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Gasparino: CBS to Seek Potential Buyers After Moonves Probe Ends

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Tuesday, 09 October 2018 01:17 PM

CBS Corp. will look for potential buyers for the broadcast and media company after an investigation of its former Chief Executive Officer Leslie Moonves ends, a Fox journalist tweeted.

Moonves, who stepped down last month following allegations of sexual harassment, had opposed efforts by controlling shareholder Shari Redstone and her father Sumner Redstone to merge CBS with Viacom Inc. (VIAB.O), another company they own.

“CBS board will also soon begin to test the market for a potential buyer after conclusion of Moonves probe,” Charles Gasparino, a Fox Business Network journalist, tweeted.

Shares of the company (CBS.N) closed up 3 percent at $57.04 on Monday and were rising early Tuesday.

Gasparino also tweeted that CBS interim CEO Joe Ianniello is one of the front runners for the top job.

CBS declined to comment to a request from Reuters.

Long viewed as a successor to Moonves, former chief operating officer Ianniello was instrumental in the company’s success after its split from Viacom in 2006.

He has overseen CBS’s transformation from traditional television and radio broadcaster to a supplier of shows to digital platforms and the launch of its own streaming TV service.

© 2019 Thomson/Reuters. All rights reserved.

   
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CBS Corp. will look for potential buyers for the broadcast and media company after an investigation of its former Chief Executive Officer Leslie Moonves ends, a Fox journalist tweeted.
gasparino, cbs, buyers, moonves
190
2018-17-09
Tuesday, 09 October 2018 01:17 PM
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