CBS-Viacom merger may be closer to reality, thanks to Redstones and National Amusements

The oft-foretold reunification of CBS Corp. and Viacom Inc. may be moving closer to reality. National Amusements Inc., the theater chain operator and investment vehicle of media mogul Sumner Redstone, is preparing to call on the two companies to consider merging, two people close to the matter said Wednesday. National Amusements, which controls 80% of the voting shares of Viacom and CBS, is preparing a letter to send to the two companies' boards this week, according to the two people, who declined to be named because the proposal is private. Analysts have long expected the Redstone family to try to put CBS and Viacom back together again. Since the two media giants split in 2006, CBS and Viacom have followed starkly different trajectories, with CBS building a broadcast ratings juggernaut while Viacom's stock fell sharply.