CBS (CBS) has submitted a takeover bid for Viacom (VIAB) which is below the company’s current market value, CNBC’s David Faber reports, citing sources. The special committee of CBS wants Les Moonves and Joe Ianniello to lead the combined company, which could become a “key stumbling block,” Faber adds. Shares of Viacom closed the trading day down $1.13 to $29.42. CBS rose $2.15 to $52.86.