CBS (CBS) is holding talks with Time Warner (TWX) unit CNN about merging news operations, the New York Post reports. The piece said the talks were initiated by CBS President Les Moonves, when it became apparent that the network would need to cut more than the 100 staffers who were axed in January.
Disney (DIS) unit ABC recently cut 25% of its news staff, resulting in the loss of nearly 400 jobs.
The story said the combination would not include 60 Minutes.
On a post-earnings conference call with investors today, Time Warner CEO Jeff Bewkes said the company has talked to other news organizations about potential partnerships, but he didn’t comment specifically on the reports involving CBS.
Meanwhile, CBS is due to report earnings after the close.
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