
In the media business, it’s the headline that counts. So it’s little wonder Viacom rejected a takeover offer from CBS, according to Reuters, that looks at first glance like less than the market price. As it happens, Chief Executive Leslie Moonves can easily cough up more thanks to the potential cost savings, while leaving something for his own shareholders.The first thing to know is that the two companies are a natural pair. CBS, which owns its namesake national broadcast station and pay-TV network Showtime, and Viacom, home to MTV, Comedy Central and Paramount Pictures, were formerly a single group. The