Ron Burgundy Posted December 12, 2016 Share Posted December 12, 2016 By Jessica Toonkel and Greg Roumeliotis NEW YORK (Reuters) - Media mogul Sumner Redstone and his daughter Shari called off their failed effort to merge CBS Corp and Viacom Inc on Monday, sending shares of Viacom - widely viewed as the weaker company - down almost 8 percent. Les Moonves, the longtime chief executive of CBS, said last week talks were still stuck in the early stages, more than two months after the Redstones asked the boards of both companies to explore a tie-up. The two sides never entered talks on pricing and were far apart on Viacom's value, according to two sources familiar with the situation. View the full article Quote Link to comment Share on other sites More sharing options...
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