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Shari Redstone: I didn't support 2005 Viacom-CBS split

Published 11/10/2016, 07:23 PM
Shari Redstone: I didn't support 2005 Viacom-CBS split
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  • Speaking to the DealBook Conference, Shari Redstone -- currently part of the ownership urging CBS (CBS -0.5%) and Viacom (VIA +0.4%, VIAB +0.1%) to look into a merger -- says she never supported the two companies' splitting up in the first place.
  • A decade ago, Sumner Redstone (who controls CBS and Viacom through family holding company National Amusements) decided to divide the two into separate companies, and while CBS has thrived, Viacom has wrestled with falling ratings and declining ad sales.
  • "I was never a great proponent of the split of the two companies," Shari said, adding that Viacom's fate could have turned out better with different leadership (i.e., not now-ousted chief Philippe Dauman).
  • While she and Sumner are supporting a merger, the companies "can stand on their own and be great," she said.

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