Kraft Resigns From Viacom Board

Rusty Coupe · Aug 7, 2015

"Robert K. Kraft notified the board of directors of Viacom Inc. that he was stepping down from the board ... noting that his obligations elsewhere had increased to the extent that he no longer felt capable of fulfilling his duties as a member of the board," Viacom said in a regulatory filing on Friday.

Although Viacom does not have a relationship with the NFL, its corporate sibling, CBS Corp., holds valuable NFL rights. Those rights include broadcasting regular season Sunday AFC games and sharing the "Thursday Night Football" package with the NFL Network.

Both CBS and Viacom are controlled by media mogul Sumner Redstone.

Kraft has been a member of the Viacom board for nearly a decade.

http://www.latimes.com/entertainmen...robert-kraft-viacom-board-20150807-story.html

cont....

Kraft’s departure, which took effect Aug. 5, came amid a selloff of media stocks, as investors reassess the health of the cable-TV industry. Viacom, owner of MTV, Comedy Central and Nickelodeon, lost 20 percent of its value this week. Kraft is contending with the fallout related to a National Football League investigation of the Patriots

...Viacom gained 3.1 percent to close the week at $45.47, down from $57 a week ago, after reporting third-quarter sales that missed analysts’ estimates. The shares have dropped 40 percent this year.

http://www.bloomberg.com/news/artic...riots-owner-kraft-resigns-from-viacom-s-board

ctpatsfan77 · Aug 7, 2015

The only reasonable inference I can draw from this is, "Hmmm."

shmessy · Aug 7, 2015

And the plot thickens............

Wonder if this is a move to clear the way for Kraft to take on the NFL in court without it reflecting on CBS.

Could be a way to clear the deck against repercussions hitting innocent bystanders.

(Guess we'll know something is really up when the CBS Scene turns into a Hooters).

borg · Aug 7, 2015

Rusty Coupe said:
http://www.latimes.com/entertainmen...robert-kraft-viacom-board-20150807-story.html

Or Goodell had CBS shove Kraft out.............come on Krafty....your volley

n6249c · Aug 7, 2015

Interesting that Kraft was on Viacom's board and at the same time involved in negotiating broadcast rights for the NFL. And that he'd resign now.

n6249c · Aug 7, 2015

n6249c said:
Interesting that Kraft was on Viacom's board and at the same time involved in negotiating broadcast rights for the NFL. And that he'd resign now.

Wonder if this is a way to put pressure on the other owners? Force them to decide who is going to take the lead negotiating a TV deal without an inside contact with the network's owner, and at a time that the brand is damaged. Makes damage control vital, big part of that is not doing more damage. There's enough of a record to convince them that Goodell's a sure bet to do more damage. They may decide firing him is cheaper than covering that bet on sure damage.

brap999 · Aug 7, 2015

Maybe it's because I'm not a billionaire that owns a top 3 NFL franchise ... but if I was an NFL owner I feel like I'd drop all my other business commitments and business ventures and focus on just owning a history making NFL team.

Couple that with all the crap going on the past few years with the NFL vs Patriots, and I can see why he may want to put all his focus into the team.

Then again, that may explain why my business makes less than a single player

nabwong · Aug 7, 2015

brap999 said:
Maybe it's because I'm not a billionaire that owns a top 3 NFL franchise ... but if I was an NFL owner I feel like I'd drop all my other business commitments and business ventures and focus on just owning a history making NFL team.

Couple that with all the crap going on the past few years with the NFL vs Patriots, and I can see why he may want to put all his focus into the team.

Then again, that may explain why my business makes less than a single player

Why are you on a pats forum jerry?

GrogansArmy · Aug 7, 2015

In Joe Biden's voice "This is a big ducking deal!"

Seems almost like Kraft is trying to cut ties from anyone (friend) that could be harmed by him going nuclear on the NFL... at least that is my hope.

Wax Frog · Aug 8, 2015

brap999 said:
Then again, that may explain why my business makes less than a single player

Brady2Moss · Aug 8, 2015

Kraft to the other 31 owners: "You're in big f******* trouble!"

Patsfanin Philly · Aug 8, 2015

Kraft to the owners,
" Yes, you are making oodles of $$ under Goodell but I was the main architect of that TV deal and helped craft a new CBA ending the work stoppage. Let's see what happens to that gravy train if I take my bat and ball and go home......You figure it out this time...."

fair catch fryar · Aug 8, 2015

borg said:
Or Goodell had CBS shove Kraft out.............come on Krafty....your volley

Would Kraft voluntarily step down in order to acquiesce Goodell's demand? I think not.

borg · Aug 8, 2015

fair catch fryar said:
Would Kraft voluntarily step down in order to acquiesce Goodell's demand? I think not.

Every day in the business world, employees are given the choice, "step down" or be fired. Employees who don't want a tarnished record/reputation usually choose resignation.
Regardless.....just having some fun at Bob's expense.
I do agree with you....at this point in time, I think Kraft would embrace any "NFL leveraged termination" of his duties and be more than happy to publicly "discuss" the situation. I'm just waiting for Bob to publicly question Goodell's competence. While we wait for hell to freeze over, a few whispers of dissension out of the next owners meeting would be satisfying
PS......how great would it be to have some media member float the notion that Kraft was forced out due to Goodell's influence. Fair is fair. Goodell never has a problem feeding garbage to his media minions......fire with fire.

PatsWickedPissah · Aug 8, 2015

It's simply because he's an old geezer and needs his energy for his companion. He needs to relinquish the team to his son Jonathan and limit his role to obsequious glad hander, his best talent.

Rob0729 · Aug 8, 2015

"My sources tell me Robert Kraft only joined the Viacom board to get a better advertising rate to sell macaroni and cheese to teens on MTV, but with MTV's ratings declining so much he no longer needs it." - Ben Volin

Rob0729 · Aug 8, 2015

I wonder if the CBS Scene at Gillette stadium will be renamed.

XLIX · Aug 8, 2015

Rob0729 said:
I wonder if the CBS Scene at Gillette stadium will be renamed.

I just hope they don't take down the outdoor TV screen visible only from the Patriots sideline because that gives us a tremendous, unfair advantage over opponents.

RobertWeathers · Aug 8, 2015

Traditional cable TV and media have a BIG problem on their hands. Their delivery model is antiquated. Their core consumers are different now.

If Kraft was looking for leverage vs the NFL he would have stayed on Viacom's board. He abdicated his voting rights. Maybe there is a conflict of interest that people are suddenly concerned with?

The other question is did he sell his holdings.

raduray · Aug 8, 2015

borg said:
Every day in the business world, employees are given the choice, "step down" or be fired. Employees who don't want a tarnished record/reputation usually choose resignation.
Regardless.....just having some fun at Bob's expense.
I do agree with you....at this point in time, I think Kraft would embrace any "NFL leveraged termination" of his duties and be more than happy to publicly "discuss" the situation. I'm just waiting for Bob to publicly question Goodell's competence. While we wait for hell to freeze over, a few whispers of dissension out of the next owners meeting would be satisfying
PS......how great would it be to have some media member float the notion that Kraft was forced out due to Goodell's influence. Fair is fair. Goodell never has a problem feeding garbage to his media minions......fire with fire.

I think this has gone beyond whispers. He needs to start by recanting his support of Goodell in previous cases (Bountygate and SalaryCapGate). He is as responsible as anyone in creating the Goodell monster.

Kraft Resigns From Viacom Board

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