Report: National Amusements To Push For Viacom-CBS Reunification
September 28, 2016 at 10:07 AM (PT)
The WALL STREET JOURNAL is reporting that SUMNER REDSTONE's NATIONAL AMUSEMENTS is preparing to ask the boards of VIACOM and CBS CORPORATION to consider a merger to reunite the companies.
The long-predicted move may come in a letter to be sent to the boards by the end of this week, sources told the JOURNAL. The move comes as VIACOM and CBS Vice Chair SHARI REDSTONE is asserting increased power over her father's holdings; VIACOM and CBS split into two companies in 2006. VIACOM Interim CEO TOM DOOLEY is set to exit in NOVEMBER, and while CBS Chairman/CEO LESLIE MOONVES has been predicted to take the CEO post at a combined VIACOM-CBS, he recently claimed that there were no ongoing talks towards a merger.