Philippe Dauman, CEO of Viacom
New York - The Council of Viacom rejected an offer of Sumner Redstone lawyers for one of the company's independent directors personally meet with the media mogul, 93, to understand their view of the media company, confirmed an door- Redstone's voice on Monday.
The rejection of a possible tentative agreement shows how opposites are the two sides in the struggle for legal control of Redstone media empire, valued at 40 billion dollars, amid questions about whether the tycoon is taking their own decisions or is lucid enough to do it.
Redstone offered to meet the independent director of Viacom Charles Phillips days after the leading independent director of Viacom Fred Salerno present a process of change that Redstone made on June 16 to evict him and four other directors, including Chief Executive Viacom, Philippe Dauman, the Viacom board, reported Reuters exclusively on Monday. Last week Salerno vetoed the idea, opting instead to continue with the case, sources told Reuters.
Viacom and Phillips declined to comment. For investors, the impasse may mark the beginning of a long legal battle that will prolong uncertainty about the future of Viacom.
The company's shares had low 5.1 percent on Monday in a broadly negative market.
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