“Raising the idea of a CBS-CNN merger is something of a tradition when CBS speaks about its prospects to Wall Street,” Variety says. And it happened again this week at the net’s annual meeting.
Chairman Sumner Redstone told shareholders, “CNN would be a lot better off if CBS owned it.” And CEO Les Moonves said he’d be “very interested” if Time Warner were willing to sell.
A TW spokesperson says CNN is not for sale, and both sides say no formal approach has been made.
“The last time CBS made a full-court press for CNN was” in 2003. Back then, it was about a merger, not a sale. “CNN may be losing its battle with Fox News, but it increasingly appears that CBS is the one that needs the help, which may be why the rhetoric has shifted from merger to all-out acquisition,” Michael Learmonth writes. He ponders the pairing; keep reading…
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