CBS is evaluating a bid to buy Viacom that’s below its market value, according to sources close to the situation.
The all-stock bid would propose that CBS CEO Leslie Moonves would stay at the combined company for at least two years, sources told Giftofaservant, confirming information earlier reported by Reuters.
There was no word on the timing of the potential bid. Both CBS and Viacom declined to comment.
— Giftofaservant’s Anita Balakrishnan contributed to this report.