DOCSLIB.ORG

Corporate Governance Case Studies Volume Six

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Corporate Governance Case Studies Volume Six Cover Corporate Governance Case Studies Volume six Mak Yuen Teen, PhD, FCPA (Aust.) Editor First published October 2017 Copyright ©2016 Mak Yuen Teen and CPA Australia All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, except for inclusion of brief quotations in a review. The views expressed in this publication are those of the authors and do not necessarily represent the views of, and should not be attributed to, CPA Australia Ltd. Please contact CPA Australia or Professor Mak Yuen Teen for permission of use of any case studies in this publication. Corporate Governance Case Studies Volume Six Editor : Mak Yuen Teen, PhD, FCPA (Aust.) Editor’s email : [email protected] Published by : CPA Australia Ltd 1 Raffles Place #31-01 One Raffles Place Singapore 048616 Website : cpaaustralia.com.au Email : [email protected] ISBN : 978-981-11-0728-3 II Contents Foreword Preface Singapore Cases BROOKE ASIA: A SHORT CUT TO CONTROVERSY .................................................... 1 CELESTIAL FOODS: FROM HEAVEN TO HELL .......................................................... 14 MMP RESOURCES: HEADING TOWARDS A DEAD END? ......................................... 29 NATURAL COOL FACES HEAT................................................................................... 45 OSIM’S BUNGLED PRIVATISATION OFFER ............................................................... 58 SBI OFFSHORE: WASHED ASHORE ......................................................................... 71 THE FLIGHT TOWARDS PRIVATISATION: TIGER AIRWAYS ....................................... 83 SWIBER: THE SHIP HAS SAILED ............................................................................... 96 Asia-Pacific Cases BLACKROCK VS G-RESOURCES: ACTIVE TO ACTIVISM ....................................... 111 CENTRAL BANK OF BANGLADESH: THE BIGGEST CYBER HEIST IN ASIA ........... 126 CP ALL: A CASE OF INSIDER TRADING .................................................................. 138 SUCCESSION WARS: EVERGREEN GROUP ........................................................... 150 HANJIN SHIPPING: THE TITANIC OF KOREA .......................................................... 158 MEGA BANK, MEGA FAILURE? .............................................................................. 171 SAMSUNG BLEW IT ................................................................................................ 185 TATA SONS: UNRAVELLING THE MISTRY ............................................................... 201 III Global Cases THE COLLAPSE OF BRITISH HOME STORES ......................................................... 216 SNAP OUT OF IT! ..................................................................................................... 232 SAVING BIG (STAR)BUCKS ...................................................................................... 244 A VERY BLACK FRIDAY: TARGET’S CYBER SECURITY BREACH ........................... 258 THERANOS: THE UNICORN THAT LOST ITS HORN ................................................ 271 THE VIACOM BLOCKBUSTER ................................................................................. 285 WELLS FARGO: FORGONE REPUTATION? ............................................................. 303 IV Foreword V Preface About 15 years ago, when I founded the corporate governance centre at the NUS Business School, a well-known company director asked me why. Singapore had just released her first code of corporate governance not too long ago and as far as he was concerned, corporate governance will go the same way as some management fads. I thought the journey had only just started. Since then, interest in corporate governance has not waned at all. In fact, it has grown. Today, corporate governance is not only discussed in the context of listed companies, but also unlisted companies, charities, statutory boards, town councils, sports bodies, and other organisations. Similarly, interest in this annual collection of corporate governance cases, now into its sixth year, has continued to grow. More universities, professional bodies and other organisations involved in corporate governance education here and around the world are using the cases. Selected cases from volumes 1 and 2 have been translated into Chinese for the Hong Kong, People’s Republic