If CBS winds up having a shotgun wedding to Viacom, what would that mean for both media giants?
A merger is in play after National Amusements, Inc. on Thursday proposed recombining the companies, which split in 2005. NAI controls both entities through “supervoting” shares held by the ailing 93-year-old mogul Sumner Redstone and his daugther, Shari.
But this arranged marriage would come with plenty of headaches even before the honeymoon. Viacom has endured months of painful boardroom turmoil, ultimately booting its chief executive and other top managers as the Redstone family jockeyed for control.
CBS Corp., for its part, is run by outspoken Leslie Moonves, who has made it clear he favors keeping the broadcast giant as a standalone company, even though he would be the likely candidate to run the merged companies.