CBS-Viacom Merger ‘Highly Unlikely; Value Destructive’

Barron’s: Wells Fargo Securities: “We don’t foresee a merger between CBS and Viacom. If you had asked us about CBS and Viacom getting back together six months ago, we would have said ‘0% chance.’ Clearly things have changed; and while we can no longer say ‘0%’ with the same level of confidence, we do think the possibility is remote.”