the company’s founder, Sumner Redstone, and his daughter Shari Redstone, a person with knowledge of the situation confirmed to TheWrap.

The meeting should wrap up in about an hour from this time of this initial publishing, and the settlement will officially be announced this evening, we’re told.

Viacom’s board has approved an agreement that would remove Dauman after 10 years as the top executive at the company and install COO Thomas Dooley as interim chief executive, effective immediately. Dauman, who is set to receive a golden parachute package worth $72 million, will step down as CEO — though he’ll remain non-executive chairman through September 13. Dooley will hold the interim top executive title through Sept. 30, buying the board time to assess and evaluate for the future.
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http://www.thewrap.com/philippe-dauman-ousted-viacom-ceo-settlement-redstone/
 
TheBigA said:
No real need for that now, and Redstone is against it.
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Also if the merger happened again then CBS would end up with more issues for instance the all too familiar Contract dispute between CBS O&O's, CW affiliates owned by CBS and the Viacom cable channels such as Comedy Central with the cable carriers if that happens and of course the regulatory issues that comes with a merger. Besides CBS in unrelated issues just spun off their CBS Radio division recently. Also for Viacom to survive at this point they would have to create content that's app only and has some growth on the digital side and of course the target audiences in mind.
 
RadioPatrol said:
Contract dispute between CBS O&O's, CW affiliates owned by CBS and the Viacom cable channels such as Comedy Central with the cable carriers if that happens and of course the regulatory issues that comes with a merger.
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What "contract disputes" are you talking about? The situation with CBS and CW exists within CBS, and has nothing to do with Viacom.

There shouldn't be any regulatory issues. The companies haven't really added any assets since the split.

My sense is that Viacom is well aware what it needs to create, and is moving in that direction. Any merger would have nothing to do with content. It's strictly about the stock. That's why they split, and it's the only reason they're combine.
 
RadioPatrol said:
Besides CBS in unrelated issues just spun off their CBS Radio division recently.
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No, the separation of CBS Radio from its parent has not yet happened and is now being discussed as something for 2017. Even when it happens, the IPO will apparently be for a minority of shares with CBS still being the major shareholder.
 
TheBigA said:
What "contract disputes" are you talking about? The situation with CBS and CW exists within CBS, and has nothing to do with Viacom.

There shouldn't be any regulatory issues. The companies haven't really added any assets since the split.

My sense is that Viacom is well aware what it needs to create, and is moving in that direction. Any merger would have nothing to do with content. It's strictly about the stock. That's why they split, and it's the only reason they're combine.
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Good point though. Wow I did not realize I was using the phrase "contract disputes" like Pavlov's conditioning though.

https://en.wikipedia.org/wiki/Classical_conditioning
 
The outcome of this 'fight' was never really in doubt. Ownership was going to prevail. CBS is better off as a separate entity.
 
There is absolutely no reason why Viacom can't be as successful as Disney. In fact that's the perfect model of a WELL RUN multi media content creation company. Disney has adapted to the changing marketplace quicker and better than Viacom, and that's why they're a better investment. Disney still owns a movie studio, but it's integrated into all their other businesses. That's not the situation with Paramount. Viacom needs to recognize the business it's in, hire people who understand that business, and know how to create new products that people will buy. Otherwise, they might as well get into the museum business.
 
if Viacom sales of Paramount, then they open the floodgates for a potential merger with either Time Warner or NBCUniversal/Comcast but i don't know if the DOJ or the FCC would approve that if it does happen.
 
Will_H_69_9 said:
if Viacom sales of Paramount, then they open the floodgates for a potential merger with either Time Warner or NBCUniversal/Comcast but i don't know if the DOJ or the FCC would approve that if it does happen.
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On what basis do you make such a statement? I suggest that TW has learned its lesson about mergers, and Comast is already beating Viacom without taking on the additional debt.
 
TheBigA said:
On what basis do you make such a statement? I suggest that TW has learned its lesson about mergers, and Comast is already beating Viacom without taking on the additional debt.
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it's called a forum for a reason, we can discuss about this and make wild guesses, we are just normal people, we aren't in the TV business. some of us members of the forums are in the radio business (not me of course, just a fan of radio).
 
Will_H_69_9 said:
it's called a forum for a reason, we can discuss about this and make wild guesses, we are just normal people, we aren't in the TV business. some of us members of the forums are in the radio business (not me of course, just a fan of radio).
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There's a way to make a "wild guess" that isn't stating it as fact.

So you make your "wild guess," and I'm calling you out on it, saying there's no chance it will happen. Except I gave some possible reasons why.
 
TheBigA said:
There's a way to make a "wild guess" that isn't stating it as fact.

So you make your "wild guess," and I'm calling you out on it, saying there's no chance it will happen. Except I gave some possible reasons why.
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just stop it with the bickering TheBigA, i swear you are just trying to start a fight and getting a thread lock, do you want me and you banned from here, no

so just drop it ok.
 
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