National Amusements, the movie theater chain founded by the Redstone family 
that holds the controlling stock of CBS and Viacom, has called for the two 
companies to re-merge after ten years apart, responding to the recent woes 
of Viacom as its once-mighty cable networks face cord cutters and Paramount 
Pictures is seemingly being offered to buyers--there would seem to be hope 
that Les Moonves would run the merged company, although Moonves has 
indicated he has no interest in trying to prop up Viacom:

http://www.reuters.com/article/us-viacom-m-a-cbs-corp-idUSKCN11Y258

Ironically, ten years ago it was thought that Viacom was the stronger 
company and that CBS, with its old-line radio and TV operations, the 
Showtime premium channel and Simon & Schuster publishing, was the weaker 
one.

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