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A report that Shari Redstone is interested in recombining Viacom and CBS sent both stocks higher heading into Friday's close. But subsequent reports said that Viacom is not in active talks with CBS about a potential reunion of the two companies, which split more than 10 years ago.
Sources told CNBC that no offer has been made and that no bankers have been hired. The people also said that no committees have been formed.
CBS shares ended Friday's session nearly 2 percent higher, while Viacom closed more than 9 percent higher. But in the after-hours session, Viacom shares fell about 2 percent.
Earlier Friday, TheWrap reported, citing multiple insiders, that Redstone is interested in recombining CBS and Viacom. Redstone is president of National Amusements, which controls both Viacom and CBS. She also serves as vice chair on the board of both companies.
While two people familiar with the matter told Reuters that Redstone has had exploratory conversations with CBS directors, the sources said the companies are not in active discussions about recombining.
Sources told TheWrap that Redstone believes that a larger company would be more competitive in the current media environment. They also told TheWrap that CBS Chairman Les Moonves is now open to discussions about reuniting with Viacom.
CBS declined to comment to CNBC. Viacom had no comment.