{"id":7544,"date":"2016-12-12T09:45:13","date_gmt":"2016-12-12T14:45:13","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/national-amusements-withdraws-cbs-viacom-merger-proposalnorwood\/"},"modified":"2016-12-12T14:23:54","modified_gmt":"2016-12-12T19:23:54","slug":"national-amusements-withdraws-cbs-viacom-merger-proposalnorwood","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/national-amusements-withdraws-cbs-viacom-merger-proposalnorwood\/","title":{"rendered":"National Amusements Withdraws CBS-Viacom Merger Proposal"},"content":{"rendered":"

NORWOOD: National Amusements has asked the boards of CBS and Viacom to discontinue their exploration of a potential combination.<\/p>\n

“This past September, we asked the boards of CBS and Viacom to consider a potential combination,” National Amusements CEO Sumner M. Redstone and President Shari Redstone said in a statement. “We believed that given the industry landscape, a merger might redound to the benefit of both companies and their shareholders. On a parallel track, we urged both companies to move forward with steps to strengthen their operations on a stand\u2010alone basis.<\/p>\n

“Over the past few months, after careful assessment and meetings with the leadership of both companies, we have concluded that this is not the right time to merge the companies,” the statement continued. “Following the management changes that the Viacom board put in place, we have been very impressed with the forward\u2010looking thinking and strategic plan being pursued under Bob Bakish\u2019s leadership. We know Viacom has tremendous assets that are currently undervalued, and we are confident that with this new strong management team, the value of these assets can be unleashed. At the same time, CBS continues to perform exceptionally well under Les Moonves, and we have every reason to believe that momentum will continue on a stand\u2010alone basis.<\/p>\n

“Based on our assessment of the strengths, progress and future prospects of both companies, we are requesting that the boards discontinue their discussions at this time and focus instead on their independent paths forward.<\/p>\n

“We are incredibly proud of the talented and hard\u2010working individuals who comprise both companies, and who are truly second to none in the industry. We would like to thank the boards and special committees of both Viacom and CBS for their consideration of our request.”<\/p>\n","protected":false},"excerpt":{"rendered":"

NORWOOD: National Amusements has asked the boards of CBS and Viacom to discontinue their exploration of a potential combination.<\/p>\n","protected":false},"author":350,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[239,847,557],"class_list":["post-7544","post","type-post","status-publish","format-standard","","category-top-stories","tag-cbs","tag-national-amusements","tag-viacom"],"yoast_head":"\nNational Amusements Withdraws CBS-Viacom Merger Proposal - TVUSA<\/title>\n<meta name=\"description\" content=\"NORWOOD: National Amusements has asked the boards of CBS and Viacom to discontinue their exploration of a potential combination.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/worldscreen.com\/tvusa\/national-amusements-withdraws-cbs-viacom-merger-proposalnorwood\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Amusements Withdraws CBS-Viacom Merger Proposal - 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