CBS' Leslie Moonves: Sumner Redstone Supports Radio Sale Or Spinoff
May 26, 2016 at 1:27 PM (PT)
CBS CORPORATION Chairman and CEO LESLIE MOONVES told the company's shareholders meeting that the proposed sale or spinoff of CBS RADIO has ailing former Chairman and controlling shareholder SUMNER REDSTONE's support, reports VARIETY.
Asked at the meeting if jettisoning the radio division was contingent on REDSTONE's approval, MOONVES said, "Our situation with radio has absolutely nothing to do with VIACOM.... We have received full support from Mr. REDSTONE with what we are doing.”
REDSTONE, his daughter SHARI, MOONVES, and 10 other individuals were elected to the CBS board at the meeting.