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CBS and Viacom boards form exploratory committees and hire bankers to mull a deal

CBS and Viacom are nearer to officially starting talks on reuniting.

The bodies said in separate statements Thursday that their boards experience formed exploratory committees to mull a deal. Viacom said it has rental outside legal advisers and will hire bankers.

Statements from both concerns said, “There can be no assurance that this process will dnouement develop in a transaction or on what terms any transaction may occur.” They also put they wouldn’t comment further, “until the process is completed.”

A blend of the two, which were split more than a decade ago by the media big cheese Sumner Redstone, is being orchestrated by his daughter Shari. It would mingle CBS’s broadcast television network with Viacom’s cable channels and screen studio amid a big shakeup in the industry.

The Redstones control both CBS, which has a call value of $22 billion, and Viacom, $13 billion, through their privately hinder b withheld National Amusements. An earlier effort to combine the two was abandoned a little numerous than a year ago.

In its own statement, National Amusements said it “supports the dispose ofs announced by CBS and Viacom to evaluate a combination of the two companies, which we believe has the embryonic to drive significant, long-term shareholder value. National Amusements does not currently mean to make any further comments regarding the process.”

CBS shares rose 2.2 percent on Thursday, while portions of Viacom closed down 0.6 percent.

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