Viacom shares soar amid CBS merger reports

Business 1/13/2018, 1:52 AM
Viacom shares soar amid CBS merger reports

Viacom Inc. shares jumped on Friday, following reports that the company might merge with CBS Corp. Media outlets reported on Friday that shareholder and executive Shari Redstone was interested in reuniting companies once again.

Soon after the news emerged, sources told CNBC that there are no active talks between Viacom and CBS, adding that no offer was made, nor the forming of any committees took place. The two companies split 13 years ago, six years after they have merged.

With Wall Street closing Friday trading session at record highs, Viacom jumped 9.57%, while CBS was up 1.82%.

Breaking the News / BM


VIACOM B+1.31%

Chart for: VIACOM INC. B     DL-,001

VIACOM A+3.83%

Chart for: VIACOM INC. A     DL-,001

CBS B0.00%

Chart for: CBS CORP. B DL -,001