NEW YORK, Sept. 29, 2016 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced that its board of directors has received a letter from National Amusements requesting that the company consider a potential combination of CBS and Viacom. National Amusements, directly and through subsidiaries, owns approximately 80% of the voting shares of both CBS and Viacom.
CBS is in receipt of the letter, and the Company will take appropriate action to evaluate what is in the best interest of CBS Corporation and its shareholders.
Certain statements in this release, including those relating to the letter from National Amusements contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, without limitation: risks related to the Company's businesses; capital market risks; the impact of general economic or industry conditions; and other factors described in the Company's filings with the Securities and Exchange Commission including but not limited to the Company's most recent Form 10-K, Form 10-Qs and Form 8-Ks. There can be no assurance that any potential transaction referred to herein will be entered into, the terms of any such transaction and whether if entered into any such transaction will be consummated. We intend these forward-looking statements to speak only as of the time of this release and do not undertake any obligation to update any forward-looking statements contained in this release as a result of new information or future events or developments.
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand — "the Eye" — one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, and interactive and socially responsible media. CBS's businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS Films, Showtime Networks, CBS Sports Network, Pop (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia. For more information, go to www.cbscorporation.com.
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SOURCE CBS Corporation