The Voyage Home: Redstone Family Begins the Recombination of Viacom and CBS
The widely expected recombination of Viacom and CBS took another step forward, as National Amusements sent a letter on Thursday to the boards at both companies, urging a merger and explicitly outlining National Amusements’ opposition to any sale of or combination of either CBS or Viacom with a third party. While National Amusements, which is owned by Sumner and Shari Redstone, holds 80% of the voting rights in both firms, the combination would have to be approved by committees of independent dir...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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