CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redsto...
It will combine the CBS television network, CBS News, Showtime cable networks with MTV Networks, Nickelodeon, Comedy Central and the Paramount movie studios. Together, they will own more than 140,000 TV episodes and more than 3,600 film titles. Annually, it is estimated to generate about $28 billion in revenue.
The third attempt at a merger since 2016, this is a decisive win for Shari Redstone, whose father built the companies through a series of mergers and then broke them apart more than a decade ago. Viacom Chief Executive Bob Bakish will be the president and CEO of the combined company. Joe Ianniello, interim CEO of CBS, will be named chairman and CEO of CBS, which will exclude the Showtime cable network and book publisher Simon & Schuster.
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