CBS, Redstone Peace Talks Are Said to Halt Push for Viacom Deal

CBS Corp. and controlling shareholder National Amusements Inc., embroiled in one of the media industry’s most bitter public disputes, may be nearing an end to their feud before it goes to trial next month.

The two companies are weighing a resolution that would take a CBS merger with Viacom Inc. off the table, said people familiar with the situation. Under the potential agreement, NAI President Shari Redstone would be able to appoint new directors to CBS’s board, said the people, who asked not to be identified because the deliberations are private.

Redstone would also pledge not to pursue a merger ...