1 Reason CBS Could Be Spiking

Shares of CBS Corporation CBS surged over 2 percent Thursday amid speculation at The Information, a technology news site.

Contributor Martin Peers suggested that John Malone, Chairman of Liberty Media Corp LMCA, could acquire CBS to create a media conglomerate that would compete with Twenty-First Century Fox Inc FOX and Walt Disney Co DIS.

Related Link: 5 Growth Levers Seen For CBS

Peers felt that consolidation in the industry was "increasingly inevitable" and a deal would make sense for Malone as he could combine CBS with entities in which he holds a stake, such as Starz STRZA and Discovery Communications Inc. DISCA.

CBS Corporation recently traded at $61.00, up 2.31 percent.