Viacom and CBS Continue to Dance Around a Reunion; Management Composition Remains a Sticking Point
The CBS-Viacom reunion dance continues unabated with Reuters and CNBC reporting on Monday that Viacom countered the opening offer from CBS by asking for a $2.8 billion sweetener and the number-two role for Viacom CEO Bob Bakish. A story from The Los Angeles Times reported that CBS will reject the counteroffer with no details on a revised offer from CBS. As we noted previously, the deal is being negotiated by the special committees for both companies, which appear to have much different thoughts ...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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