HEAVY TALK OF A VIACOM-CBS MERGER – FBNVW Staff
FOX Business Network’s (FBN) Charlie Gasparino reports that Shari Redstone has been “looking, talking, and planning” a possible merge of Viacom and CBS. Gasparino went on to say Redstone would like the CEO of CBS Les Moonves to run the company, however, as of now, Moonves is “not against the merger, but he’s not necessarily for it.”
Excerpts from the report are below
On the possible merging of Viacom and CBS:
“From sources close to the company’s board, we know Shari Redstone is looking, clearly prodding, talking, and planning, a possible reuniting of Viacom and CBS, bringing them together all under one roof. She would like one guy to run it, even though Tom Dooley is now running Viacom, she want’s Les Moonves to run the company. But here’s one thing we keep hearing from the company insiders, that Les Moonves, at least as of now, is not against the merger, but he’s not necessarily for. He’s worried about the evaluation of merging. Essentially CBS would be buying because CBS has a slightly higher market-cap… Viacom is settled with not so many good properties and that’s what has Redstone worried about this potential merger… From what I understand, Shari Redstone wants a merger, she’s made it very clear to Moonves. It is Moonves who is not on board yet. A lot of analysts say forget about Viacom, Moonves would like to merge with Time Warner. If they don’t do this deal a lot of people are convinced that Shari Redstone will do some deal with Time Warner which puts together an interesting combination.