of China and Taiwan markets. Volume 1 has been translated into Vietnamese, through a collaboration with the stock exchanges in Vietnam, for their listed companies. Some of the cases in this latest volume cover emerging themes such as cybersecurity and corporate culture, and for the first time, we have cases from Bangladesh, Taiwan and Thailand. There are 23 cases in total, eight of which are Singapore cases involving Brooke Asia, Celestial Foods, MMP Resources, Natural Cool Holdings, OSIM, SBI Offshore, Swiber Holdings and Tiger Airways. Some deal with corporate governance issues in situations such as a reverse takeover, privatization and insolvency. There is a mix of domestic and foreign listings. VI There are also eight Asia Pacific cases, including the Central Bank of Bangladesh case, G-Resources in Hong Kong, Tata Group in India, Hanjin Shipping and Samsung Electronics in South Korea, Evergreen Group and Mega Bank in Taiwan, and CP ALL in Thailand. The Central Bank of Bangladesh cybersecurity breach is considered the largest financial cybercrime in Asia. The G-Resources case deals with a rare display of public activism in Asia by Blackrock, the largest investor in the world. It is the first case which includes inputs from interviews with a central figure in the case. A number of cases deal with corporate governance in large listed family-controlled companies and groups, while the Mega Bank case is about a major money laundering scandal involving a bank with strong government links. The remaining seven cases are global cases involving companies outside of Asia-Pacific. Companies covered include BHS, Snap Inc., Starbucks, Target, Theranos, Viacom and Wells Fargo. Three of these cases – Snap Inc., Theranos and Viacom – concern companies having shares with different voting rights and allow discussions of the pros and cons of such share structures that some Asian stock exchanges are considering allowing. The Starbucks case involves a company which is widely admired for its ethics accused of reducing its tax through questionable means. BHS looks at corporate governance of a large unlisted UK company, whose collapse has raised issues about whether corporate governance rules applicable to listed companies should also apply to unlisted companies. The Wells Fargo case has the issue of corporate culture at its core. I would like to thank the students who wrote the original cases, the students who assisted in editing them, and particularly Isabella Ow, who did a great job as my editorial assistant. This initiative would not have been possible without the excellent support from CPA Australia and its team here in Singapore. In particular, I would also like to thank Joanna Chek for her excellent work on this volume, Sheryl Koh who had been consistently excellent over the first five volumes, and Melvin Yong for being a strong champion of this publication. Associate Professor Mak Yuen Teen Department of Accounting NUS Business School VII BROOKE ASIA: A SHORT CUT TO CONTROVERSY Case overview Between 2014 and 2015, Brooke Asia Limited (Brooke Asia) carried out a reverse takeover (RTO) with China Star Food Holdings involving a consideration of S$168 million through the issuance of 840 million new shares. The RTO came as a saving grace for Brooke Asia, which was facing an imminent delisting as it no longer met the Singapore Catalist Board listing requirements. The RTO was completed on 23 September, 2015. The sponsor of the RTO, PrimePartners Corporate Finance (PrimePartners), received partial payment in the form of 3.5 million shares, which accounted for 0.68% of China Star Food Group’s total holding. The objective of this case is to allow a discussion of issues such as the bundling of resolutions; roles and responsibilities of sponsors in listed companies; the impact of a RTO on various relevant stakeholders; design of remuneration schemes; and corporate governance issues relating to the board of directors and ownership structure. The rising star China Star Food Group Limited (CSFG), a Singapore-based company, was previously known as Brooke Asia prior to Brooke Asia’s RTO of China Star Food Holdings Group (CSFH) and CSFH’s subsidiaries. CSFG is primarily engaged in the manufacture of healthy snack foods in China. The Group’s main business is the production and sale of sweet potato snack food products.1 This is the abridged version of a case prepared by Ng Gau Wei, Gary Chia Zong Zhe, Soh Chi Loong Calvin, Rochelle Wong Xi Wen and Ng Jun Ting Shirley under the supervision of Professor Mak Yuen Teen. The case was developed from published sources solely for class discussion and is not intended to serve as illustrations of effective or ineffective management or governance. The interpretations and perspectives in this case are not necessarily those of the organisations named in the case, or any of their directors or employees. This abridged version was edited by Tan Zhe Ren under the supervision of Professor Mak Yuen Teen. Copyright © 2017 Mak Yuen Teen and CPA Australia. 1 Brooke Asia: A Short Cut To Controversy
