CBS and Viacom to reunite in an all-stock merger

Posted by Aktis Team on 13 August 2019

Sister companies under the control of Redstone family, Viacom and CBS, will reunite as ViacomCBS after 14 years apart. The combined group will be lead by CEO Bob Bakish, a longtime Viacom executive, and chaired by Shari Redstone, heir to the Redstone family business. In light of the megamergers of Disney with Fox and AT&T with Time Warner, the combination of CBS and Viacom is viewed as a logical move to maintain competitiveness in the entertainment industry.

The Financial Times, Anna Nicolaou and James Fontanella-Khan, 13th August 2019

Topics: News Watch, North America