Judge Allows Suit Accusing CBS Chief Of Backing Viacom Merger For $125M Payout

A Delaware judge has allowed CBS stockholders to sue over the 2019 merger of Viacom and CBS, finding a reasonable claim that former CBS chief Joseph Ianniello “sold” his support for the deal to Shari Redstone in exchange for a $125 million payout.

CBS: No Extra Pay For Acting CEO Ianniello

CBS Corp. acting CEO Joseph Ianniello will not receive extra compensation for taking on the role as CBS’s interim leader following the forced resignation earlier this month of longtime chairman-CEO Leslie Moonves.

CBS’s Interim CEO Seeks To Calm Troops

Joe Ianniello began his tenure as president and acting CEO of CBS by sending out a memo on Monday morning that sought to both rally and calm the company’s employees after the shocking departure of longtime chief executive Leslie Moonves, which was announced Sunday.

CBS COO Ianniello Talks OTT ‘Arms Race’

CBS Corp. COO Joseph forecast more investment in the company’s direct-to-consumer services, CBS All Access and Showtime, albeit not in the thin air of Netflix’s level of spending. “This is an arms race to get there,” he said today in a keynote appearance at Deutsche Bank’s Media, Telecom & Business Services Conference.


CBS OTT Makes $100M Off Every 1M Subs

CBS is making around $100 million in revenue off both its Showtime and CBS All Access SVOD platforms, according to CBS COO Joseph Ianniello who spoke at Nomura’s 2016 Media, Telecom & Internet Conference. The “back of the envelope math,” as Ianiello called it, is compelling to pay-TV operators, given that CBS has taken the most aggressive position among broadcasters in regards to negotiating retransmission licensing fees, as well as distribution on operator-backed OTT platforms like Sling TV.

CBS Promotes Joseph Ianniello To COO

The company’s chief financial officer since 2009 will now oversee all financial operations.