CBS Adds Richard Parsons to Board While Weighing Viacom Merger

(Bloomberg) -- Richard Parsons, former chief executive officer of Time Warner Inc., will join the board of CBS Corp. as the media company pursues a merger with Viacom Inc.

Parsons, 70, is the sole new nominee to the board, according to a CBS regulatory filing Friday. The company plans to hold its annual meeting May 18 in New York.

The former Time Warner CEO becomes the third new CBS director in the past year. His nomination coincides with a push by controlling shareholder Shari Redstone to recombine the company with Viacom. Martha Minow, who ran Harvard Law School when Redstone’s father Sumner donated $10 million, came aboard last May, while Robert Klieger, an attorney for the Redstone family, joined CBS in July.

Separately CBS said CEO Leslie Moonves received total compensation of $69.6 million in 2017, little changed from a year earlier.

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