Mnuchin told CNBC that he's confident President Donald Trump and President Xi Jinping can make progress in stalled trade talks.World Economyread more
U.S. stock index futures jumped Wednesday morning after Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China were almost there on a trade deal.US Marketsread more
President Donald Trump's administration hopes additional sanctions on Iran will force the country to negotiate.Politicsread more
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Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
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May 30 (Reuters) - Shares of Viacom Inc jumped nearly 6% on Thursday on a report that CBS Corp's board is preparing for merger talks with the media company.
Talks between the two companies are expected to start in mid-June, CNBC reported on Thursday, citing sources. The companies have not yet held discussions, sources familiar with the two companies said.
Both CBS and Viacom declined to comment.
Shares of Viacom were up 5.8% in midday trading, while CBS was up about 3.2%.
The CBS board met on Wednesday to review strategic options that included an unofficial offer it made to buy Lions Gates' Starz cable network for $5 billion, one source briefed on the meeting said.
As a condition of the September, 2018 settlement that led to CBS dropping a lawsuit against its controlling shareholder, Shari Redstone and her family's National Amusement Inc, Redstone agreed not to raise the possibility of a merger between CBS and Viacom Inc, which she also controls, for about two years. But it left open the possibility of independent members of the CBS board proposing a combination.
Sources close the companies have said CBS' independent board of directors is reviewing a variety of options to protect itself against potential shareholder lawsuits that will likely come regardless of the outcome.
The widely anticipated third attempt to recombine CBS and Viacom is the latest in waves of media mergers to gird against competition for customers from digital rivals Netflix , Amazon.com Inc and Apple Inc.
While big media companies Walt Disney Co, which purchased 21st Century Fox's entertainment assets, and AT&T Inc, which bought Time Warner, are tapping their extensive film and TV libraries to launch subscription streaming services, smaller players CBS and sister company Viacom have built advertising-supported and subscription video services while also providing original content to other distributors.
Reuters reported earlier in May that Lions Gates Entertainment offered to sell cable channel Starz to CBS for $5.5 billion after rebuffing CBS' lower offer. (Reporting by Kenneth Li in New York and Akanksha Rana in Bengaluru; Editing by James Emmanuel and Dan Grebler)