Viacom, CBS move towards merger talks

Both companies establish special committees to study merger
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Viacom and CBS have announced both of their boards of directors have established special committees to study combining the two companies.

National Amusements, the parent company of both, released a statement saying it “supports the processes announced by CBS and Viacom to evaluate a combination of the two companies, which we believe has the potential to drive significant, long-term shareholder value”.

Reports of a possible merger of the two companies first began mid-January.

Viacom's European operations include MTV, Nickelodeon, Comedy Central, Spike and the UK's Channel 5.