Viacom, CBS jump on report of new re-merger pursuit

Viacom shares are spiking (VIA +6.6%, VIAB +8.6%) along with CBS (CBS +1.7%) as TheWrap says the two are seeking a merger.

Shari Redstone, whose Redstone family firm National Amusements controls the two companies, is again pursuing the recombination of the two companies that split more than 10 years ago, multiple insiders told the publication.

The move would be of a piece with strategy across the content industry: get big or get out.

Redstone is said to be actively moving in the direction of combining the companies, and insiders say a previously resistant CBS chief Les Moonves is now open to the idea.