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Stock impact report

Viacom, CBS up amid merger discussions [CNN]

Via Renewables, Inc. - Class A (VIA) 
US:NASDAQ Investor Relations: ir.viacom.com
Company Research Source: CNN
Viacom, CBS up amid merger discussions Shares in Viacom and CBS jumped Friday after a report that the sibling media companies might be reunited once again. Such a move could give a lift to Viacom, which has been struggling to impress investors. But there are no signs of any imminent announcement. The Wrap reported shortly before the market closed on Friday that "Viacom and CBS vice-chairwoman Shari Redstone is pursuing a merger of the two media companies." The story cited "multiple insiders." Shares in both companies were basically flat until the story came out. Shares in Viacom ( VIA ) closed at $33.76, up 9.57% for the day. CBS ( CBS ) closed at $58.83, up 1.85%. Redstone and senior executives have, indeed, recently discussed recombining the two companies, two sources with knowledge of the talks, who spoke on condition of anonymity because the companies are not commenting on them, told CNN. Redstone is inclined to make the move. But no concrete steps in that direction have be Show less Read more
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