Viacom-CBS Parent Company to Call for Merger (Report)
Viacom and CBS’ controlling shareholder, National Amusements, Inc., is going to call on the two companies to explore re-merging, per a media report.
National Amusements Inc (NAI), the controlling shareholder of CBS Corp (CBS.N) and Viacom Inc (VIAB.O), is preparing to call on the two media companies to explore a merger, two people familiar with the matter said on Wednesday.
NAI may contact the two companies as early as this week to ask them to form independent board committees to explore a combination, one of the people said.
Viacom declined comment, while all CBS had to say was this: “As we’ve said before, the CBS Corporation will always act in the best interest of all of its shareholders.”
Several media analysts believe that a rejoining of Viacom and CBS is the only way to save the fledging former of the two publicly traded companies.
With the recent departure of Viacom interim CEO Tom Dooley, the MTV/Comedy Central/Nickelodeon owner could use some strong leadership.