CBS in talks with Redstone family holding company to settle litigation: report

CBS Corp. is in talks with Shari Redstone and her family's holding company to settle the bitter legal battle over control of the broadcaster, according to a Wednesday report in The Wall Street Journal, which cited people familiar with the matter. This comes a month before the matter is scheduled to go to trial. CBS CBS, +2.99% and the Redstone family's holding company, National Amusements, have been locked in litigation in Delaware Chancery Court since May, the report said. According to the Journal's sources, a potential settlement would include CBS dropping its attempt to take away National Amusements' voting control of the company, and National Amusements agreeing to refrain from pushing for a merger of CBS and Viacom Inc. VIAB, -0.41% for a period of a time. CBS shares have fallen 10% so far this year, while Viacom shares have fallen 4.4%. The S&P 500 SPX, -0.45% has gained 8%.

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CBS said to be in settlement talks with Redstone family company

CBS Corp. is in talks with Shari Redstone and her family’s holding company, National Amusements Inc., to settle their litigation over control of the broadcaster, less than a month before the matter is scheduled to go to trial, according to people familiar with the matter.

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