You will be redirected back to your article in seconds

N.Y. Times: Redstone reluctant

NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported.

The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has no structure for a new bid.

No Viacom official was immediately available for comment at the company’s New York office late Tuesday.

Friday is the deadline for tendering shares under competing bids by Viacom and QVC, the home shopping cable television company, for the entertainment giant.

The unidentified person quoted by the Times said several of Viacom’s top execs have also opposed a merger because they feel it could deprive their operations of capital for expansion. Yet the paper’s source didn’t rule out the chance that Viacom might still put together a new offer.

More Biz

  • Doug Morris

    Doug Morris to Exit Sony Music at the End of March

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • Oprah Responds to Trump Tweet Claiming

    Oprah Responds to Trump's Tweet Claiming Bias in '60 Minutes' Segment

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • Music Theatre International

    Drew Cohen Named Global CEO of Music Theatre International

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • 'Daily Show's' Michelle Wolf to Host

    'Daily Show' Contributor Michelle Wolf to Host White House Correspondents' Dinner

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • Harvey Weinstein ousted

    Weinstein Co. Sued by Lindt Chocolatier Over Canceled Golden Globes Party

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After Three-Hour Meeting With Attorney General

    NEW YORK — Viacom Inc.’s chairman Sumner Redstone, with three days left to raise his bid against QVC Network Inc. in the battle for Paramount Communications Inc., is leaning against going forward, the New York Times reported. The newspaper, quoting a person close to Viacom, said in its early Wednesday edition that Viacom still has […]

More From Our Brands

Access exclusive content