NEW YORK — The Wall Street Journal is reporting that CBS and its parent company National Amusements are in talks to settle pending litigation over who controls the broadcaster.
CBS and National Amusements, run by media mogul Shari Redstone, have been duking it out in court since May when CBS attempted to issue a special dividend that would strip National Amusements of its controlling stake in the media company.
According to the Journal, the settlement talks include CBS dropping the dividend. In exchange, National Amusements would agree not to push for a merger between CBS and Viacom, which it also controls. The trial had been set for early October.
The report cited anonymous sources familiar with the matter. National Amusements and CBS both declined to comment.