Shari Redstone, Viacom Sue Insurers Over Merger Suit’s Coverage

Shari Redstone, chairwoman of CBS Corp. parent Paramount Global, sued a group of insurers for refusing to cover the entertainment giant’s legal bills in its court battle with investors challenging the TV network’s 2019 merger with Viacom Inc.

Redstone, along with Viacom and National Amusements -- her family’s holding company -- sued more than 15 insurers Friday in state court in Delaware seeking to force them to honor policies she says cover legal costs for her and other directors named in the shareholders’ lawsuits.

Representatives of AIG Inc.’s National Unit Fire Insurance Co. of Pittsburgh unit, ...