After a long negotiation process and having announced a merger agreement last August, CBS and Viacom now plan to merge as soon as ‘early December’. The two companies, which will be known as BiacomCBS Inc. once the deal is complete, said the pact had secured the approval of National Amusements Inc., that holds the majority of stock both from Viacom and CBS.
ViacomCBS portfolio includes brands like CBS, Showtime, Nickelodeon, MTV, BET, Comedy Central, and Paramount Network, a well as a more than 750 series, 3,600 movies and 140 thousand episodes catalog.
The new company will be leaded by Bob Bakish, which is now CEO at Viacom. Both companies had operated together between 2000 and 2006, when they were separated and, since then, especially in recent years, intentions to merge them again have been resumed.