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Fly News Breaks for June 23, 2016
VIAB, CBS
Jun 23, 2016 | 07:14 EDT
Wells Fargo says that the chances of CBS (CBS) and Viacom (VIAB) merging are "remote." The firm says that, in the current rapidly changing broadcast environment, CBS CEO Les Moonves will not want to take the time to deal with Viacom. The firm adds that the combination of CBS and Viacom would not grow faster than CBS alone. It keeps an Outperform rating on CBS and a Market Perform rating on Viacom.
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