May 16, 2018 / 1:25 PM / 2 months ago

Redstone family says special CBS dividend would be invalid

May 16 (Reuters) - National Amusements Inc, the movie theater company owned by the Redstone family that controls CBS Corp and Viacom Inc, said in a court filing on Wednesday that a proposed CBS dividend diluting its voting power would be invalid.

CBS said on Monday that a special committee of its board directors was planning to issue a special dividend in the form of stock that would reduce National Amusements’ voting control over the company from 80 percent to 17 percent.

Reporting by Jessica Toonkel and Greg Roumeliotis in New York Editing by Jeffrey Benkoe

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