Moonves: Viacom Talks Still in Early Stages - Broadcasting & Cable

Moonves: Viacom Talks Still in Early Stages

Deal happens only if in best interest of CBS shareholders, CEO says
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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.”

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“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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