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Les Moonves Named CBS Chairman Replacing Ailing Sumner Redstone

Photo Credit: Kathy Hutchins

Photo Credit: Kathy Hutchins

On Wednesday, developments behind the scenes at CBS began to take shape when it was announced that ailing 92-year-old CBS Corporation chairman Sumner Redstone was stepping down from this position due to health concerns.  His replacement is CBS Chief executive, Les Moonves, who will assume the role of chairman.

According to the New York Times: “a lawsuit challenging Mr. Redstone’s mental competance raised questions among analysts and investors about whether Mr. Redstone should continue as executive chairman of CBS and Viacom. Mr. Redstone controls about 80 percent of the voting stock in the two companies.”

The shift at CBS came after Mr. Redstone sent a letter Tuesday to Mr. Moonves and CBS directors announcing his resignation, according to one person briefed on the developments who requested anonymity because they were private.

The board subsequently met Wednesday and first offered the chairman position to Mr. Redstone’s daughter, Shari. Ms. Redstone, who now is vice chairwoman of CBS and Viacom, declined and nominated Mr. Moonves for chairman of CBS corporation.. The board voted unanimously for the appointment.

“I have been fortunate to work with Les and he has clearly established himself as a creative and effective leader who understands both the challenges and the opportunities that are shaping today’s media landscape,” Ms. Redstone said in a statement. “I am sure he will make a great chair and I look forward to working with him for many years to come.”

Mr. Moonves, one of the most highly regarded TV executives, has been president and chief executive of CBS since 2006. He will continue in those positions.  “I want to thank  Sumner for his guidance and strong support over all these years,” Mr. Moonves said in a statement.

Mr. Redstone controls the voting stock in Viacom and CBS through his private holding company, National Amusements. If Mr. Redstone dies or is found to be incapacitated, his stake in National Amusements is to be held by a trust. Voting control will go to seven trustees. Those trustees include Ms. Redstone and Philippe P. Dauman, chief executive of Viacom.

In a separate statement, Ms. Redstone confirmed that the terms of her father’s trust state that she succeed him as nonexecutive chairwoman at both CBS and Viacom.  Separately, Ms. Redstone had made a deal with Mr. Moonves for him to take on the chairmanship at CBS, according to people briefed on the discussions.

Moonves is one of the nation’s highest paid executives. He saw $57.2 million in compensation in 2014, CBS reported in its proxy. His packages averaged $62.8 million a year in the five years that ended in 2014.  In late 2014, the company extended Moonves’ contract by two years to mid-2019. The agreement included incentives to keep him on board as a “Senior Advisor and/or Producer” for an additional five years after the term ended.

The new CBS chairman is married to The Talk and Big Brother host, Julie Chen.

So, what do you think about Les Moonves position with CBS? With this shift in power at the corporation of CBS, Moonves becomes even more powerful within the industry and more.

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0 Comments

  1. JustSaying

    February 3, 2016 at 6:49 pm

    Corporate politics as I see it.

    • su0000

      February 3, 2016 at 10:37 pm

      Without Corporate politics we wouldn’t have Y&R..
      It’s the way the game is played, and looks like CBS knows how to play it..

  2. elm51

    February 4, 2016 at 5:17 am

    80% of the voting block for viacom & cbs – now that is powerful!

  3. Mary SF

    February 4, 2016 at 7:53 am

    One of the reasons networks do not have the budget for daytime is because they are paying these over the top salaries to their executives– I”m sorry unless you can cough up golden eggs or your tears are diamonds I just don’t see how one person warrants the kind of money corporations shell out to the few people on the top of their food chain

    • Jim Preston

      February 4, 2016 at 9:43 am

      Here Here I completely and wholeheartedly agree ~

    • 4ever DAYS

      February 5, 2016 at 12:36 pm

      That’s why the soaps die, Mary. A small fraction less pay to the big shots would be enough for the soaps to live long after all of us are dead and gone!

      He and the rest of them should choke on their filet mignon!!!

  4. Brett

    February 4, 2016 at 7:58 am

    Looks like The Talk is safe anyway, sigh……

  5. 4ever DAYS

    February 4, 2016 at 9:26 am

    Hey Y&R and B&B viewers, that’s the man who killed GL and ATWT in favor of ‘Let’s Make a Deal’ and his wife’s ‘The Talk.’

    Keep watching those replacement shows and soon there will be no more Y&R or B&B.

    The head honchos want more money and killing the soaps do the trick unless the alternative programs crumble!

    • JANET

      February 4, 2016 at 3:54 pm

      I agree. I lost GL and ATWT so no matter what That is one channel I avoid. I wouldn’t watch the view if it was the only show on all of TV. Plus paying him all that money means the fans can’t have what they want. PBS does the same over pays the top women in their case, so they can cry We need sponser’s. When hell freezes over and the devil wears ice skates.

    • jaybird369

      February 5, 2016 at 5:47 am

      4ever DAYS…as far as I’m concerned, the ‘head honchos’ on A-L-L 3 of the networks (ABC, CBS and NBC) don’t care about us soap viewers…or what we want!!!!! I feel that they only care about their own $$$ pockets. BEYOND SAD AND EVEN MORE DISGUSTING!!!!!

  6. Lauren

    February 4, 2016 at 8:22 pm

    Wow, what an inflated salary! I agree w/other comments in feeling that NOBODY deserves that type of salary when the network is floundering on money for the programs. Hopefully he gets rid of Jill! Faren Phillips and Angela McDonald!

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News

Who Will Be B&B’s New Love Interest For Steffy Forrester?

The Bold and the Beautiful is back in production, the first soap to do so amidst the coronavirus pandemic, and there has been much speculation and talk for awhile now as to just what the future holds in story for one of its leading stars, Daytime Emmy-winner, Jacqueline MacInnes Wood (Steffy Forrester).

It appears that instead of re-treading a romance for Steffy with Dollar Bill Spencer (Don Diamont) or his son, Liam Spencer (Scott Clifton), the series is about to bring in some new suitors into Steffy’s romantic life!

According to B&B’s executive producer and head writer, Brad Bell, he has big plans for Jacqui in the months ahead, as he related to TV Insider.

When Bell was asked about the new love interest coming in to the show for Steffy,  he revealed: “We have a great story coming up for Jacqui. Steffy has been committed to her work, her daughter Kelly…but people have been wondering when a new man will enter her life. He’s coming. She’ll have a period of time where, in fact, quite a few men will be after her – as they should be. She’s spectacular and unique. I’m thrilled to say that this next chapter will be very much about Steffy. I always feel comfortable putting drama in the hands of Jacqui Wood.”

In addition, recently on  The Michael Fairman Channel’s recent Daytime-Emmy virtual chat with Wood, Scott Clifton and Heather Tom, the actress also alluded to a potential new love interest for Steffy, too.   You can watch that below.

So, who would you suggest to play opposite Jacqueline MacInnes Wood as her new love interest?  Share your casting thoughts via the comment section.

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Breaking News

Kristian Alfonso Departs Days of our Lives After 37 Years

In a bombshell announcement, Days of our Lives enduring and ever-popular star, Kristian Alfonso (Hope Williams) has decided to make her exit from the NBC daytime drama series after more than 37 years in her role.

Kristian made her debut as a teenaged Hope Williams in 1983 and quickly rose to popularity and became soap-famous; along with her on-screen romance to Bo Brady then played by Peter Reckell. Together as one of soaps most all-time popular duos and separately, Alfonso has remained one of soap opera’s most notable performers.   There were only two times throughout her time in Salem, that Kristian took breaks from the show; during one of them she starred on CBS’s Falcon Crest.

According to Deadline who broke the news; in a statement to the outlet, Alfonso shared, “I feel blessed and honored to have been invited into people’s homes for over three decades. However, it is now time for me to write my next chapter.”

And it appears its already a wrap for Alfonso, who will not be returning to the series when the show is planned to return to production in the fall and come early September.

Kristian added:  “I will not be returning to Days when it resumes production in September.  I’ve already filmed my last episode several months ago.”

In a heartfelt post on her Instagram account, the actress gave special thanks to the late Betty Corday (mother of DAYS EP Ken Corday), and of course, her millions of fans who loved her as Hope throughout her time on the soap.  You can read it in full below.

 

View this post on Instagram

 

#❤️ #😘

A post shared by Kristian Alfonso (@kristianalfonso) on

So, what do you think about Kristian Alfonso’s exit from Days of our Lives?  Are you heartbroken to see her go? Share your thoughts via the comment section below.

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General Hospital

GH’s Mark Lawson Fuels At-Home Workout With Soap Opera Competition: “Dante, Dante, Dante, Dominic, Dominic, Dominic … But What About Dustin?”

As fans and colleagues of General Hospital and former One Life to Live star, Mark Lawson (Dustin, GH) know, he often posts on his Instagram account at-home workouts from his garage including: exercises with: kettlebells and free weights. In real-life, Lawson is a fitness guru, as well.

In one of his most recent posts over the holiday weekend, Mark used the constant chatter of a potential return of Dominic Zamprogna to GH to reprise his role of Dante Falconeri (which would pit Mark’s school teacher alter-ego Dustin at-odds with Dante, for the love of Lulu (Emme Rylan)) to charge up his workout routine! So what’s a guy to do?  Bicep curls!

Next, fueling his workout in a hilarious send-up, Lawson, as he is curling dumbbells remarks: “You want Dante back? Dante, Dante, Dante … Dominic,Dominic,Dominic … It’s all you talk about.  It’s all you care about, but what about Dustin?  What’s up with Dustin?  Where’s good guy Dustin? School teacher Dustin, who never shot nobody.  Never hurt anybody and all he wanted was a girlfriend.   All everybody talks about is Dante, Dante, Dante. Dominic, Dominic, Dominic.”

You can watch Mark’s IG post below!

Then let us know, if you hope there will be some healthy soap opera competition for the love of Lulu down the line between Dustin and Dante, if Dominic returns to the show.  If he does return, would you be Team Dustin or Team Dante? Share your thoughts via the comment section.

 

View this post on Instagram

 

Dante Dante Dante. #anactortrains #trainasif #healthycompetition #goodguydustin #dustinislosingit

A post shared by Mark Lawson (@themarkmlawson) on

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Video du Jour

B&B’s Heather Tom talks with Michael Fairman immediately following her record-tying win in the Lead Actress category during the 47th annual Daytime Emmy Awards.  Heather and Erika now hold the most wins for an actress with 6! Leave A Comment

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