Deals
CBS Board Meets to Weigh Deal as Viacom Finds Its Footing
- Rebound at Viacom strengthens hand of its CEO, Bob Bakish
- That could mean sweeter terms for MTV’s owner in a merger
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When Viacom Inc. was weighing a merger with CBS Corp. last year, it didn’t seem like Chief Executive Officer Bob Bakish was negotiating from a position of strength.
Viacom’s Nickelodeon and MTV networks were losing viewers to Netflix Inc. and YouTube, and its Paramount Pictures studio was bleeding red ink. CBS, meanwhile, had the most-watched network and star CEO Les Moonves. Its board didn’t want Bakish in a top role: Moonves should take the helm, with his top deputy Joe Ianniello assuming the No. 2 spot.