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Viacom, CBS not in active merger discussions -sources


By Jessica Toonkel

(Reuters) - Inc and document.write("");

N> are not in active discussions, although controlling shareholder has had exploratory conversations with directors about recombining the companies, two sources familiar with the situation told on Friday.

and are both controlled by ailing Sumner Redstone, 94, and his daughter Shari, through their privately owned movie theatre company,

split and into separate companies decade ago. He and his daughter attempted to merge the two in 2016, but the effort failed.

National Amusements, and declined to comment.

Entertainment and website The Wrap on Friday reported that was seeking to merge and CBS, sending shares up as much as 15 percent, to $35.55.

shares fell, but were still trading up 7 percent in after hours trading following reports that was not being pursued.

(Reporting by Jessica Toonkel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 03:52 IST