CBS and Viacom have agreed to become ViacomCBS, as part of a deal to reunite the media companies after 13 years (CBS, VIA, VIAB)
|08/13/2019||Posted by BusinessMediaguide.Com under General World News||
- CBS and Viacom reached a deal on Tuesday to reunite the two companies after 13 years apart.
- The proposed deal, if completed, would create a media giant called ViacomCBS, Inc. with roughly $28 billion in revenue.
- Viacom CEO Bob Bakish would lead the combined company as president and CEO, and current CBS CEO Joe Ianniello would serve as CBS’ chairman and CEO.
- Shares of CBS and Viacom were flat during afternoon trading, when the deal was announced. The market previously reacted to reports that a deal announcement was imminent.
- Visit Business Insider’s homepage for more stories.
CBS and Viacom struck an all-stock read more >>>