CBS and Viacom have for over a year now been in on and off talks to once again merge. A few weeks ago it was reported that CBS and Viacom would continue talks in June 2019. Now according to new reports, CBS board will meet this Friday to talk about the merger with Viacom.
The two companies use to be one but broke up into two companies in 2006, at the request of both boards. It is important to remember that both Viacom and CBS have the same controlling family: the Redstone family. Talks broke down last year but since that happened CBS Chief has left and six board members have been replaced.
Now sources say that Viacom’s CEO Robert Bakish is likely to be the next chief executive of the combined company over CBS chief Joe Ianniello. Reports are that Robert Bakish has a strong relationship with National Amusements president Shari Redstone, who is running the company for her ailing father, Sumner Redstone and is the majority owner of both CBS and Viacom.
Last year it was reported that a possible all-stock deal was in place for the merger but it looks like the question of who will have what rules after the merger held it up. As of today, the deal is not official, but with this report, it makes the possibility of a merger once again a possibility.
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