There has been on-going conversation between CEOs of two companies – CBS and Viacom. The conversation has centered around merging the two companies and their respective boards to discuss a potential combination. This will be further discussed in upcoming scheduled meetings.
Both organizations are managed by the family of Summer Redstone. Daughter of Redstone, Shari, had asked both the organizations to go for a merger last year, but the deal did not work out. Sources have indicated that the discussion between the two CEO’s about the merger could be the first step towards joining the two companies.
Les Moonves from CBS had previously stated that CBS did not want to be bigger and that he was not in favor of this deal. However, the discussion that was initiated earlier this year could be an indication that Moonves is open to the idea of a merger.
Sources have indicated that the discussion is at a very initial stage, and there have been no concrete decisions taken about the deal. The two companies will conduct separate board meetings in the forthcoming weeks, and the point regarding the merger will be discussed in these board meetings.