Telecoms Down Amid Deal Positioning -- Telecoms Roundup
May 16 2018 - 5:09PM
Dow Jones News
Shares of telecommunications companies ticked down amid further
deal machinations. Shari Redstone family holding company, National
Amusements, issued a change to CBS's bylaws on Wednesday in an
attempt to block the board's ability to dilute its voting power.
According to previous reports, CBS's board was seeking to thwart
the Redstone family holding company's "supervoting" powers as part
of its resistance to a merger with Redstone-backed Viacom. 21st
Century Fox has named Lachlan Murdoch as chairman and chief
executive of the proposed remainder of the Fox company if its
pending deal to sell most of its assets to Walt Disney closes.
Rupert Murdoch, Mr. Murdoch's father, would serve as co-chairman,
21st Century Fox said Wednesday. Executives at Walt Disney are
weighing the return of animation guru John Lasseter in a new role
that would reduce his managerial power but allow him to retain
creative influence, The Wall Street Journal reported. Mr. Lasseter
made his name as the creative force behind many classic Pixar
cartoons, but took leave under a cloud when Disney opened an
investigation into alleged infractions. The decision is likely to
draw scrutiny as corporations struggle to deal with executives
associated with the #MeToo movement.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
May 16, 2018 16:54 ET (20:54 GMT)
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