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CBS and Viacom Strike Deal for Long-Thwarted Merger

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  • News: 10%
  • Publisher: 63%

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CBS and Viacom have reached an agreement to merge, people familiar say, in a deal that will reunite Sumner Redstone’s media empire

CBS Corp. and Viacom Inc. agreed to merge, a deal the media companies hope will put them on stronger footing to compete with larger rivals in a business buffeted by cable TV cord-cutting and increasingly dominated by streaming.

The all-stock deal, if completed, will reunite the media empire of mogul Sumner Redstone, who had split up CBS and Viacom in 2006. It will create a major entertainment player valued at roughly $30 billion, combining Viacom properties such as MTV, Nickelodeon, Comedy Central and the Paramount film...

 

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Hooray, from 60+ media conglomerates to four in just fifty years! Soon we'll just have one and all our news can be tailored to our consumption habits, making life so much easier. WhoNeedsRealityWhenThereAreSoManyThingsToBuy

I know several CBS Executives that were pushed out because they were hired by Les. One worked there for 20 years, it's a disgrace what they did. The company literally pushed people out, gave them fake Development Deals for shows they'll never buy. A corporation built on revenge.

increased M&A activity is bearish right?

This should be illegal but whatever we’re living in a fantasy land with no rules at this point anyway

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