Today CBS and Viacom announced that they have received permission to merge the majority of their shareholders. There are still other regulatory approves needed, but the approval of their shareholders is a significant step forward.
According to a press release sent to Cord Cutters News, CBS and Viacom hope to have their merger completed in December of 2019 thanks to the SEC approval, and the new company will be called ViacomCBS Inc. According to reports, CBS and Viacom have agreed to a leadership deal to make Viacom’s CEO the new leader of a combined company. CBS’s current CFO will take over as CFO for the new company. Now, this is far from a done deal as regulatory approval is still needed before the merger can be completed.
A combined CBS and Viacom is a massive streaming giant. With a combined streaming lineup of CBS All Access, Showtime, Pluto TV, BET+, and more on the way. Add in the fact that CBS and Viacom own some of the most popular channels on TV, and the combined company will have a huge say about the future of cord cutting.
Cord Cutters News will be watching the CBS and Viacom merger in the weeks to come. We will post updates as we learn more about the merger and how it will impact cord cutting.
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