NEW YORK, Sept. 29, 2016 /PRNewswire/ -- CBS Corporation
(NYSE: CBS.A and CBS) today announced that its board of directors
has received a letter from National Amusements requesting that the
company consider a potential combination of CBS and Viacom.
National Amusements, directly and through subsidiaries, owns
approximately 80% of the voting shares of both CBS and Viacom.
CBS is in receipt of the letter, and the Company will take
appropriate action to evaluate what is in the best interest of CBS
Corporation and its shareholders.
Certain statements in this release, including those relating
to the letter from National Amusements contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements.
Important factors that could cause actual results to differ
materially from our expectations include, without limitation: risks
related to the Company's businesses; capital market risks; the
impact of general economic or industry conditions; and other
factors described in the Company's filings with the Securities and
Exchange Commission including but not limited to the Company's most
recent Form 10-K, Form 10-Qs and Form 8-Ks. There can be no
assurance that any potential transaction referred to herein will be
entered into, the terms of any such transaction and whether if
entered into any such transaction will be consummated. We
intend these forward-looking statements to speak only as of the
time of this release and do not undertake any obligation to update
any forward-looking statements contained in this release as a
result of new information or future events or developments.
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company
that creates and distributes industry-leading content across a
variety of platforms to audiences around the world. The Company has
businesses with origins that date back to the dawn of the
broadcasting age as well as new ventures that operate on the
leading edge of media. CBS owns the most-watched television network
in the U.S. and one of the world's largest libraries of
entertainment content, making its brand — "the Eye" — one of the
most recognized in business. The Company's operations span
virtually every field of media and entertainment, including cable,
publishing, radio, local TV, film, and interactive and socially
responsible media. CBS's businesses include CBS Television Network,
The CW (a joint venture between CBS Corporation and Warner Bros.
Entertainment), CBS Television Studios, CBS Studios International,
CBS Television Distribution, CBS Consumer Products, CBS Home
Entertainment, CBS Interactive, CBS Films, Showtime Networks, CBS
Sports Network, Pop (a joint venture between CBS Corporation and
Lionsgate), Smithsonian Networks, Simon & Schuster, CBS
Television Stations, CBS Radio and CBS EcoMedia. For more
information, go to www.cbscorporation.com.
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SOURCE CBS Corporation