CBS said to plan first proposal for Viacom deal within days
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CBS Corp. is preparing to make an initial merger proposal to Viacom within days, people with knowledge of the matter said, setting the stage for negotiations that could bring the media companies back together 12 years after they were split up.
The proposal, from CBS’ independent board committee to its counterpart at Viacom, is likely to include an opening suggestion on valuation as well as leadership plans for the combined entity, said the people, who asked not to be identified as the discussions are private. The timing of the proposal is fluid and details won’t be released publicly, they said.
While the two sides hope to announce an agreement before they each report quarterly financial results in May, discussions are ongoing and there’s no guarantee a deal will be reached, the people said.
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