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CBS and Viacom merger inches closer say reports

Combined company is expected to be named Viacom, according to reports.

Internet reports are suggesting today that CBS and Viacom are in the final stages of an all-stock merger.

The New York Post has reported that the two companies – which are both majority owned by Sumner Redstone’s National Amusements Inc. holding company – have agreed on a range of 0.59 to 0.60 of each CBS share for each Viacom class B share.

This would value Viacom at slightly below its $12 billion market value from last Friday.

In addition, despite being the larger of the two companies, CBS – which has a market valuation of $18.5 billion – the combined company is expected to be called Viacom.

If the deal is completed it would bring under one roof Viacom’s Nickelodeon and MTV channels, the Paramount film and TV studio and the CBS broadcast network.

The aim is to create a media company which is best placed to compete with the likes of Netflix and Amazon.

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