National Amusements pulls CBS, Viacom merger proposal

By Jessica Toonkel and Greg Roumeliotis NEW YORK (Reuters) - Sumner Redstone's National Amusements said Monday it has stopped pushing its media properties CBS and Viacom to merge, citing progress by Viacom's new leadership, in place only a few weeks. Shares of Viacom tumbled 6.9 percent. CBS shares rose 1.8 percent, touching a nearly 2-1/2 year high after CNBC cited a report that Verizon Communications Inc was interested in buying the company.