Home brands The CBS-Viacom merger is off, which means CBS could still merge with...

The CBS-Viacom merger is off, which means CBS could still merge with someone else

603
0
SHARE
Photo via Wikimedia Commons

Recode reports: “The owner of CBS and Viacom has called off a merger that would have combined the broadcast network with Nickelodeon, MTV and Paramount film studios. That means CBS can still end up merging with another TV network, or even a tech company. Shari Redstone, who (along with her father Sumner) controls both CBS and Viacom through National Amusements, called off the deal less than three months after formally asking both boards to look at a combination. The thinking here, according to the Redstones: The new CEO of Viacom, Bob Bakish, has done a great job outlining a vision for the ailing company, so there’s no need to tie up with CBS, the more valuable of the two. The more likely reason is that CBS CEO Les Moonves, who was tapped to run the merged company, couldn’t get the terms he was seeking from Shari Redstone.”

Read more