Controlling Holder In CBS, Viacom Pushing For Merger

Shares of

Viacom, Inc.VIAB

traded higher on Wednesday following a report that a merger with

CBS CorporationCBS

is being pursued by common controlling shareholder. CBS' stock also traded modestly up following the news.

According to a Reuters report, National Amusements Inc (NAI), which is a controlling shareholder of both the companies, is pushing for a merger proposal.

The report further stated that both the companies have been asked to establish an independent board committee to look into the possibility of amalgamating CBS and Viacom.

None of the parties involved in the discussions have confirmed or denied the report.

At Time Of Writing ...

CBS was up 0.79 percent at $52.47.
Viacom was up 1.66 percent at $36.02.

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Controlling Holder In CBS, Viacom Pushing For Merger

At Time Of Writing ...