CBS Corp. Suspended its search for a new chief executive officer and said acting CEO Joseph Ianniello agreed to stay on through the end of the year.
“Joe has demonstrated exceptional leadership during this time of unprecedented transition at CBS,” the broadcaster said in a statement Tuesday.
Ianniello’s tenure has been marked by speculation the company would combine with Viacom Inc., years after they were split apart. Both companies are controlled by the Redstone family, which has voiced on-again, off-again interest in merging the companies. Ianniello took over after longtime chief Les Moonves was ousted over allegations of sexual misconduct in September.
CBS was little changed in extended trading. Viacom rose almost 1 percent.
