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what my views were,” Redstone says. of sexual misconduct at the company.
“So I kind of came in, and I gave my Rose apologized for his inappropriate
dad that whole sense. And even at the behavior but said not all of the allega-
end of that, I think when he understood tions were accurate.
what was going on in the company, he But the most powerful executive at
wasn’t ready to let Philippe go.” risk was Moonves, who in July 2018
Then one day in February 2016 found himself the focus of a story pub-
Dauman drove past the metal gates of lished in the New Yorker reporting al-
Sumner’s home in the exclusive Beverly legations of sexual misconduct and
Park neighborhood to propose sell- threats of retribution. Moonves re-
ing an equity stake in Paramount, in signed in September 2018, and six new
a meeting vividly described in Keach members joined the CBS board. With
Hagey’s biography of Sumner, The King interim CEO Joseph Ianniello in place,
of Content. Sumner’s 1994 triumph over the company moved swiftly to repair a
Bob Bakish;
QVC Chairman Barry Diller in the pur- culture described as toxic and misogy-
ViacomCBS’s
suit of Paramount, the oldest surviving new CEO won nistic—donating $20 million to organi-
film studio in the U.S., was the career confidence with a zations committed to eliminating work-
digital strategy he
victory he would savor most. Selling it perfected overseas. place harassment, installing a new chief
was tantamount to treason. people officer and naming a woman,
Sumner instructed his lawyers not to Susan Zirinsky, president of CBS News.
sell, but it was his daughter he turned to be in the best interest of the company “I was speaking before a women’s
to ensure that it didn’t happen. and its shareholders: CBS chief execu- group. . . and they said to me, ‘After ev-
“I said to him, ‘I will do this, but this tive Les Moonves. erything you’ve been through, why
is your battle,’” she recalls. “It wasn’t my Moonves was hired in July 1995, tak- shouldn’t every woman in this room be
battle for me. It was my battle for him.” ing over as president of CBS Entertain- pessimistic?’” Redstone recalls. “‘Be-
ment when the Tiffany Network was the cause I’m here, because we can do this.’
Shari Redstone says she had no master laughingstock of the television industry. But this is a moment in time where, I
blueprint for the fight ahead. “It wasn’t The savvy programming executive, who think, we can’t drop the ball. We have
a long-range plan because I kept having had green-lighted Friends and ER, set an opportunity and a responsibility to
short-range challenges,” she says. out making hits like CSI, NCIS and Cold do what we can to have an impact.”
By March 2016, Dauman and Viacom Case, transforming CBS into the nation’s
board member George Abrams had both most-watched broadcast network, win- Her two chief rivals having been dis-
been removed from the seven-person ning himself the CEO title and titan sta- patched and imploding, respectively,
family trust. That pair sued, challenging tus in the process. Moonves had little Redstone’s ascension went from a long
Sumner’s mental competency and ac- interest in taking on the woes of the shot to almost a fait accompli. While
cusing Shari of manipulating her father. network’s struggling corporate sibling, it wasn’t made official until this past
Then Dauman was removed from the Viacom, and even went to court to August, when CBS and Viacom an-
Viacom board along with four other pli- block the merger with Viacom. nounced their $12 billion merger deal,
ant directors. A new legal challenge was Then came the #MeToo movement, Shari Redstone began looking to the fu-
mounted, but before the courtroom dra- which quickly ensnared CBS. The com- ture last year.
mas could play out, Dauman agreed to pany first fired CBS This Morning host To get there she will need to keep the
a lucrative exit, which included $58 mil- Charlie Rose, citing reports of “dis- family on her side. Sumner’s 80% stake
lion in severance pay. turbing and intolerable behavior,” and will be divided in two on his passing,
Shari was faced with one more sig- then 60 Minutes executive producer half for the benefit of his descendants,
nificant opponent, an executive she’d Jeff Fager for “violating company poli- whose trustees will include Shari and
considered a trusted friend, who stood cy”—specifically, threatening a CBS re- her son as well as others with long ties to
in the way of the merger she felt would porter who was following up on reports members of the family, including divorce
CHRISTOPHER GOODNEY/BLOOMBERG “BECAUSE I’M HERE, BECAUSE WE CAN DO THIS.” ecutive. The other trust will be for the
lawyers for Sumner and his former wife,
Phyllis, and a National Amusements ex-
THEY ASKED, “AFTER EVERYTHING YOU’VE BEEN
T H RO UGH, W HY SH OULD N’T EVERY WO MA N IN
benefit of Phyllis. In other words, more
drama could be on the horizon.
TH I S RO O M BE P ESSIMISTI C?” SHA RI A N SWE RED,
Shari Redstone will have a critical
ally in Bob Bakish, who had been run-
ning Viacom International Media Net-
DECEMBER 2019 / JANUARY 2020 FORBES ASIA | 59
