CBS and Viacom to Reunite in Victory for Shari Redstone [The New York Times]
AT&T Inc. (T)
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Source: The New York Times
CBS and Viacom to Reunite in Victory for Shari Redstone - The New York Times Shari Redstone got her wish. After more than a decade apart, CBS and Viacom, both under her control, agreed to merge on Tuesday in a deal that will reunite a roster of once-mighty media es. Viacom’s Paramount film studio and MTV and Nickelodeon cable networks will be added to the broadcast giant CBS and the book publisher Simon & Schuster. The combination of CBS and Viacom is a victory for Ms. Redstone, the leader of a family that has led the two media giants for two decades. Their reunification (the two companies were once a single entity Ms. Redstone had pushed for a deal for at least three years but faced fierce opposition from CBS’s board, including its former chief executive, Leslie Moonves. Mr. Moonves was pushed out last September after several women accused him of sexual assault. He has denied the charges. Ms. Redstone will be chairwoman of the combined company. “I am really excited to see these two
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