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HomeAll newsMost read newsBusiness Leaders Biography
Birthday : 05/27/1923
Place of birth : Boston (Massachusetts) - United States
Linked companies : CBS Corporation - Viacom, Inc.
Biography : Sumner Murray Redstone is a businessperson who founded CBS Corp. and Viacom, Inc. and who has been a

Viacom, CBS not in active merger discussions: sources

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01/13/2018 | 12:03am CEST
FILE PHOTO - The CBS

(Reuters) - Viacom Inc (>> Viacom) and CBS Corp (>> CBS Corporation) are not in active merger discussions, although controlling shareholder Shari Redstone has had exploratory conversations with CBS directors about recombining the companies, two sources familiar with the situation told Reuters on Friday.

(Reuters) - Viacom Inc (>> Viacom) and CBS Corp (>> CBS Corporation) are not in active merger discussions, although controlling shareholder Shari Redstone has had exploratory conversations with CBS directors about recombining the companies, two sources familiar with the situation told Reuters on Friday.

CBS and Viacom are both controlled by ailing Sumner Redstone, 94, and his daughter Shari, through their privately owned movie theater company, National Amusements Inc.

Sumner Redstone split Viacom and CBS into separate companies a decade ago. He and his daughter attempted to merge the two in 2016, but the effort failed.

National Amusements, CBS and Viacom declined to comment.

Entertainment and media news website The Wrap on Friday reported that Shari Redstone was seeking to merge Viacom and CBS, sending Viacom shares up as much as 15 percent, to $35.55.

Viacom shares fell, but were still trading up 7 percent in after hours trading following reports that a merger was not being pursued.

(Reporting by Jessica Toonkel)

By Jessica Toonkel

Stocks treated in this article : CBS Corporation, Viacom
Stocks mentioned in the article
ChangeLast1st jan.
VIACOM 1.70% 32.37 Delayed Quote.5.06%
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