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Media Sumner Redstone

  • A person exits the Viacom offices in New York.

    Viacom reported better-than-expected quarterly profit and revenue on Wednesday, as moves to sell rather than release its movies returned Paramount Pictures to profitability.

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • April 11- Paulson& Co, the hedge fund firm led by billionaire investor John Paulson, has taken a stake in Viacom Inc as the U.S. media company has started to turn around its business, Paulson told Reuters in an interview. CBS and Viacom, both of which are controlled by media moguls Shari and Sumner Redstone, began exploring a merger in February. A merger of CBS, which owns...

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • Her longtime friend and business ally, powerful CBS Chief Executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • April 11- Paulson& Co, the hedge fund firm led by billionaire investor John Paulson, has taken a stake in Viacom Inc as the U.S. media company has started to turn around its business amid a challenging landscape, Paulson told Reuters in an interview. CBS and Viacom, both of which are controlled by Shari and Sumner Redstone, began exploring a merger in February.

  • Her long-time friend and business ally, powerful CBS chief executive Les Moonves, has emerged as one of the biggest obstacles to a potential CBS-Viacom tie-up, according to people familiar with the matter. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. Her family's company, National...

  • A person exits the Viacom offices in New York.

    Viacom has asked CBS to sweeten its merger bid by about $2.8 billion or almost a quarter more than CBS's offer, people familiar with the matter said.

  • Parsons' nomination comes as Shari Redstone, who with her father Sumner Redstone controls both CBS and Viacom, pushes to recombine the media giants after failing in an attempt to do so in 2016.. Shari Redstone had been gathering names of possible candidates for CBS's board, as the company plans on replacing several of its directors at its annual shareholder...

  • The CBS offer, which was communicated verbally last Friday, valued Viacom at below its market value of around $12.5 billion, according to the sources. National Amusements Inc, the controlling shareholder of CBS and Viacom, wants Viacom CEO Robert Bakish to be No. 2 in the combined company, the sources said. But CBS CEO Les Moonves, who has offered to run the combined...

  • CBS, Viacom talks hit potential roadblock

    CNBC's David Faber reports the latest on the potential deal between CBS and Viacom.

  • Sumner Redstone

    Media mogul Sumner Redstone has resorted to communicating through an iPad preloaded with clips of his voice saying "yes," "no" and what he REALLY thinks.

  • The fact that CBS's first bid for Viacom infers such a valuation reflects how CBS views its position in the U.S. media landscape as superior to Viacom's. As part of its initial offer to be submitted in the next few days, CBS Chief Executive Leslie Moonves will propose to stay at the helm for at least two years if the U.S. media company's bid to merge with peer Viacom is...

  • Feb 15- CBS Corp topped Wall Street's quarterly revenue and profit estimates on Thursday as U.S. and international distributors licensed more of its shows. CBS, whose shows include "Big Bang Theory" and "NCIS," has focused on diversifying its revenue away from advertising as many brands shift spending online from TV. CBS Chief Executive Leslie Moonves said on an...

  • The New York- based company's results come at a key juncture as CBS and Viacom Inc, which are both controlled by Sumner Redstone and his daughter Shari, each recently announced they had set up special committees to explore a merger. CBS and Viacom, which Sumner Redstone split more than a decade ago, had explored a merger in 2016 at the urging of the Redstones.

  • Les Moonves, president and chief executive officer of CBS Corp.

    The broadcast media company's earnings come amid chatter over its potential recombination with Viacom.

  • Viacom's controlling shareholder, Shari Redstone, has been urging CBS, which she also controls, to revisit a possible merger with Viacom. CBS and Viacom said last week they had formed special committees to explore a merger, the first step in a potential reunion of the companies split by media mogul Sumner Redstone more than a decade ago. A deal would pair CBS's...

  • Viacom shares rose 1.5 percent to $33.70 in after-hours trading, and CBS shares climbed 0.5 percent to $59.25. The companies had previously explored a merger in 2016 at the urging of ailing 94- year-old Sumner Redstone and his daughter Shari, who control CBS and Viacom through privately held National Amusements Inc.. Those talks failed due to concerns by CBS'...

  • The companies had previously explored a merger in 2016 at the urging of ailing 94- year-old Sumner Redstone and his daughter Shari, who control CBS and Viacom through privately held National Amusements Inc.. Those talks failed due to concerns by CBS' directors and Moonves over governance issues and the deal's financial sense for CBS shareholders.

  • The companies had previously explored a merger in 2016 at the urging of ailing 94- year-old Sumner Redstone and his daughter Shari, who control CBS and Viacom through privately held National Amusements Inc.. Those talks failed due to concerns by CBS' directors and Moonves over governance issues and the deal's financial sense for CBS shareholders.