NEW YORK (CNN/Money) -
Viacom President Mel Karmazin has his eye on CNN, a trade paper reported.
Broadcasting & Cable said Karmazin told a small group of executives at the Association of National Advertisers Wednesday that he approached AOL Time Warner Inc. (AOL: down $0.30 to $15.88, Research, Estimates) last week with an offer to buy the news network, which he sees as a cable counterpart for Viacom's CBS.
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The paper notes that CBS and CNN have held talks about forming a joint-venture to share news gathering costs in the past, but this is the first time there has been talks of an acquisition.
Karmazin also told the group that his offer was rebuffed, the paper said.
"There are no talks going on, and CNN is not for sale," said Ed Adler, a spokesman for AOL Time Warner, which is also the parent company of CNN/Money. "These types of stories just stir up issues that don't exist."
Viacom (VIA: down $1.58 to $44.99, Research, Estimates) officials have not released any official comments.
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