Sumner Redstone's National Amusements, the majority shareholder of CBS Corp (CBS.N) and Viacom Inc (VIAB.O), on Thursday proposed a merger of the two and said it would not support the acquisition of either media company by a third party.Privately held National Amusements said in a letter to both companies' boards that a merger would bring significant savings, but it would not support a transaction that would cause it to surrender control of CBS, Viacom or a combined entity.

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