As reported by the financial media CNBC, Viacom and CBS would have set August 8th as the deadline to reach a merger agreement. That same day, according to the publication, the companies will present their financial results.
The price of the transaction was not revealed and, according to CNBC, ‘it will not be addressed until all strategic and management issues are solved, according to people familiar with the matter’.
In 2018, CBS presented an offer to buy Viacom, which was rejected. According to what took place that time, CBS had offered a purchase proposal in exchange for shares that did not reach Viacom market value. The media also reported that, in case the merger between both companies is completed, Bob Bakish, current CEO at Viacom, will be in charge of the new company.