Rusty Coupe
Rotational Player and Threatening Starter's Job
- Joined
- Feb 3, 2008
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- 1,230
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"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
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