Redstone firm calls off CBS, Viacom merger proposal

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  • FILE - In this Feb. 13, 2012, file photo, a CBS logo is displayed on the exterior of CBS Scene Restaurant and Bar, at Gillette Stadium, in Foxborough, Mass. Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split. National Amusements, which owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (AP Photo/Steven Senne, File)

    FILE - In this Feb. 13, 2012, file photo, a CBS logo is displayed on the exterior of CBS Scene Restaurant and Bar, at Gillette Stadium, in Foxborough, Mass. Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and ... Viacom reunite after a 10 year split. National Amusements, which owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (AP Photo/Steven Senne, File) (The Associated Press)

  • FILE - This Aug. 3, 2011, file photo, shows the Viacom logo at Viacom headquarters in New York. Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split. National Amusements, which owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (AP Photo/Mark Lennihan, File)

    FILE - This Aug. 3, 2011, file photo, shows the Viacom logo at Viacom headquarters in New York. Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split. National Amusements, which ... owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (AP Photo/Mark Lennihan, File) (The Associated Press)

  • FILE - In this Oct. 1, 2012, file photo, Sumner Redstone attends the premiere of "Seven Psychopaths" in Los Angeles. Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split. National Amusements, which owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (Photo by Matt Sayles/Invision/AP, File)

    FILE - In this Oct. 1, 2012, file photo, Sumner Redstone attends the premiere of "Seven Psychopaths" in Los Angeles. Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split. National Amusements, which ... owns most of the voting shares of the two companies, had urged the companies to combine in September 2016. (Photo by Matt Sayles/Invision/AP, File) (The Associated Press)

Media mogul Sumner Redstone's National Amusements is abandoning a proposal that CBS and Viacom reunite after a 10 year split.

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National Amusements, which owns most of the voting shares of the two companies, urged the companies to combine in September.

Now, the company says that following management changes at Viacom and strength at CBS, which operates CBS, Showtime and other entities, under Les Moonves it makes more sense for the companies to continue as separate entities. Viacom, which owns cable channels MTV, Nickelodeon and VH1, named Robert Bakish as acting president in late October.

National Amusements is a movie theater operator run by Redstone, who orchestrated the split of CBS and Viacom in 2006, and his daughter Shari Redstone.