July 14 2024

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CBS And Viacom Nearer To Merger Talks

1 min read

According to Variety, CBS‘s board of directions is “moving closer to initiating acquisition discussions with Viacom.” This comes after settling its own problems, including the removal of CEO Les Moonves, and a lawsuit against controlling shareholder Shari Redstone.

After the removal of Leslie Moonves as a result of sexual assault allegations, CBS began the search for a permanent CEO, but has now settled on Joseph Ianniello, acting CEO. His contract runs through the end of 2019.

The lawsuit was settled last autumn as part of the negotiations regarding Moonves’ exit from the company.

Potential obstacles to a merger could be Viacom‘s “troubled assets,” including low-profile cable channels.

Redstone believes that CBS and Viacom should merge. The management issue of the last attempt at a merger is probably no longer a problem with the departure of Moonves.

If talks are ultimately successful, all of Star Trek would be included under one company, not two as is the case presently.

TrekToday will report on future developments.

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