Redstone: No plans to take CBS, Viacom private: CNBC

NEW YORK (Reuters) - Sumner Redstone, executive chairman of media companies CBS Corp. and Viacom Inc., said in a television interview on Wednesday he has no plans to take the companies private, dispelling Wall Street speculation.

There have been press reports that CBS could be a buyout target, partly fueled by private equity firms' appetite for large media deals in recent months, such as the pending $19.6 billion buyout of Clear Channel Communications Inc.

Redstone controls Viacom and CBS through his privately held National Amusements Inc.

"That has been suggested to me and Philippe and to Les," Redstone said on CNBC, in response to a reporter's question about taking the companies private. "At the present time, we really like the companies the way they are."

Philippe Dauman is chief executive of Viacom, while Leslie Moonves is the CEO of CBS.

Redstone added, "Could we someday consider other alternatives? Yes, but it's not on the horizon."

He declined to directly address Viacom's $1 billion lawsuit against Google Inc., alleging copyright infringement, but spoke hypothetically about the nature of such charges and why companies strike partnerships.

"Getting paid is the name of the game," he said about CBS's deal with YouTube. "CBS got paid, and they got paid by the advertiser, not by Google."

Redstone, 84, who said he hated the term "mogul" and who joked that he preferred "king or emperor," answered questions on succession plans.