NEIL CAVUTO.
TAKE IT AWAY.
NEIL: THANK YOU VERY MUCH, MY
FRIEND.
BIG DEVELOPMENTS IN THE
ENTERTAINMENT WORLD.
BLOOM IS OFF THE ROSE, WHETHER
THERE WAS BLOOM OFF THE ROSE
UNLESS IT WAS A THORN.
CBS AND REDSTONES AND VIACOM,
THEY'RE ALL IN A NASTY FIGHT
RIGHT NOW THAT INVOLVES SHERI
REDSTONE, LESLIE MOONVES, REALLY
INVOLVES A LOT OF BICKERING BACK
AND FORTH WHO SHOULD ULTIMATELY
CONTROL THIS ENTERTAINMENT
POWERHOUSE.
CHARLIE GASPARINO WITH THE VERY
LATEST.
CHARLIE WHAT IS GOING ON?
>> NEIL, THIS IS A CORPORATION
VERSION OF A MMA CAGE MATCH.
GO BACK UP.
SHARI REDSTONE CONTROLS NATIONAL
AMUSEMENT.
THAT HOLDING COMPANY CONTROLS
TWO OTHER COMPANIES, CBS AND
VIACOM.
SHE WANTS TO MERGE THOSE
TOGETHER.
LES MOONVES IS RESISTING THIS,
HE THINKS VIACOM SIN FEAR I
DON'T REMEMBER PROPERTY AND HE
BELIEVES THAT SHE IS FORCES HIM
TO BASELY OVER PAY.
LESS HLESS SAYS, IF YOU FIRE ME,
I WALK OUT WITH
180 MILLION-DOLLAR PAY PACKAGE.
GUESS WHAT I STILL THINK THIS IS
A BAD DEAL.
SHARI HAS NOT FIRED HIM.
THIS IS WHAT HAPPENED, THIS IS
FASCINATING,ALLY WHEN THIS
LAWSUIT, YOU SHOULD FIRE ME I
LAUNCHED A PUBLIC RELATIONS
CAMPAIGN THAT YOU'RE BAD FOR
SHAREHOLDERS OF CBS.
I NEVER SEEN SOMETHING WHICH THE
TAIL ACTUALLY WAS THE DOG, CEO
WORKS FOR HOLDING COMPANY AND
ACTUALLY SUES THE BOSS.
BECAUSE HE HAS
180 MILLION-DOLLAR PAY PACKAGE,
GOLDEN PARACHUTE, THERE IS A LOT
MORE IN THAT THING.
HE CAN MAKE MOVIES, CAN DO A LOT
OF STUFF, HE FEELS THAT HE COMES
OUT A WINNER ON THIS EITHER WAY.
AND AT BOTTOM, HE BELIEVES THAT
TAKING VIACOM AT THE PRICE THAT
SHARI WANTED HIM TO TAKE IT IS
BAD FOR CBS SHAREHOLDERS.
WHY TODAY THERE IS A LAWSUIT.
SHARES OF CBS ARE GOING UP
BECAUSE A LOT OF PEOPLE ARE
BETTING HE WON'T HAVE TO TAKE
OVER VIACOM.
SHARES OF VIACOM ARE GOING DOWN,
GUESS WHAT, THEY MIGHT NOT BE
ROUND ONE BEFORE.
THIS IS ROUND THREE NOW.
IN A CAGE MATCH THAT HAS A LOT
MORE ROUNDS LEFT AND IT WILL BE
A LOT OF BLOOD.
THIS IS FASCINATING STUFF, NEIL.
BACK TO YOU.
NEIL: SHEER IS ALREADY, SHARI
REDSTONE, SHE IS
SUMNER REDSTONE'S DAUGHTER.
>> RIGHT.
NEIL: SHE INDICATED IF MOONVES
DOES ANYTHING MORE TO GET IN THE
WAY OF THIS DEAL, IF IT WERE TO
HAPPEN, SHE WOULD GET RID OF HIM
AND EVERY ONE ON THE BOARD.
WHERE IS THIS GOING?
>> HERE IS THE THING.
I KNOW A RIVAL NETWORK POSITED
THAT.
I DON'T KNOW IF I REALLY BELIEVE
THAT.
>> SHE COULDN'T DO THAT ANYWAY,
RIGHT?
SHE MIGHT BE ABLE TO DO IT.
THERE IS A LOT OF STUFF IN LES
MOONVES' CONTRACT, THERE IS
STUFF IN THE BYLAWS OF CBS WHICH
I'M GOING TO READ AFTER THIS
BECAUSE CBS DOES HAVE A
STATEMENT OUT DESCRIBING WHY IT
IS DOING THIS VIACOM WAS STILL
WAITING FOR THEIR STATEMENT MAKE
IT DIFFICULT FOR HER TO REMOVE
HIM.
THE OTHER THING IS, I'M TELLING
YOU THIS GIVES LES MOONVES THE
HAMMER TO FIGHT BACK, IF HE GETS
BLOWN OUT BY HER, THEORETICALLY
SHE COULD FIRE HIM IF HE GETS
BLOWN OUT BY HER HE WALKS AWAY
AS HERO.
LES MOONVES WALKS OUT A REALLY
RICH GUY.
HE HAS TREMENDOUS LEVERAGE.
SHE KNOWS IT.
WHY SHE DIDN'T FIRE HIM.
HE BASICALLY TOLD PEOPLE, LET
HER FIRE ME.
I WALK OUT A HERO.
THE STOCK IS UP.
I DON'T HAVE TO BUY THIS CRUMMY
ASSET.
VIACOM USED TO BE A GOOD
COMPANY.
IT HAS FALLEN ON HARD TIMES.
MTV IS NOT WHAT IT USED TO BE A
FEW OTHER THINGS.
MOONVES IS DOING PRETTY WELL.
HE LOOKS LIKE A HERO EITHER WAY
AND RICH MAN HERO.
NEIL: BY THE WAY A FREE AGENT IN
THE EXTREME CASE THERE.
>> YOU'RE ABSOLUTELY RIGHT.
FREE AGENT WITH 180, DEPENDING
HOW YOU READ THE CONTRACT, I'VE
SEEN ALL THE NUMBERS, ANYWHERE
FROM 150 MILLION TO $200 MILLION
WILL BE DEPOSITED IN HIS BANK
ACCOUNT MINUTE YOU FIRE HIM.
NEIL: THAT IS GASPARINO DOUGH.