Redstones Said to Be Planning to Ask Viacom and CBS to Consider Merger
Posted in: Uncategorized
Viacom Inc. and CBS Corp. will be asked by their controlling shareholder, the Redstone family, to explore a merger, according to a person familiar with the matter.
National Amusements Inc., the Redstones’ holding company, is expected to send letters to both media giants as soon as this week to request their boards establish independent committees to consider a combination, said the person, who asked not to be identified discussing private information.
Shari Redstone, who has taken an active role in oversight of both companies with her 93-year-old father Sumner in frail health, has been considering a merger of CBS and Viacom to create a more powerful media empire, Bloomberg reported last month. But CBS shareholders may blanch at the idea of taking on Viacom’s struggling cable networks and movie studio.
Post a Comment