Redstone's National Amusements Reportedly To Urge Viacom, CBS To Consider Merger

(RTTNews) - Sumner Redstone's National Amusements Inc plans to urge the boards of companies it controls— Viacom Inc. and CBS Corp. (CBS) — to explore a merger. It plans to send its message in a letter delivered before the market opens Thursday, according to reports citing people familiar with the matter.

National Amusements is the controlling shareholder of both Viacom and CBS, which separated from each other 10 years ago.

Mr. Redstone, who is 93 years old and in ill health, remains on the board of National Amusements, though he stepped down from his role as chairman of both CBS and Viacom earlier this year amid questions about his mental capacity.