A PYMNTS Company

US: Viacom board meets to explore CBS deal

By  |  February 1, 2018

CBS Corp’s board is set to discuss a merger with Viacom this week sources have told Reuters, possibly starting the process of reuniting the two media companies split by mogul Sumner Redstone more than a decade ago.

Such a deal, which is being pushed by Sumner Redstone’s daughter Shari Redstone, would combine the CBS broadcast network with Viacom’s Nickelodeon and MTV networks and Paramount film studio.

That could help CBS’ streaming service compete with Netflix and boost the combined company’s leverage with cable and satellite distributors.

The regularly scheduled board meeting in Los Angeles could result in CBS setting up a special committee to consider a merger with Viacom, but also may end up with no firm decision, according to the sources, who asked for anonymity because they are not authorized to speak to the media.

Viacom’s board is already discussing setting up a similar committee, sources told Reuters on Thursday.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.