at CBS, conveyed the news to their troops without sugarcoating the “challenges” of uniting two large organizations.
This merger comes with a lot of expectation, but it also comes with what I believe is a rare and exciting opportunity. Together, we have the opportunity to be one of the few companies positioned to shape the future of the entertainment industry. I’m honored to say that I will be leading the combined company as President and CEO. Christa D’Alimonte will serve as EVP, General Counsel and Secretary. Christina Spade, who is currently EVP and CFO of CBS, will serve as EVP and CFO of the combined company. Joe Ianniello – currently President and Acting CEO of CBS – will serve as Chairman and CEO of CBS, overseeing the CBS-branded assets.
One change we already know will happen is that Wade Davis will depart in connection with the closing of the transaction, as we’ve determined there isn’t a senior operating role at the corporate level of the merged company that would be consistent with the full breadth of his experience, expertise and the scope of his current role at Viacom.
We are merging at a time when the possibilities for premium content companies are greater than ever. Viacom owns terrific brands – Paramount, Nickelodeon, BET, MTV, Comedy Central and many others – that will complement ours and offer innovative ways to reach a whole new set of viewers. You can read more about the benefits of the deal in this press release.
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