Chris-Craft Stock Rises on Purchase Rumor

Shares of Chris-Craft Industries Inc. rose as much as 11% after a report that Viacom Inc., owner of CBS Corp., has renewed talks to buy the company’s TV station group. Chris-Craft jumped $5.88 to close at $67.81 and Viacom shares fell $1.69 to close at $64.06, both on the NYSE. . The Wall Street Journal reported the new talks Tuesday. Viacom declined to comment. Chris-Craft wasn’t immediately available. Chris-Craft’s 10 TV stations, which analysts and investors predict could fetch about $3.5 billion, would give Viacom, which is already the nation’s largest TV station owner, a valuable second outlet in such lucrative markets as New York, Chicago and Los Angeles. Talks between Viacom and Chris-Craft broke down earlier this year over price.