Sumner Redstone: I'll Never Sell CBS, Viacom
May 27, 2010 at 4:32 AM (PT)
SUMNER REDSTONE told the CBS CORPORATION shareholders' meeting WEDNESDAY (5/26) that he will "never, N-E-V-E-R sell VIACOM or CBS," countering a recent report in the NEW YORK POST that CBS may be on the block. REDSTONE, who turns 87 TODAY (5/27), made his assertion in response to a question from an investor about the POST report.
The HOLLYWOOD REPORTER also reports that at the meeting, CBS Pres./CEO LES MOONVES said that while CBS and CNN maintain a good relationship, a deal to combine CBS NEWS and CNN is not happening "right now." Rumors of a deal between CBS and TIME WARNER for some form of combination between the news organizations have been circulating for some time, recently gaining steam with several reports of talks between the parties.
CBS Declares Dividend
CBS CORPORATION also declared a dividend of 5 cents/share on its common stock, payable JULY 1st to shareholders of record on JUNE 10th.