Are CBS, Viacom Nearing a Media Reunion?

The University of Michigan Consumer Confidence Index reached an 8-year high, benefiting retailers as gas prices dropped and job growth increased. Despite this, stocks like the S&P 500 and Dow Jones fell by 1%. The Senate is debating a $1.1 trillion spending bill, facing opposition from both parties, with a deadline to avoid a government shutdown. Oil prices are under pressure due to weak demand and strong supply, affecting economies of oil-producing countries. Time Warner's Jeff Bukas speculated on potential media mergers, including CBS and Viacom, which could reunite after splitting in 2006.

How is the current state of oil prices affecting economies of producing countries?

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What speculation did Time Warner Chief Jeff Bukas make about media companies?

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