Moonves: Viacom Talks Still in Early Stages
Related: CBS Reports Gains in 3Q Earnings
CBS CEO Les Moonves said exploration of a possible combination with Viacom is still in the early stages.
Both CBS and Viacom are controlled by the Sumner Redstone family, which has asked the two companies to study a combination. Both companies have formed committees to look at a combination.
“We are still in very early stages,” said Moonves during CBS’ earnings call with analysts Thursday afternoon. He said the outcome was “unclear.”
Related: CBS Plans to Market OTT Products Together
“If it looks rights and it is structured properly, it could be an attractive opportunity,” Moonves said. But he added he was confident of CBS’ prospects if it remains separate.
“We will only do a deal if it is in the best interest of CBS and all of its shareholders,” he said. “Whatever the outcome, CBS has a very bright future ahead.”
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.