CBS CEO Moonves says 'no active discussions' with Viacom


CBS Corp is not in "active discussions," about recombining with Viacom Inc , CBS Chief Executive Leslie Moonves said on Thursday.

Continue Reading Below

"We are never going to do something that is bad for CBS shareholders," said Moonves, speaking at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference. He declined to elaborate.

There has been increasing speculation among media industry insiders that CBS and Viacom may recombine since Viacom's controlling shareholder Sumner Redstone, and his daughter, Shari Redstone won the battle for control for Viacom, resulting in the departure of Viacom's former CEO Philippe Dauman last month.

Viacom split from CBS in 2006.

(Reporting By Jessica Toonkel, Editing by Franklin Paul)