Viacom Surges After Reports it's in Talks to Merge with CBS
- Shares of media conglomerate Viacom spiked as much as 12% just before the closing bell Friday after TheWrap reported it was in talks to merge with CBS. The stock closed up 7%.
- The news website said CBS chairman Les Moonves is now open to the consolidation, reversing his previous stance, citing three individuals with knowledge of the talks.
- Viacom was formed in 2005 out of a split from the previous iteration of the company, with the predecessor re-branded as the CBS Corporation...