Load more

Recommended publications
  • The Global Risks Report 2017 12Th Edition
    Insight Report The Global Risks Report 2017 12th Edition Strategic Partner of the Report The Global Risks Report 2017 12th Edition Strategic Partners Marsh & McLennan Companies Zurich Insurance Group Academic Advisers National University of Singapore Oxford Martin School, University of Oxford Wharton Risk Management and Decision Processes Center, University of Pennsylvania Contents 4 Preface By Klaus Schwab 5 Foreword 6 Executive Summary 8 Introduction 10 Part 1: Global Risks 2017 – Economy: Growth and Reform – Society: Rebuilding Communities – Technology: Managing Disruption – Geopolitics: Strengthening Cooperation – Environment: Accelerating Action 22 Part 2: Social and Political Challenges 23 2.1 Western Democracy in Crisis? 29 2.2 Fraying Rule of Law and Declining Civic Freedoms: Citizens and Civic Space at Risk 35 2.3 The Future of Social Protection Systems 42 Part 3: Emerging Technologies 43 3.1 Understanding the Technology Risk Landscape 48 3.2 Assessing the Risk of Artificial Intelligence 53 3.3 Physical Infrastructure Networks and the Fourth Industrial Revolution 58 Conclusion 60 Appendices Appendix A: Description of Global Risks, Trends and Emerging Technologies 2017 Appendix B: Global Risks Perception Survey 2016 and Methodology 68 Acknowledgements In addition to these gravity centres, this year’s Global Risks Report presents Preface deep-dive discussions of risks posed by ongoing political and societal transformations, including challenges to democracy, closing space for civil society, and outmoded social protection systems. It also discusses risks related to emerging technologies of the Fourth Industrial Revolution and the associated governance challenges. As in previous years, the analysis contained in this Report builds on the annual Global Risks Perception Survey, completed by almost 750 members of the World Economic Forum’s global multistakeholder community.
    [Show full text]
  • In Re Viacom Inc Stockholders Litigation
    IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN RE VIACOM INC. ) CONSOLIDATED STOCKHOLDERS LITIGATION ) C.A. No. 2019-0948-JRS MEMORANDUM OPINION Date Submitted: September 15, 2020 Date Decided: December 29, 2020 Corrected: December 30, 2020 Gregory V. Varallo, Esquire of Bernstein Litowitz Berger & Grossmann LLP, Wilmington, Delaware; Jeroen van Kwawegen, Esquire, Edward G. Timlin, Esquire, Andrew E. Blumberg, Esquire and Daniel E. Meyer, Esquire of Bernstein Litowitz Berger & Grossmann LLP, New York, New York, Attorneys for Lead Plaintiff California Public Employees’ Retirement System. Chad Johnson, Esquire, Noam Mandel, Esquire and Desiree Cummings, Esquire of Robbins Geller Rudman & Dowd LLP, New York, New York; Christopher H. Lyons, Esquire of Robbins Geller Rudman & Dowd LLP, Nashville, Tennessee, Attorneys for Additional Plaintiff Park Employees’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago. Francis A. Bottini, Jr., Esquire and Anne B. Beste, Esquire of Bottini & Bottini, Inc., La Jolla, California, Attorneys for Additional Plaintiff Louis M. Wilen. Matthew E. Fischer, Esquire, Michael A. Pittenger, Esquire, Christopher N. Kelly, Esquire, J. Matthew Belger, Esquire, Jacqueline A. Rogers, Esquire and Callan R. Jackson, Esquire of Potter Anderson & Corroon LLP, Wilmington, Delaware and Victor L. Hou, Esquire, Rahul Mukhi, Esquire and Mark E. McDonald, Esquire of Cleary Gottlieb Steen & Hamilton LLP, New York, New York, Attorneys for Defendants National Amusements, Inc., NAI Entertainment Holdings LLC, and Shari E. Redstone. Gregory P. Williams, Esquire, Blake Rohrbacher, Esquire and Kevin M. Regan, Esquire of Richards, Layton & Finger, P.A., Wilmington, Delaware and Robert H. Baron, Esquire, Gary A. Bornstein, Esquire and Rory A.
