CBS Corp. announced Thursday that it has formed a special committee to examine a potential merger with Viacom. The company sent out a concise announcement that reads in full:
“CBS Corporation (NYSE: CBS.A and CBS) announced today that its board of directors has established a special committee of independent directors to evaluate a potential combination with Viacom Inc. (NASDAQ: VIAB, VIA).
“There can be no assurance that this process will result in a transaction or on what terms any transaction may occur. Neither CBS nor the committee intends to comment further, until the process is completed.”
Viacom also announced Thursday that its board had formed a committee to explore a merger.