Exclusive: Viacom, CBS CEOs have discussed potential merger - sources

Updated: Fri, Jan 26, 2018
02:05 am
Reuters
RELATED NEWS
Oil steady as Saudi Arabia pledges to play 'responsible role' in market Oil steady as Saudi Arabia pledges to play 'responsible role' in market
Asian shares struggle as European woes, Saudi concerns dim mood Asian shares struggle as European woes, Saudi concerns dim mood
Gold nudges up as Asian shares edge lower Gold nudges up as Asian shares edge lower
Arconic weighs $11 billion offer from Apollo - sources Arconic weighs $11 billion offer from Apollo - sources

Viacom Inc Chief Executive Bob Bakish and CBS Corp CEO Leslie Moonves have had an exploratory discussion about merging the two companies, sources familiar with the situation told Reuters on Thursday.

The discussion signifies a potential first step towards a recombination of CBS and Viacom. The boards of both companies have regularly scheduled meetings in the next couple of weeks and are expected to discuss the potential merger, the sources said.

The discussion, which took place earlier this month, were preliminary and no decisions have been made, but they signal that Moonves, who has had reservations about a potential deal between the companies, could be more open to the idea.

The sources wished to remain anonymous because they are not permitted to speak to the media. Viacom and CBS declined to comment. A spokeswoman for Shari Redstone did not immediately return calls.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close