Viacom Inc (VIAB.O) said it had hired financial advisers as part of its review of a proposal by National Amusements Inc to explore a merger with CBS Corp (CBS.N).
Morgan Stanley (MS.N), Allen & Co and LionTree LLC were retained as advisers by the special committee of its board, Viacom said on Friday.
Reuters reported last month that Viacom had hired Morgan Stanley and LionTree LLC to review its capital structure.
National Amusements, owned by media baron Sumner Redstone and his daughter Shari Redstone, is the majority shareholder of Viacom and CBS.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)