News Formal

CBS board plans merger talks with Viacom: CNBC

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

CBS Corp's board is preparing for merger talks with Viacom Inc, CNBC reported ...

REUTERS: CBS Corp's board is preparing for merger talks with media company Viacom Inc, CNBC reported on Thursday, citing sources.

The merger talks between the two companies are expected to start in mid-June, the report said, adding that the companies have not yet held discussions.Shares of both companies were up about 4per cent in early trading on Thursday after the report. While media majors Walt Disney Co and AT&T Inc are tapping into their extensive film and TV libraries to launch streaming rivals to Netflix and Amazon.com's Prime Video, smaller players CBS and sister company Viacom are focusing on providing original content to other distributors.

Reuters had reported in May that Lions Gates Entertainment also offered to sell cable channel Starz to CBS for US$5.5 billion after rebuffing a lower offer.CBS and Viacom are controlled by National Amusements, which is owned by the Redstone family.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fiat Chrysler presents plan for merger with RenaultItalian-US auto giant Fiat Chrysler presented a merger proposal to France's Renault on Monday that would create the world's third largest automaker.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nissan tells Renault 'not opposed' to Fiat Chrysler merger plan: NikkeiNissan on Wednesday told Renault it wasn't opposed to its partner's potential US$35 billion merger with Fiat Chrysler, the Nikkei newspaper said, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fiat Chrysler makes merger offer to RenaultFiat Chrysler has made a 'transformative merger' proposal to French peer Renault, the Italian carmaker said on Monday, in a deal which would ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian shares follow Europe higher on EU relief, auto mergerAsian shares tracked European gains on Tuesday, as relief over EU election results eased concerns about political difficulties in the bloc and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »