 "CBS submits bid to acquire Viacom, the owner of MTV and Comedy Central")
CBS submitted its bid to acquire Viacom, the owner of MTV and Comedy Central, according to a person with knowledge of the matter, opening negotiations that will decide the fate of the two media companies controlled by the Redstone family.
A special committee of five CBS board members put together the offer, which calls for CBS management to lead the recombined company. CBS is led by Leslie Moonves, chief executive officer, and his No 2, Joseph Ianniello, chief operating officer.
CBS is offering a below-market value for Viacom shares, according to the person, who asked not to be identified discussing non-public
