Shari backs off Bob

But Les is likely unhappy with Bakish on board

Media heiress Shari Redstone has given up her demand that Viacom Chief Executive Bob Bakish be second-in-command should the media company merge with CBS.

The concession is a victory for Les Moonves, who, as a condition to even discuss a combination with Viacom, insisted his chief operating officer, Joe Ianniello, keep the same title in a possible post-merger setup.

Redstone hopes the concession will restart merger talks that had become bogged down, according to a report on Friday.

Redstone, who controls both media companies through her family-owned National Amusements, is now insisting Bakish, 54, only be on the board of a combined entity.

If he gains a seat on the board, Bakish, who is helping to orchestrate a turnaround at Viacom, the owner of MTV, Paramount and Comedy Central, will be in position to take over when the 68-year-old Moonves exits, according to Reuters, which first reported on Redstone’s concession.

Representatives for Redstone, CBS and Viacom de- clined comment.

Redstone has been pressuring CBS and Viacom to combine, but the two companies have been at an impasse over a sale price and the makeup of the management team.

Moonves is not likely to accede to Redstone’s new offer — to have Bakish sit in waiting on the board — sources said.

Moonves is likely to press Redstone to have complete control over the management and board composition, sources said.

Ianniello, Moonves’ righthand man, has worked at Viacom and is being groomed to take over the top spot.

“CBS has serious doubts about the deal, given what it perceives to be this latest ruse,” said people familiar with CBS’ thinking. “What is important to CBS management is to have autonomy to run the company.”

Redstone’s concession on the No. 2 spot “does not change the outcome,” a CBS insider said, explaining that Bakish would eventually run the combined company, just as the heiress wants.

Bakish, who became CEO of Viacom in 2016, is a close confidant of Redstone’s, and perhaps, not surprisingly, her top choice to succeed Moonves.

Investors, sensing talks on a Viacom-CBS merger improved with Redstone’s move, pushed CBS shares up 9 percent on Friday, to $53.17.

Viacom gained 3.1 percent, to $30.29.