• Judge denies CBS restraining order against major shareholder

    4 days ago - By Chron

    DOVER, Del. - Most of CBS Corp.'s board on Thursday approved a special dividend that could enable the company to break free from its controlling shareholder, but the power struggle's outcome still hinges on an ongoing legal battle.
    National Amusement Inc., currently CBS's majority shareholder, would have its voting stake reduced from 79 percent to 17 percent if the dividend is issued.
    But that can't happen unless New York-based CBS can overturn a recent change requiring the dividend be approved by a "supermajority" of its 15-member board.
    The dividend was approved by all of CBS's directors...
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  • The Latest: CBS approves dividend in face of likely veto

    4 days ago - By Chron

    DOVER, Del. - The Latest on the battle between CBS Corp. and its controlling shareholders, National Amusements Inc. :
    7:30 p.m.
    Most of CBS Corp.'s board has approved a special dividend that could enable the company to break free from its controlling shareholder, but the power struggle's outcome still hinges on an ongoing legal battle.
    National Amusement Inc., currently CBS's majority shareholder, would have its voting stake reduced from 79 percent to 17 percent if the dividend is issued.
    But that can't happen unless CBS can overturn a recent change requiring the dividend be approved by a...
    Read more ...