CBS-Viacom deal reportedly close to being finalized
FBN's Charlie Gasparino with the latest on the CBS-Viacom merger talks.
'The worst could be yet to come'... A blunt warning from the World Health Organization as the number of COVID-19 cases continues to soar. Seattle Police Officers Guild President Michael Solan tells Fox News the city is now close to becoming "a lawless state." With the lockdown going into its third month in some states, more evidence of nature returning to its pre-human state can be seen on beaches. Many swimming spots have been closed for months, and as they reopen, people are warned to be on the lookout for sharks. Animal Planet Wildlife Biologist Forrest Galante says that sharks coming closer to the beach is a natural consequence of human absence. In Miami Beach, aerial footage showed a carefree swimmer unaware he was being circled by sharks! U.S. fighter jets intercepted two sets of Russian bombers that flew close to Alaska, following a similar incident last week.
A Russian military aircraft came within 32 nautical miles of Alaskan shores, but remained in international airspace. abcn.ws/3fqPuwW
NEIL: ALL RIGHT. THE MEDIA STOCKS IN PLAY, CBS VIACOM, WHETHER SOMETHING HAPPENS ANYTIME SOON ANYONE'S GUESS BUT ONE GUY WHO WOULD KNOW IS CHARLIE GASPARINO. WHAT IS GOING ON? >> IT IS HAPPENING. I THINK IT WILL HAPPEN AFTER THE CLOSING BELL TODAY, MAYBE TOMORROW MORNING. SOMETIMES IT BLEEDS INTO THE NEXT DAY BECAUSE YOU GOT DONE WITH IT REALLY LATE TODAY, DOT THE Is, CROSS THE Ts. MANAGEMENT STRUCTURE, BOB BAKISH CEO, GUARANTEED. JOE IANNIELLO FROM CBS. HE WILL BE REPORTING TO BOB BAKISH. IT IS NOT AS MUCH -- THEY WANT TO KEEP HIM AT THE COMPANY BECAUSE HE DOES A GOOD JOB, LIKE OTHER UNIT HEADS HE WILL BE REPORTING TO BAKISH, EVEN THOUGH CBS WILL BE BIGGEST UNIT. NEIL: WHAT IS THE HANGUP? >> NORMAL DEAL STUFF. WE THINK IT HAPPENS OVERNIGHT. I HAVE BEEN THROUGH, THROUGH T-MOBILE, SPRINT LOOKS LIKE TO ABOUT TO HAPPEN A LITTLE THING HAPPENED HERE, YOU HAVE TO GO THROUGH THE WHOLE THING AGAIN, LAWYERS LOOK OVER EVERYTHING ELSE, BARRING THEM FINDING SOME SLUSH FUND INSIDE OF CBS, WHICH CAUSES, LIKE SOME SORT OF A HUGE PROBLEM, THIS THING IS GETTING DONE EITHER AFTER THE BELL TODAY, MY GUESS, OR, BEFORE THE OPENING BELL TOMORROW. AND IT WILL BE PRETTY BIG. SHARI REDSTONE WILL HAVE ACHIEVED WHAT SHE HAS BEEN TRYING FOR YEARS TO ACHIEVE. THAT IS MERGING TWO COMPANIES TOGETHER. PUTTING THE, REMEMBER, WHAT HAPPENED WAS, THEY WERE TOGETHER FOR YEARS, WHEN SUMNER HAD, WHEN SUMNER REDSTONE WAS PUTTING TOGETHER THE MEDIA EMPIRE. HE BROKE THEM APART IN 2006, BECAUSE DIFFERENT MEDIA LANDSCAPE. THEY WERE BOTH BIGGER COMPANIES AT THE TIME. NEIL: YEAH. >> THEY WERE BOTH MAJOR PLAYERS WITH, MAJOR MARKET CAPS IN MEDIA BUSINESS. SO YOU CAN SORT OF, YOU CAN EXTRACT SOME CAPITAL TO MAKE BOTH GROW, YOU KNOW, IN THAT ENVIRONMENT. SINCE THEN, AS WE KNOW, MEDIA HAS BECOME CONSOLIDATED. COSTS HAVE CHANGED. YOU NEED TO ACHIEVE ECONOMIES OF SCALE. PUT IDEAS PUT THEM TOGETHER. RESISTED BY CBS WHO THOUGHT VIACOM WAS SECOND RATE OUTFIT. LES MOONVES RESISTED. THIS WE WERE FIRST TO REPORT IN MARCH, WAS CLEAR LES WAS NOT GETTING CONTRACT EXTENDED. FOX BUSINESS BEAT "THE WALL STREET JOURNAL" EASILY ON EVERY MAJOR ASPECT OF THE STORY, THIS THING WAS HAPPENING. BOB BAKISH WOULD BE THE CEO. SHARI REDSTONE WOULD BE, SHE WOULD GET SOME ROLE IN THIS, WILL BE INTERESTING, VICE-CHAIR WOMAN. BAKISH GETS THE CEO ROLE BECAUSE HE IS VERY CLOSE WITH SHARI, EVERYTHING YOU SAY ABOUT VIACOM AS A PRODUCT HE HAS DONE A VERY GOOD JOB SINCE TAKING OVER. NEIL: THAT HELPS. >> TAKING OVER FOR DAUMAN IN 2016. PEOPLE HAVE BEEN REPORTING TO HIM. WE'LL SEE "AFTER THE BELL,"