Red­stones of­fi­cially urge Vi­a­com- CBS merger talks

Baltimore Sun - - ELECTION 2016 - — Los An­ge­les Times

Sum­ner Red­stone and his daugh­ter, Shari, have of­fi­cially taken a key step to­ward putting Vi­a­com and CBS back to­gether again. Na­tional Amuse­ments Inc., the Red­stone-con­trolled movie the­ater chain and in­vest­ment ve­hi­cle, sent a let­ter to the boards of di­rec­tors at both com­pa­nies on Thurs­day urg­ing them to con­sider merg­ing. The let­ter was ex­pected, and has been con­sid­ered the long-term goal of the 93-year-old Sum­ner Red­stone and his daugh­ter af­ter they pre­vailed in an in­tense power strug­gle that re­sulted in the ouster of Vi­a­com CEO Philippe Dau­man. Na­tional Amuse­ments con­trols 80 per­cent of the vot­ing shares of both firms. An­a­lysts have said a re­com­bi­na­tion of Vi­a­com and CBS could re­sult in a more for­mi­da­ble me­dia player to com­pete with the likes of the Walt Dis­ney Co. and 21st Cen­tury Fox. Vi­a­com has strug­gled since it split from CBS in 2006, while CBS has thrived.

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