CBS and Viacom have for over a year now been in on and off talks to once again merge. Now Fox Business is reporting that CBS and Viacom plan to announce a merger on Monday. (Always remember these things have a way of being delayed at the last minute. This would mean the two companies would once again be a single company after breaking up back in 2006.
SCOOP: Boards of @CBS @Viacom working on a MONDAY announcement for merger, according to sources close to matter. BUT sources say timing could slip as it often does w such deals, though both cos want this over to go on vacation. Shld know by Sunday night, they say. $VIAB $CBS
— Charles Gasparino (@CGasparino) August 9, 2019
One of the main holdups was who would lead the new company but when it was announced that a deal was reached on leadership many thought the merger was all but done. According to CNBC CBS and Viacom had agreed to a leadership deal to make Viacom’s CEO the new leader of a combined company. Now CNBC is reporting that more time is needed to work out the final details of the merger resulting in the August 8th deadline being pushed back.
A combined CBS and Viacom would be 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.
This is breaking news more coming soon. Check back often for more updates.
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