I’m writing today to share some big news. We just announced an agreement to merge with CBS, bringing together our two great companies to create a leading global, multiplatform, premium content powerhouse.
Our combined company – which will be called ViacomCBS – will have a library of content with incredible breadth and depth, and a reinforced capability to produce premium and popular content at scale. We’ll have greater reach, strengthening our position with advertising and distribution partners. We will have an extended portfolio of direct-to-consumer products — both ad-supported and subscription-based — that will accelerate our growth.
Combining our companies will be a joint effort. Over time, we expect there will be opportunities to bring our teams together with our peers at CBS, so we can begin identifying ways to work together and learn from each other. 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.
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