"CBS needs far greater scale and a recombination with Viacom is the most logical first step, albeit only a first step with several follow-on strategic moves needed (acquisitions or merger with an even larger entity)", wrote Greenfield in a research note. In the year since, Mr. Bakish has worked to revive the company by reinvigorating MTV, Comedy Central and other Viacom TV networks for the digital age, bringing growth to the Paramount Pictures studios and expanding the company's worldwide footprint.
Celebrity Big Brother 2018 final voting percentages REVEALED
Thank you! Thank you to the eight glorious women who were in the house and to all of my other housemates. Five housemate remained in the house at the beginning of the live final.
According to commentators, though the companies' merger talks were called off in 2016, the media landscape has evolved dramatically since then, with the proposed mega-mergers of AT&T and Time Warner and Disney and Fox. Redstone's health is now very poor, and his daughter Shari Redstone is the vice chair of both companies.
But both companies face challenges keeping pace in an increasingly digital world, especially amid the merger frenzy that has swept across the media industry.
Apple under investigation for how it handled iPhone slow-down update
As many as 50 proposed class actions suits have been filed by consumers, over the company's latest software update. In a statement, the company said that they would never "degrade the user experience to drive customer upgrades".
When the CBS board of directors met on Thursday, it made a decision to form a special committee to consider a reunion. CBS was up about 0.5% and VIacom was up 1.5%.
Meanwhile, the share price of Viacom tumbled further over the past year, which makes a deal more attractive on a financial basis for CBS shareholders. Thus the CBS board may have concerns.
AbbVie (ABBV) Lowered to Buy at Vetr
Larry Robbins increased its stake in Mckesson Corp (MCK) by 129.06% based on its latest 2017Q3 regulatory filing with the SEC. Societe Generale increased their price target on shares of AbbVie in a report on Tuesday, November 21st. (NYSE: ABBV ).
In identical statements, the two companies said Thursday, "There can be no assurance that this process will result in a transaction or on what terms any transaction may occur".