[sitetest]

Dear Steven W.,

I'd been under the impression that once they file with the SEC to sell, they pretty much have to sell.

Also, these shares represent less than four tenths of one percent of Mr. Redstone's holdings in this class alone.

I'm unconvinced this represents a reaction to current events, rather than a timed sale of some shares to gain a bit of pocket change.

I do think, though, that Viacom is likely to face class action lawsuits from shareholders contending harm done to the company due to the criminal/civilly-liable activities of key employees (President of CBS News Andrew Heyward and Chief Lunatic Blather), and the failure of senior management to act to protect the company from harm from their illegal/actionable activities.


sitetest

[Steven W.]

once they file with the SEC to sell, they pretty much have to sell.

I believe you're confusing the the filing of a preliminary notice of intent, which has no such obligations or timing, with the actual sale (which this is / was). To the contrary, when certain (reporting) periods or other events arise, outside the general window of availability, they are typically precluded from the actual selling.

[meyer]

Also, these shares represent less than four tenths of one percent of Mr. Redstone's holdings in this class alone.

If that's the case, then this really isn't a big deal. I guess what seems like a boatload of wealth to me might be a drop in the bucket for the elites of the MSM.