UPDATE 1-Redstone weighs CBS-Viacom merger with or without Moonves [Reuters]
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Source: Reuters
Redstone weighs CBS-Viacom merger with or without Moonves | Reuters 7 Min Read NEW YORK (Reuters) - As she seeks to combine CBS Corp ( CBS.N ) and Viacom Inc ( VIAB.O ) into a single company, media mogul Shari Redstone risks losing her most talented executive, whose leadership could be critical to ensuring the proposed merger succeeds. Such is the difficulty facing Redstone. 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. Concerns are that his objections could either doom the transaction or that he might not lead the new entity, the people said. Moonves is chafing at Redstone’s insistence on installing Viacom’s CEO as his second-in-command and likely successor of a merged company, the people say. CBS and Viacom announced in February that they were exploring a potential deal and in recent weeks have begun negotiations. At stake
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