CBS Corp. Chairman Leslie Moonves commented on a potential remerger of CBS Corp. and Viacom during his company’s quarterly earnings call, with Fortune quoting the executive saying merger discussions are “not even in the second inning.”
Moonves added that he does not know how quickly the talks will proceed, nor what the outcome will be. The merger is being encouraged by the Redstone family, which controls both companies.
“Many investors and media insiders want Moonves to take over as CEO of the combined companies, given his successful track record at CBS,” Fortune notes. “But while the CBS chairman admitted that a merger ‘could be an exciting opportunity,’ he said it would only happen if it was in the interests of CBS shareholders.”