CBS and National Amusements are making progress in talks to settle the bitter lawsuit over control of the company that is one half of Sumner Redstone’s media empire.
Discussions have been ongoing for weeks in an effort to head off the start of the trial in Delaware Chancery Court set for Oct. 3. Sources familiar with the situation said the talks between some CBS board members and representatives for NAI picked up steam during Labor Day weekend.
A spokesman for CBS Corp. declined to comment. An NAI rep could not immediately be reached for comment.
The lawsuit filed May 14 by CBS grew out of the conflict between CBS Corp. chairman-CEO Leslie Moonves and NAI president Shari Redstone over the fate of CBS and the proposed merger with Viacom, which NAI also controls.
Deadline was first to report the accelerated settlement talks.