AT&T took a look at CBS before moving ahead with its $85 billion acquisition of Time Warner, according to the Wall Street Journal. CEO Randall Stephenson met with Shari Redstone in 2016, she along with her father Sumner, controls the media giant through their National Amusements holding company.
Continue Reading Below
In May, FOX Business was first to report that CBS Chief Les Moonves, privately conceded that his fight to wrest control of the broadcast outfit from Shari Redstone could end with its sale to another player in the rapidly evolving media business.
The two have been locked in a vicious battle for control of CBS which Shari Redstone has been pushing to combine with Viacom. The legal back-and-forth will be decided by a Delaware Court in October.
Since then, AT&T and Time Warner won their own battle against the U.S. Department of Justice which sued to block the deal. Earlier this month, U.S. District Court Judge Richard Leon approved the takeover.
|DIS||WALT DISNEY COMPANY||141.63||-0.94||-0.66%|
And 21st Century Fox, the parent of FOX Business and Fox News, is moving ahead with plans to combine with Disney after the Mouse House boosted its per share offer to $38 from $28 now valuing the takeover around $71 billion besting Comcast’s $65 billion offer, which some speculate could also be increased in the near future.