Viacom-CBS Parent Company to Call for Merger (Report)

National Amusements, Inc. wants Philippe Dauman’s former company to rejoin Les Moonves’ broadcast net

Last Updated: September 29, 2016 @ 12:19 PM

Viacom and CBS’ controlling shareholder, National Amusements, Inc., is going to call on the two companies to explore re-merging, per a media report.

Here’s what Reuters wrote this morning:

“National Amusements Inc (NAI), the controlling shareholder of CBS Corp (CBS.N) and Viacom Inc (VIAB.O), is preparing to call on the two media companies to explore a merger, two people familiar with the matter said on Wednesday.”

“NAI may contact the two companies as early as this week to ask them to form independent board committees to explore a combination, one of the people said.”

“The sources asked not to be identified because the deliberations are confidential. Viacom and CBS declined to comment, while NAI did not immediately respond to requests for comment.”

Reps for National Amusements, Inc. did not immediately respond to TheWrap’s requests for comment.

Viacom declined comment, while all CBS had to say was, “As we’ve said before, the CBS Corporation will always act in the best interest of all of its shareholders.”

Several media analysts believe that a rejoining of Viacom and CBS is the only way to save the fledging former of the two publicly traded companies. The market may agree: VIAB is currently trading up around 2 percent today.

CBS and Viacom split in 2005. NAI is controlled by the Sumner M. Redstone Trust. The company recently removed Philippe Dauman from atop Viacom and is in the process of turning over the board of directors there. With the recent departure of Viacom interim CEO Tom Dooley, the MTV/Comedy Central/Nickelodeon owner could use some strong leadership.