CBS Is Planning Offer for Sister Company Viacom

Date : 06/19/2019 @ 1:42PM
Source : Dow Jones News
Stock : Viacom Inc (VIAB)
Quote : 22.76  0.03 (0.13%) @ 11:24PM

CBS Is Planning Offer for Sister Company Viacom

Viacom (NASDAQ:VIAB)
Historical Stock Chart

6 Months : From Apr 2019 to Oct 2019

Click Here for more Viacom Charts.
By WSJ City 

CBS is preparing to make an offer for sister media company Viacom in the coming weeks, following a meeting of CBS directors last week in which a potential deal was discussed, according to people familiar with the situation.

KEY FACTS

--- Representatives of the firms have already had preliminary discussions about a deal, one of the people said.

--- If the companies move ahead with talks, it would be a third attempt to reunite the $30bn empire.

--- It was divided by mogul Sumner Redstone more than 13 years ago.A deal is far from certain.

--- Determining a price is one major hurdle.

--- Viacom CEO Bob Bakish is thought by people familiar to be favourite to become CEO of the combined company.

Why This Matters

Shari Redstone, vice chairman of both companies, believes that CBS and Viacom would be better positioned to compete with larger rivals as one company. She is president of National Amusements, which controls both CBS and Viacom.

Viacom has been the weaker of the two companies over the past several years, having suffered as cable-TV cord-cutting pulled down ratings for its major networks. A merger with CBS would give Viacom greater scale and more leverage in negotiations with advertisers and cable-TV providers.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

 

(END) Dow Jones Newswires

June 19, 2019 08:27 ET (12:27 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest VIAB Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.