This ad will be closed automatically in X seconds.

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.

Want to read more news like this? Simply sign up to our daily digest in the box below. You can also follow @LicensingSource on Twitter.

MORE NEWS
RisingStars2019500x500
 
Six young professionals make shortlist for 2019 accolade, to be presented at The Licensing Awards....
MBStarWars500x500
 
Beauty specialist launches collection of Star Wars-inspired sheet face masks....
TBakerstore500x500
 
Current childrenswear relationship with Debenhams will end in February 2020....
IconStoryNYC500x500
 
Fast growing company secures deal with NYC & Company....
Jardinopia500x500
 
Wallace & Gromit and Shaun the Sheep join company's Potty Feet family....
VHCWisley500x500
 
Brand collaboration at RHS gardens and flower shows attracting big crowds....
Get the latest news sent to your inbox
Subscribe to our daily newsletter