REDSTONE SPELLS IT OUT — HE’LL N-E-V-E-R SELL CBS OR VIACOM

Sumner Redstone, whose National Amusements holding company controls CBS and Viacom, reiterated on Wednesday that he has no plans to sell either company. In fact, addressing shareholders in New York, Redstone spelled it out: “I’ve said from the beginning I will never, N-E-V-E-R, sell Viacom and CBS,” he said. Redstone’s remark was prompted by a shareholder’s question about an item that appeared in the New York Post on May 24 saying that CBS and ABC may be put up for sale by their respective conglomerate owners. Redstone called the report untrue. Also addressing the meeting was CBS chief Les Moonves who was asked about reports that the network’s news division may soon link up with CNN. Moonves insisted that no such deal is currently in the works.