AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2CBS’s shareholders easily elected a slate of 12 directors, approved three measures related to compensation of management and directors and confirmed the appointment of PricewaterhouseCoopers LLP as its independent auditor. The outcome of the votes was not in doubt because Redstone controls 73 percent of the shareholder vote through a special class of shares held by a private entity he controls. The company’s widely held Class B shares are not entitled to vote. NEW YORK – Leslie Moonves, the CEO of CBS Corp., told shareholders Thursday that he expected to see “significant upside” in profit at CBS’s news division from the appointment of Katie Couric as its new anchor in the fall. Moonves was addressing CBS Corp.’s first annual shareholders’ meeting as a stand-alone company following its separation from Viacom Inc. at the beginning of the year. Viacom held its own shareholders’ meeting the day before; both companies are still controlled by Sumner Redstone, the founder of Viacom, through a special class of stock. Several people stood on the street outside the shareholders’ meeting in midtown Manhattan handing out leaflets criticizing CBS’ management of its news business. The leaflets, prepared by the Writers Guild of America, which represents news employees, said CBS was compromising news quality with cutbacks. At the meeting, Moonves also announced that CBS was raising its quarterly dividend from 16 cents per share to 18 cents per share, the second time the company has raised its dividend. CBS’s nonvoting Class B shares traded up 50 cents or 2 percent at $25.90 on the New York Stock Exchange Thursday afternoon. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
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