Les Moonves on Monday discussed the ongoing merger talks between his CBS and sister corporation Viacom — and time seemed not only to stand still, but to march backward.
The NY Post reports the talks, chief executive said, are in “the very early stages.”
Just over a month ago, in discussing CBS’ third-quarter results, Moonves said the same talks “are still in the early stages.”
Any more give and take among the two companies’ investment bankers and they just might talk themselves out of a deal.
Moonves, apparently ready for any type of ending for the merger talks, insisted CBS is also “very happy the way we are as a stand-alone.”
Speaking at a Manhattan media conference, Moonves had little else to say about the widely expected reunion of CBS and Viacom, which were split a decade ago by controlling shareholder Sumner Redstone.
“There are a lot of committees, a lot of lawyers and a lot of bankers,” Moonves said Monday. “But that’s about all I’m going to say for now.”
Moonves tells Monday’s UBS Global Media confab there’s “very positive feedback” on the CBS Radio Initial Public Offering. And that it’s “all going according to plan.”
He needs to support the radio division as it sells a minority stake, probably less than 20%, to investors. That’s stage 1. Stage 2 is the spin-off of the rest of CBS Radio to CBS shareholders – and then after nine decades of history, CBS is out of the radio business.
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