Redstones Reverse Course, Call Off CBS-Viacom Merger Talks
Sumner and Shari Redstone issued a statement on Dec. 12 asking Viacom and CBS to end the deliberations about a merger of the two firms. The letter reverses the family’s position from a statement in September that asked the two firms to consider a reconsolidation of the firms. By ending the merger discussion, the Redstones appear to be willing to let the current temporary management team at Viacom pursue a stand-alone strategy for turning around the struggling media firm. We think that at CBS, th...CBS is a mass media company, which operates the following segments: Entertainment, which is consists of the CBS Television Network, CBS Television Studios, CBS Global Distribution Group, Network 10, CBS Interactive, CBS Sports Network, and CBS Films as well as the company's digital streaming services CBS All Access and CBSN; Cable Networks, which consists of Showtime Networks and its digital subscription streaming offering, and Smithsonian Networks; Publishing, which consists of Simon & Schuster's consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner and Atria Books; and Local Media, which consists of CBS Television Stations and CBS Local Digital Media.
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