    [Show full text]
  • THE 53Rd INTERNATIONAL CONFERENCE on ELECTRON, ION, and PHOTON BEAM TECHNOLOGY & NANOFABRICATION
    THE 53rd INTERNATIONAL CONFERENCE on ELECTRON, ION, and PHOTON BEAM TECHNOLOGY & NANOFABRICATION Marco Island Marriott Resort, Golf Club and Spa Marco Island, Florida May 26 – May 29, 2009 Co-sponsored by: The American Vacuum Society in cooperation with: The Electron Devices Society of the Institute of Electrical and Electronic Engineers and The Optical Society of America Conference at a Glance Conference at a Glance CONFERENCE ORGANIZATION CONFERENCE CHAIR Stephen Chou, Princeton University PROGRAM CHAIR Elizabeth Dobisz, Hitachi Global Storage Technologies MEETING PLANNER Melissa Widerkehr, Widerkehr and Associates STEERING COMMITTEE R. Blakie, University of Canterbury A. Brodie, KLA-Tencor S. Brueck, University of New Mexico S. Chou, Princeton University E. Dobisz, Hitachi Global Storage Technologies M. Feldman, Louisiana State University C. Hanson, SPAWAR J.A. Liddle, NIST F. Schellenberg, Mentor Graphics G. Wallraff, IBM ADVISORY COMMITTEE Ilesanmi Adesida, Robert Bakish, Alec N. Broers, John H. Bruning, Franco Cerrina, Harold Craighead, K. Cummings, N. Economou, D. Ehrlich, R. Englestad, T. Everhart, M. Gesley, T. Groves, L. Harriott, M. Hatzakis, F. Hohn, R. Howard, E. Hu, J. Kelly, D. Kern, R. Kubena, R. Kunz, N. MacDonald, C. Marrian, S. Matsui, M. McCord, D. Meisburger, J. Melngailis, A. Neureuther, T. Novembre, J. Orloff, G. Owen, S. Pang, R.F. Pease, M. Peckerar, H. Pfeifer, J. Randall, D. Resnick, M. Schattenburg, H. Smith, L. Swanson, D. Tennant*, L. Thompson, G. Varnell, R. Viswanathan, A. Wagner, J. Wiesner, C. Wilkinson, A. Wilson, Shalom Wind, E. Wolfe *Financial Trustee COMMERCIAL SESSION Alan Brodie, KLA Tencor Rob Illic, Cornell University Reginald Farrow, New Jersey Institute of Technology Brian Whitehead, Raith PROGRAM COMMITTEE & SECTION HEADS Lithography E- Beam Optical Lithography A.
    [Show full text]
  • Global Digital Cultures: Perspectives from South Asia
    Revised Pages Global Digital Cultures Revised Pages Revised Pages Global Digital Cultures Perspectives from South Asia ASWIN PUNATHAMBEKAR AND SRIRAM MOHAN, EDITORS UNIVERSITY OF MICHIGAN PRESS • ANN ARBOR Revised Pages Copyright © 2019 by Aswin Punathambekar and Sriram Mohan All rights reserved This book may not be reproduced, in whole or in part, including illustrations, in any form (beyond that copying permitted by Sections 107 and 108 of the U.S. Copyright Law and except by reviewers for the public press), without written permission from the publisher. Published in the United States of America by the University of Michigan Press Manufactured in the United States of America Printed on acid- free paper First published June 2019 A CIP catalog record for this book is available from the British Library. Library of Congress Cataloging- in- Publication data has been applied for. ISBN: 978- 0- 472- 13140- 2 (Hardcover : alk paper) ISBN: 978- 0- 472- 12531- 9 (ebook) Revised Pages Acknowledgments The idea for this book emerged from conversations that took place among some of the authors at a conference on “Digital South Asia” at the Univer- sity of Michigan’s Center for South Asian Studies. At the conference, there was a collective recognition of the unfolding impact of digitalization on various aspects of social, cultural, and political life in South Asia. We had a keen sense of how much things had changed in the South Asian mediascape since the introduction of cable and satellite television in the late 1980s and early 1990s. We were also aware of the growing interest in media studies within South Asian studies, and hoped that the conference would resonate with scholars from various disciplines across the humanities and social sci- ences.
    [Show full text]
  • New Solar Research Yukon's CKRW Is 50 Uganda
    December 2019 Volume 65 No. 7 . New solar research . Yukon’s CKRW is 50 . Uganda: African monitor . Cape Greco goes silent . Radio art sells for $52m . Overseas Russian radio . Oban, Sheigra DXpeditions Hon. President* Bernard Brown, 130 Ashland Road West, Sutton-in-Ashfield, Notts. NG17 2HS Secretary* Herman Boel, Papeveld 3, B-9320 Erembodegem (Aalst), Vlaanderen (Belgium) +32-476-524258 [email protected] Treasurer* Martin Hall, Glackin, 199 Clashmore, Lochinver, Lairg, Sutherland IV27 4JQ 01571-855360 [email protected] MWN General Steve Whitt, Landsvale, High Catton, Yorkshire YO41 1EH Editor* 01759-373704 [email protected] (editorial & stop press news) Membership Paul Crankshaw, 3 North Neuk, Troon, Ayrshire KA10 6TT Secretary 01292-316008 [email protected] (all changes of name or address) MWN Despatch Peter Wells, 9 Hadlow Way, Lancing, Sussex BN15 9DE 01903 851517 [email protected] (printing/ despatch enquiries) Publisher VACANCY [email protected] (all orders for club publications & CDs) MWN Contributing Editors (* = MWC Officer; all addresses are UK unless indicated) DX Loggings Martin Hall, Glackin, 199 Clashmore, Lochinver, Lairg, Sutherland IV27 4JQ 01571-855360 [email protected] Mailbag Herman Boel, Papeveld 3, B-9320 Erembodegem (Aalst), Vlaanderen (Belgium) +32-476-524258 [email protected] Home Front John Williams, 100 Gravel Lane, Hemel Hempstead, Herts HP1 1SB 01442-408567 [email protected] Eurolog John Williams, 100 Gravel Lane, Hemel Hempstead, Herts HP1 1SB World News Ton Timmerman, H. Heijermanspln 10, 2024 JJ Haarlem, The Netherlands [email protected] Beacons/Utility Desk VACANCY [email protected] Central American Tore Larsson, Frejagatan 14A, SE-521 43 Falköping, Sweden Desk +-46-515-13702 fax: 00-46-515-723519 [email protected] S.
    [Show full text]
  • In the Court of Chancery of the State of Delaware in Re
    EFiled: Mar 04 2020 04:02PM EST Transaction ID 64789431 Case No. 2019-0948-JRS IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE CONSOLIDATED IN RE VIACOM INC. STOCKHOLDERS C.A. No. 2019-0948-JRS LITIGATION PUBLIC VERSION AS FILED MARCH 4, 2020 FIRST AMENDED VERIFIED CLASS ACTION COMPLAINT Plaintiff California Public Employees’ Retirement System (“CalPERS”), Park Employees’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (“Chicago Park”), and Louis M. Wilen (together with CalPERS and Chicago Park, “Plaintiffs”) submit this First Amended Verified Class Action Complaint directly on behalf of itself and all other similarly situated public stockholders of Viacom, Incorporated (“Viacom” or the “Company”), against the defendants named herein for breaches of fiduciary duty in their capacity as directors, officers, and/or controlling stockholders of the Company. The allegations in this Complaint are made upon Plaintiffs’ knowledge as to themselves, and, as to all other matters, upon information and belief, including the investigation of undersigned counsel of publicly available information and extensive books and records produced by the Company.1 1 Pursuant to the applicable confidentiality agreement, the Company is only entitled to general incorporation of documents produced in response to the Section 220 Demand if it provides specific certification as to the completeness of the production within the scope negotiated amongst the parties. Despite several requests to the Company for certification of completion, the Company has not so certified. THIS DOCUMENT IS A CONFIDENTIAL FILING. ACCESS IS PROHIBITED EXCEPT AS AUTHORIZED BY COURT ORDER. NATURE AND SUMMARY OF THE ACTION “A Reunited CBS and Viacom Will Mark the End of a Four-Year Battle for Shari Redstone.” Variety, August 13, 2019.
