Sumner Redstone and daughter pull CBS, Viacom merger plan

By Jessica Toonkel and Greg Roumeliotis NEW YORK (Reuters) - Media mogul Sumner Redstone and his daughter Shari called off their failed effort to merge CBS Corp and Viacom Inc on Monday, sending shares of Viacom - widely viewed as the weaker company - down more than 7 percent. Les Moonves, the longtime chief executive of CBS, said last week talks were still stuck in the early stages, more than two months after the Redstones asked the boards of both companies to explore a tie-up. The two sides ne