Bloomberg: Les Moonves Discussed A CBS-Time Warner Merger
March 18, 2015 at 3:56 AM (PT)
Did CBS CEO LES MOONVES sit down with TIME WARNER INC. to discuss the possibility of a merger? Yes, reports BLOOMBERG.COM, writing, "MOONVES and his counterpart at TIME WARNER, JEFF BEWKES, discussed the idea of combining their companies in meetings last year, three people with knowledge of the matter said. BEWKES wasn’t interested, said two of the people, who asked not to be named because the discussions were private."
Numerous reports have speculated about the future of CBS, as MOONVES plans for a future after controlling shareholder SUMNER REDSTONE takes a less active role or passes.
BLOOMBERG notes, "with the REDSTONE era winding down, some investors have called for CBS and VIACOM to reunite. The trustees who will eventually oversee the interests in both companies include PHILIPPE DAUMAN, CEO of VIACOM, and REDSTONE’s daughter, SHARI. She owns 20% of NATIONAL AMUSEMENTS INC., the family company that holds 80% voting stakes in CBS and VIACOM."