    [Show full text]
  • IN the COURT of CHANCERY of the STATE of DELAWARE NATIONAL AMUSEMENTS, INC., ) NAI ENTERTAINMENT HOLDINGS ) LLC, and SHARI REDSTONE, ) ) Plaintiffs, ) C.A
    IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE NATIONAL AMUSEMENTS, INC., ) NAI ENTERTAINMENT HOLDINGS ) LLC, and SHARI REDSTONE, ) ) Plaintiffs, ) C.A. No. _______ ) v. ) ) LESLIE “LES” MOONVES, CBS ) CORPORATION, GARY L. ) COUNTRYMAN, CHARLES K. ) GIFFORD, BRUCE S. GORDON, ) LINDA M. GRIEGO, MARTHA L. ) MINOW, JOSEPH A. CALIFANO, ) JR., WILLIAM S. COHEN, ) LEONARD GOLDBERG, ARNOLD ) KOPELSON, and DOUG MORRIS, ) ) Defendants. ) VERIFIED COMPLAINT Plaintiffs National Amusements, Inc. (“National Amusements”), NAI Entertainment Holdings LLC (“Holdings,” and together with National Amusements, “NAI”), and Shari Redstone (collectively, with NAI, “Plaintiffs”), by and through their undersigned counsel, upon knowledge as to themselves and otherwise upon information and belief, allege for their Verified Complaint herein as follows: NATURE OF THE ACTION 1. This case is about extraordinary, unjustified and unlawful actions by certain of the Directors (the “Director Defendants”) of CBS Corporation (“CBS” or the “Company,” and together with the Director Defendants, “Defendants”) to unilaterally dilute the voting rights of its controlling stockholder, NAI, for all purposes and for all time. It is undisputed that the Director Defendants’ actions are unprecedented under Delaware law. 2. The dilutive dividend—which the Director Defendants approved following a hastily called and perfunctory special meeting (“Special Meeting”) of the CBS Board (“Board”) on May 17, 2018, and on a “conditional” basis pending Delaware court review—is invalid for at least four reasons: (i) it was declared in violation of the Company’s bylaws; (ii) it was based on the recommendation of a special committee, comprised of five Director Defendants (“Special Committee”), acting far beyond its authority; (iii) it violates the Company’s charter; and (iv) the Director Defendants’ purported dilution of CBS’s voting stockholders violates the directors’ fiduciary duties in numerous ways.
    [Show full text]
  • © 2021 Thomson Reuters. No Claim to Original U.S. Government Works. 1 in Re CBS Corporation Stockholder Class Action And..., Not Reported in Atl
    In re CBS Corporation Stockholder Class Action and..., Not Reported in Atl.... Esquire, Bruce Birenboim, Esquire, Jaren Janghorbani, Esquire and Alexia D. Korberg, Esquire of Paul, Weiss, 2021 WL 268779 Rifkind, Wharton & Garrison LLP, New York, New York, Only the Westlaw citation is currently available. Attorneys for Defendants Candace K. Beinecke, Barbara UNPUBLISHED OPINION. CHECK M. Byrne, Gary L. Countryman, Brian Goldner, Linda M. COURT RULES BEFORE CITING. Griego, Martha L. Minow, Susan Schuman, Frederick O. Terrell and Strauss Zelnick. Court of Chancery of Delaware. Robert A. Penza, Esquire and Christina B. Vavala, Esquire of IN RE CBS CORPORATION STOCKHOLDER Polsinelli PC, Wilmington, Delaware and Kevin T. Abikoff, CLASS ACTION AND DERIVATIVE LITIGATION Esquire, Benjamin Britz, Esquire, Stephen R. Halpin III, Esquire and Robby S. Naoufal, Esquire of Hughes Hubbard & CONSOLIDATED C.A. No. 2020-0111-JRS Reed LLP, Washington, DC, Attorneys for Defendant Joseph | Ianniello. Date Submitted: September 17, 2020 | Elena C. Norman, Esquire and Daniel M. Kirshenbaum, Date Decided: January 27, 2021 Esquire of Young Conaway Stargatt & Taylor, LLP, | Wilmington, Delaware and Jonathan K. Youngwood, Esquire, Corrected: February 4, 2021 Linton Mann III, Esquire and Sarah L. Eichenberger, Esquire of Simpson Thacher & Bartlett LLP, New York, New York, Attorneys and Law Firms Attorneys for Nominal Defendant ViacomCBS Inc. Michael Hanrahan, Esquire, Corinne Elise Amato, Esquire, Eric J. Juray, Esquire and Xi (Elizabeth) Wang, Esquire of Prickett, Jones & Elliott, P.A., Wilmington, Delaware; MEMORANDUM OPINION Michael J. Barry, Esquire, Christine M. Mackintosh, Esquire, SLIGHTS, Vice Chancellor John C. Kairis, Esquire and Rebecca A. Musarra, Esquire of Grant & Eisenhofer, P.A., Wilmington, Delaware; and Eric *1 The Beach Boys, in their original form, were L.
