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CBS and Viacom agree to sign $30 billion merger deal

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Top 10 most slapped recently  1 month ago '09        #4
That Guy Fly  21 heat pts21
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Thought CBS already owned Viacom
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 1 month ago '12        #3
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iamsweets  49 heat pts49
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CBS and Viacom agree to sign $30 billion merger deal
 

 
CBS and Viacom have reached a long-rumored merger agreement. The two companies announced today that they will reunite as ViacomCBS. According to The Wall Street Journal, CBS and Viacom hope that, together, they'll be better positioned to f*ght against cable TV competition and streaming services.

If it goes through, the all-stock deal will bring together Viacom's MTV, Nickelodeon and Comedy Central, as well as its Paramount film and TV studio, and CBS's broadcast network and Showtime premium network. The combined CBS and Viacom would be valued at roughly $30 billion, and Viacom shareholders would receive 0.59625 CBS shares for each share they own.

Bob Bakish, Viakom's current chief executive, would likely become CEO of the merged companies, and CBS Acting Chief Executive Joe Ianniello is expected to run CBS-branded a*sets. Shari Redstone, who controls both CBS and Viacom along with her father through National Amusements Inc., is positioned to become chairman of the board for the combined companies.

The merger is far from a surprise. The media giants originally split in 2006, but rumors that the companies might reunite began circulating by 2016, and they've continued over the years. While today's agreement is significant, it's too soon to say for sure if the deal will go through.
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 1 month ago '04        #2
biggsteel  30 heat pts30
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 That Guy Fly said
Thought CBS already owned Viacom
Ok Iím not tripping then. I swear I thought the same thing. I even remember seeing shows like Dexter on CBS, heavily cut though
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