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Friday, Sep 30, 2022
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Redstone Says CBS, Viacom Not for Sale

CBS Corp. Executive Chairman Sumner Redstone spelled out again that he has no interest in selling the network or its sister company, Viacom Inc.

“I will never, N-E-V-E-R, sell Viacom or CBS,” Redstone said in response to a shareholder question during CBS’s annual meeting in New York on Wednesday.

Speculation has been heating up in recent months that broadcast networks, such as CBS and the Walt Disney Co’s ABC, are ripe for acquisition in light of Comcast Corp’s agreed purchase of NBC.

Also during the meeting CBS Chief Executive Les Moonves addressed recent reports the news division is in talks to partner with CNN, owned by Time Warner. Moonves reminded shareholders that CBS and CNN have had an ongoing dialogue for a decade.

&#8226 Read the full Reuters story.

&#8226 Read a related Los Angeles Business Journal story about Sumner Redstone.

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