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CBS and Viacom reach merger deal, ending years of discussions

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CBS and Viacom agreed to merge yesterday, ending years of on-and-off talks.

stepped down as chairman and CEO amid sexual misconduct allegations. Discussions have dragged on throughout the year as the new CBS board has become more comfortable with the idea of merging with Viacom rather than pursuing other paths.

Ianniello replaced Moonves as CEO last year and will stay at the combined company in a role where he can help shepherd the integration of CBS assets. Keeping Ianniello and naming current CBS Chief Financial Officer Christina Spade the CFO of the combined company may help assuage CBS investors that Viacom won't have undue say over the future of the company, sources familiar with the situation said. The CBS board has been concerned with potential shareholder lawsuits about buying Viacom and

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CBS and Viacom merge to form $30 billion media companyWith streaming video now the leading story, the two companies are fusing their war chests to better compete for viewers. Yay!! Bigger Better B-S!! God I hope I don’t have to see BBT on Comedy Central, I’ll die. It's basically a 2nd marriage.
Source: NBCNews - 🏆 10. / 86 Read more »