Shares of Viacom Inc. (VIAB) and CBS Corp. (CBS) are rising in Tuesday's market, following a report earlier in the day that the two are close to resuming merger talk.

The New York Post, citing sources, said the two companies are expected to renew their discussions of a merger, and decide who will act as chief executive of the combined company.

Viacom also reaffirmed revenue guidance earlier in the day.

At 3:40 p.m. ET, Viacom's Class B shares had risen 6.99% to $28.16. Volume was heavy, with more than 12.6 million shares trading, above the stock's 65-day average volume of some 4.5 million. Viacom Class A shares were up 6.88% at $34.95.

CBS Class B shares gained 3.75% to $47.23, and their Class A shares gained 3.74% to $47.65.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 26, 2019 16:02 ET (20:02 GMT)

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