CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – Update

’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their merger negotiations.

Sources familiar with the talks say a deal is likely to be announced this week, though they cautioned that it would still be possible for negotiations to end without a final resolution. This is the third round of formal merger discussions since 2016.Viacom, whose stock closed at $28.53 Monday, has a market value of about $12 billion. CBS, which finished the day at $47.91, has a value in the $18 billion range.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CBS and Viacom Boards Haggle Over Price as Merger Talks AccelerateBoard members of CBS and Viacom worked most of the weekend in an effort to reach a long-awaited merger agreement for the two halves of the Redstone media empire. Sources close to the situation said…
Source: Variety - 🏆 108. / 63 Read more »

Jim Gianopulos Inks Multi-Year Deal As Paramount Boss Prior To CBS-Viacom MergerBREAKING: Ahead of the CBS-Viacom merger, Viacom has re-upped Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract. In addition, Paramount’s current production president…
Source: DEADLINE - 🏆 109. / 63 Read more »