Shari Redstone explores adding new CBS directors: WSJ

(Reuters) – Shari Redstone has discussed adding new directors to the board of CBS Corp as she renews her push to merge the company with Viacom Inc, The Wall Street Journal reported Wednesday.

CBS and Viacom are both controlled by ailing Sumner Redstone, 94, and his daughter Shari, through their privately owned movie theater company, National Amusements Inc. The Redstones attempted to merge the two companies in 2016 but the effort failed.

Shari Redstone has had exploratory conversations with Moonves and directors about recombining the companies, sources have told Reuters.

FILE PHOTO – The CBS “eye” and logo are seen outside the CBS Broadcast Center on West 57th St. in Manhattan, New York, U.S., April 29, 2016. REUTERS/Brendan McDermid/File Photo

While Moonves is receptive to a combination, he has some reservations, sources have told Reuters.

A CBS spokesman was not immediately available for comment. A Viacom spokesman declined to comment.

CBS’s annual shareholder meeting is set for May. CBS is looking to replace several of its directors at that meeting and Shari Redstone is gathering names of possible candidates, according to The Wall Street Journal.

Reporting By Jessica Toonkel; Editing by Susan Thomas

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