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CBS risks losing CEO Moonves should merger with Viacom proceed, report says

Executive unhappy with Redstone's plan to make Viacom CEO his deputy
CBS studio
Moonves's objections may kill deal altogether

CBS Corp. (NYSE:CBS) risks losing Chief Executive Officer Les Moonves should the planned tie-up with Viacom Inc. (NASDAQ:VIA) proceed, Reuters reported, citing people familiar with the matter.

Moonves is balking at Shari Redstone’s insistence that Viacom CEO Bob Bakis become his deputy and likely successor, the people said, according to the report. His objections to the move may either kill the transaction altogether or mean he would leave once the group merged, it said. The Redstone family owns about 80 of both companies.

Redstone wants Moonves to remain as head of the combined entities, Reuters said, while she may decide to conclude the deal regardless of whether he quits, it added.

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