Viacom stops exploring CBS merger, shares plunge
Viacom Inc. said Monday that it has stopped exploring a potential merger with CBS Corp. , after Sumner Redstone's National Amusements Inc. withdrew its support. The media giant said it has dissolved the special committee that it had formed to evaluate a potential merger. Separately, the company named Bab Bakish as its chief executive officer, effective immediately; Bakish was acting CEO since Nov. 15. "I am very excited by the strategy Viacom is pursuing under Bob's leadership, as well as the... Читать дальше...