Former longtime CBS executive Joseph Ianniello has launched a special purpose acquisition company, or SPAC, with a handful of former colleagues to scout for acquisitions in media, entertainment and sports.
Former longtime CBS executive Joseph Ianniello has launched a special purpose acquisition company, or SPAC, with a handful of former colleagues to scout for acquisitions in media, entertainment and sports.
Joseph Ianniello, the former acting CBS CEO, denied claims of unjust enrichment and other allegations in a shareholder lawsuit contesting the 2019 merger of Viacom and CBS.
CBS stockholders can continue to pursue a lawsuit over the 2019 merger of Viacom and CBS, a Delaware judge has ruled.
Gene Maddaus Senior Media WriterA Delaware judge has allowed CBS stockholders to sue over the 2019 merger of Viacom and CBS, finding a reasonable claim that former CBS chief Joseph Ianniello “sold” his support for the deal to Shari Redstone in exchange for a $125 million payout.Ianniello was president and chief operating officer under former CEO Les Moonves, and he sided with Moonves in trying to block the merger, arguing it would be bad for CBS.
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