ViacomCBS' Shari Redstone reportedly plots Fox News rival network and has met with Megyn Kelly

Fox News could soon have some new competition on its hands.

Shari Redstone, vice chair of CBS and Viacom, is "quietly exploring a plan to launch a conservative TV outlet meant to square off with the Fox News Channel," The Hollywood Reporter wrote Tuesday.

Amid this exploration, the Reporter reports Redstone has been speaking with current and former Fox News personalities, including Megyn Kelly, who departed Fox in January 2017 to join NBC News, where her show was later canceled; Kelly will return to Fox with an interview on Tucker Carlson Tonight Wednesday. Redstone has also met with President Trump in the White House in recent weeks.

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A spokesperson for Redstone denied the report, and a spokesperson for Viacom did as well. Redstone's spokesperson did, however, confirm she met with Trump.

An existing Viacom channel could be potentially be rebranded into this conservative network, the Reporter says, though further details about the reported plan are unclear. This is all coming as Trump continues to rail against his once beloved Fox News, telling his supporters in August, "we have to start looking for a new News Outlet."

Amid these complaints, the Reporter writes that "Redstone sees an opening as the audience for TV news grows older and more conservative and Trump and some of his fans express disenchantment with ratings giant Fox News." Redstone reportedly sees Fox as having "gone crazy."