The Traderszone Network

Published in TZ Latest News 8 January, 2016 by The TZ Newswire Staff

Exclusive: Viacom to allow vote on expanding shareholder rights

Viacom Inc (VIAB.O) will allow investors to vote in March on a proposal to extend voting rights to all shareholders, though the measure is certain to fail as it is opposed by executive chairman Sumner Redstone’s holding company. Redstone controls about 80 percent of Viacom’s Class A voting shares through his holding company, National Amusements Inc. Most outsiders hold Viacom’s Class B shares, which do not have voting rights.