    [Show full text]
  • Viacom to Open State of the Art Production Studio in Miami
    Viacom to Open State of the Art Production Studio in Miami Studio Will Serve As Multiplatform Production Hub NEW YORK & MIAMI--(BUSINESS WIRE)-- Viacom Inc. (NASDAQ: VIAB, VIA) announced today that it will open a two-stage, 88,000 square foot, state-of-the-art production facility in Miami, Florida. The new studio, which was built by the Miami Omni Community Redevelopment Agency (CRA) as a public-private partnership with EUE/Screen Gems Studios, will serve as a production hub for Viacom's global entertainment brands including Nickelodeon, MTV and Comedy Central. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20151005006444/en/ "We are creating more content than ever before across all of our brands at Viacom," said Robert Bakish, President and CEO of Viacom International Media Networks (VIMN). "The Viacom International Studio in Miami will offer a turnkey facility where we can create even more original, high quality content to meet the increasing demand for long-and- short-form content on all of our global platforms." "We have had terrific success with the recent live action productions we have coming from Miami, and we are very excited to be committed to doing more," said Cyma Zarghami, President, Viacom Kids and Family Group. "We are constantly looking for new creative ideas and content formats that allow us to tell stories in a completely different way, and this facility will certainly forward that effort." View of the Viacom International Studio in Miami, Florida (Photo: Business Wire) "Viacom has demonstrated again and again that hits come from all over the world," said Pierluigi Gazzolo, President, VIMN Americas and Executive Vice President, Nickelodeon International.
    [Show full text]
  • Financial, Business and General Media Email Distribution
    Financial, Business and General Media Email Distribution Title Title A Connecticut Law Blog IQ (Insider Quarterly) (2) A Dash of Insight IR Magazine (6) A Diary of Injustice in Scotland IR Magazine - London Bureau (2) A Georgia Lawyer IR Magazine - New York Bureau (2) A Passion for Research IR Update a public defender IranContact A Spokesman Said Iravunk A-Team Group - Risk-Technology.net Ireland Business Insider A.M. Best Europe (2) Ireson, Nelson A&B Blawg Briefs iRights.info AAHOA Lodging Business Irish Examiner AAII Journal (2) Irish Examiner - Business Desk AAII Journal Online Irish Examiner - Freelancers AARP Irish Examiner - irishexaminer.com AARP Bulletin Today (3) Irish Examiner - Picture Desk AARP The Magazine (4) Irish Examiner - Property AARP.com Blog Irish Examiner - Sports Desk AARP.org Irish News - Business Desk, The ABA Journal Irish News, The ABA Journal Online Irish Pharmacist ABA Trust Letter Is4profit.com (2) ABA Washington Letter, The Isabel Winklbauer ABA Washington Summary iSave A2Z Abbamonte, Lee ISCOTUS - blogs kentlaw ABC Magazine (Sussex) ISDA (2) ABC News Radio Network ISDA - USA, New York Bureau ABC Television Network (2) Iskra abfjournal (3) Islamic Finance Information Service ABI Journal (2) Islamic Law and Society ABL Advisor (3) Islamic Law In Our Times ABLawg ISO Management Aboriginal Law Blog ISOS About.com (5) israelinfo.co.il Above The Law Issues in Accounting Education Above the Market IST Magazine Absolute Return IStR - Internationales Steuerrecht Absolute UCITS (2) Isurus (2) ACC Docket IT Europa
