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The Wall Street Journal: Legal battle likely after CBS board strips Redstone family’s voting power

CBS Corp. and its controlling shareholder National Amusements Inc. are so entrenched in a power struggle that they can’t even agree on the outcome of a board vote.

On Thursday, CBS CBS, -4.12% said its board voted to strip National Amusements President Shari Redstone and her family of their voting control over the media company. CBS said the 11 of the 14 board members not affiliated with National Amusements supported the proposal.

But that tally fell short of the threshold the Redstones believe is required for approval after they moved to amend the company’s rules on Wednesday.

The boardroom drama sets the stage for what could become a prolonged legal battle over governance of the media giant.

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