This has been what I've been waiting for; the focus to shift out of Texas and back to Black Rock about this phone call, and potentially other phone calls. This becomes CYA time; people at CBS will start leaking like the titanic to ensure that they aren't stuck to this tar baby.
I wonder if this was discussed Tuesday, before the second 60 Minutes Wednesday broadcast, when Sumner Redstone did this...
14-Sep-04 REDSTONE, SUMNER M.
Chairman 341,500 Option Exercise at $15.25 per share. $5,207,875
14-Sep-04 REDSTONE, SUMNER M.
Chairman 341,500 Sale at $35 per share. $11,952,500
Hmmm.. I wonder if the SEC and the FBI are going to look into this transaction..
Wow. Did you unearth that, or has media already reported it? If not previously reported, I'm calling friends in media in DC with story, credting you and FR if ok w/you.
Does the name Martha Stewart ring a bell?
Go to Yahoo! Finance
This was a registered Rule 144 transaction. It is not likely there were any shenanigans - especially since it was only $11,952,500 (341,500 shares). The $5,207,875 was the cost of exercising the options - the amount Redstone PAID to exercise the options to buy the stock he sold.
Now if he had sold 11,952,500 SHARES throught shell corporations on the open market, that would be a different story.
14-Sep-04 REDSTONE, SUMNER M.
Chairman 341,500 Option Exercise at $15.25 per share. $5,207,875
14-Sep-04 REDSTONE, SUMNER M.
Chairman 341,500 Sale at $35 per share. $11,952,500
If that's true...he may be joining Martha Stewart.