Led by Moonves, CBS has fought against this, going as far as to file a lawsuit to try and lessen Redstone’s power.
Now, though, CBS has dropped its suit, and National Amusements – the theater company owned by the Redstone family – is adding six new independent directors to the CBS board.
However, the subject of a merger can now not be raised for two years.
The trade report adds that this big shift could wind up changing things in a major way behind the scenes at company – even bigger than you might normally see in a situation where a CEO is ousted from his position.