1 Reason CBS Could Be Spiking
Shares of CBS Corporation (NYSE: CBS) surged over 2 percent Thursday amid speculation at The Information, a technology news site.
Contributor Martin Peers suggested that John Malone, Chairman of Liberty Media Corp (NASDAQ: LMCA), could acquire CBS to create a media conglomerate that would compete with Twenty-First Century Fox Inc (NASDAQ: FOX) and Walt Disney Co (NYSE: DIS).
Peers felt that consolidation in the industry was "increasingly inevitable" and a deal would make sense for Malone as he could combine CBS with entities in which he holds a stake, such as Starz (NASDAQ: STRZA) and Discovery Communications Inc. (NASDAQ: DISCA).
CBS Corporation recently traded at $61.00, up 2.31 percent.
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Posted-In: John Malone Martin Peers The InformationNews Rumors Movers
