Viacom And CBS Agree To Merge In $30B Deal
Viacom Chief Executive Bob Backish is to oversee the new company, to be called ViacomCBS. The new chairwoman of the combined company is to be Shari Redstone, president of National Amusements.
The corporate boards of Viacom and CBS agreed to merge in an all-stock deal Tuesday, reuniting the Redstone family's entertainment holdings after a series of legal battles and corporate intrigues.
The move is intended to enable the blended company valued at about $30 billion to fight off bulked-up competitors and a new threat from digital rivals with well-financed streaming services.
Viacom Chief Executive Bob Bakish is to oversee the new
