Media giants CBS Corp. (CBS) - Get Report and Viacom Inc. (VIAB) - Get Report (VIA) - Get Report have resumed merger talks, but picking a CEO to run the company is a sticking point, The New York Post reports.
The negotiations restarted a day after Viacom settled a contract dispute with AT&T Inc. (T) - Get Report , agreeing to continue airing Viacom's shows, avoiding a service interruption to subsidiary DirecTV and its 20 million consumers.
New York-based Viacom owns BET, MTV, Comedy Central and Nickelodeon among other networks.
"We are pleased to announce a renewed Viacom-AT&T contract that includes continued carriage of Viacom services across multiple AT&T platforms and products," the companies said in a joint statement. "The deal also brings AT&T customers more choice and improved value for Viacom content."
Settling those billion-dollar carriage contracts placed Viacom on CBS's target list, according to the report.
CBS declined to comment to the New York Post, which said that CBS and its board are expected to approach Viacom with an offer in the next few weeks.
CBS was trading up 5.53% on Tuesday around noon to $48.03; Viacom saw its class B shares up 10.62% to $29.10 and its class A shares up 6.57% to $34.96.
Will You Have Enough Money Retire?
Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.