Cable giant Shari Redstone reportedly eyeing possible conservative news outlet to rival Fox

Sources familiar with the pending merger of CBS and Viacom have said that majority owner Shari Redstone is eyeing a possible channel dedicated to conservative news, a move that could mean a ratings challenger for Fox News.

Insiders believe that Redstone is possibly planning to launch such a venture on the recently acquired "Pluto" channel, which Viacom purchased in March for $340 million. Redstone is also said to have attended several meetings about the potential for a conservative news network and has had talks with several prominent media figures that...