    [Show full text]
  • 1 PART I Item 1. Business. OVERVIEW Viacom Is Home To
    PART I Item 1. Business. OVERVIEW Viacom is home to premier global media brands that create compelling television programs, motion pictures, short-form content, applications (“apps”), games, consumer products, social media experiences and other entertainment content for audiences in more than 180 countries. We operate through two reporting segments: Media Networks and Filmed Entertainment. References in this document to “Viacom,” “Company,” “we,” “us” and “our” mean Viacom Inc. and our consolidated subsidiaries, unless the context requires otherwise. On September 29, 2016, our Board of Directors (the “Board”) received a letter from National Amusements, Inc. (“National Amusements”) requesting that the Board explore a potential combination of Viacom and CBS Corporation (“CBS”). The letter indicated that National Amusements is not willing to accept or support any acquisition of Viacom by a third party or any transaction that would result in National Amusements surrendering its controlling position in Viacom. National Amusements, directly and through subsidiaries, owns approximately 80% of the voting shares of both Viacom and CBS and approximately 10% of Viacom’s total common stock outstanding. Subsequently, our Board formed a special committee of independent directors to consider the request from National Amusements and any proposed transaction, and the special committee has hired independent legal and financial advisers. On October 31, 2016, we announced the appointment of Robert Bakish as Acting President and Chief Executive Officer, effective November 15, 2016. We also announced that Mr. Bakish was being appointed, effective immediately, to the new role of President and Chief Executive Officer of the recently established Viacom Global Entertainment Group within our Media Networks segment.
    [Show full text]
  • TV Latina Is Sent To
    MEDIA KIT 2020/2O21 WWW.TVLATINA.TVTV ENEROLATINA 2020 EDICIÓN NATPE Panorama de las OTT en Latinoamérica / Robert Bakish de ViacomCBS / Robert Greenblatt de WarnerMedia Entertainment Michael Sheen / Christiane Amanpour / Damian Lewis / Ryan Eggold / James Farrell de Amazon Studios / Benjamín Salinas de TV Azteca Vincent Sadusky de Univision / John Hendricks de CuriosityStream / Fernando Barbosa de Disney / Alexander Marin de SPT Pierluigi Gazzolo de ViacomCBS / Marcos Santana de Telemundo Global Studios Circulation TV Latina is sent to: . Chairmen, presidents, CEOs and general managers . Cable operators, pan-regional media buyers and regional advertising agencies . Directors of programming, planning and co-productions . Program buyers for every program genre in all television stations, cable channels, pay-TV and satellite services, MSOs and OTT platforms in Latin America, the U.S. Hispanic market and Iberia Country Breakdown Mexico: 18% Argentina: 15% Brazil: 13% Chile, Uruguay & Paraguay: 11% U.S. Hispanic: 10% Spain & Portugal: 7% Central America & Caribbean: 6% Colombia: 5% Ecuador, Bolivia & Peru: 5% Venezuela: 4% Others: 6% WWW.TVLATINA.TV ENERO 2020 EDICIÓN NATPE TV SERIES GUÍA 2020 Tendencias de drama en América Latina / Miguel Ángel Silvestre / Jorge Dorado WWW.TVLATINA.TV MAYO 2019 EDICIÓN L.A. SCREENINGS Publications TV NIÑOS TV Latina is a Spanish-language publication covering the Contenido preescolar / Matteo Corradi de Mondo TV Claude de Saint Vincent de Media-Participations programming, OTT, cable and satellite industries
    [Show full text]