CBS Owner Discusses Settling ’60 Minutes’ Suit, With Merger Review on Tap
Shari Redstone, controlling shareholder and chair of CBS, has revealed that the company is in talks to settle a long-standing lawsuit brought by the family of journalist Morley Safer, who worked for the network’s flagship news program “60 Minutes.”
The lawsuit, which was filed in 2014, alleged that Safer’s estate was owed millions of dollars in royalties and damages due to the company’s failure to pay him properly for his work on the news magazine program. The lawsuit also claimed that CBS had breached contracts and breached an oral agreement to give Safer a percentage of the profits from “60 Minutes.”
Redstone, who also is chair of ViacomCBS, defended the company’s actions, saying that the allegations were “baseless” and that the settlement talks are only a way to “put an end to this costly and distracting litigation.”
Redstone also announced that the company is looking into a potential merger with Viacom, of which she is also the chair. According to Redstone, the merger will create a stronger company with more resources and opportunities for growth.
Redstone sees the potential merger as a way to increase the company’s competitiveness, citing the changing media landscape and the need for a larger, more comprehensive media company. Redstone also expressed her commitment to the “60 Minutes” program, saying that it remains a “premier” program for the company.
The potential merger and settlement talks are expected to be finalized in the coming weeks, with a review of the details still underway. Redstone expressed confidence that both deals will be completed successfully, stating that “the future is bright” for CBS and Viacom.