Moonves looks to buy CBS ahead of potential Viacom merger
February 5, 2015
CBS boss Les Moonves, fearful a merger with Viacom will be forced upon his company after majority owner Sumner Redstone dies, is discussing ways to buy out the broadcaster’s controlling shareholder, National Amusements.
Moonves believes a merger with Viacom will leave him in an inferior position vis-à-vis Philippe Dauman, the Viacom CEO, and could shortchange CBS minority shareholders. As a result, Moonves has been having discussions with Wall Street heavy hitters about backing such a buyout, sources said.
Moonves looks to buy CBS ahead of potential Viacom merger