CBS and Viacom have for over a year now been in on and off talks to once again merge. Now it has been reported by CNBC that CBS and Viacom have agreed to a leadership deal to make Viacom’s CEO the new leader of a combined company. This deal will need to go through a lengthy approval process before the merger can be finalized.
BREAKING: CBS, Viacom reach deal on combined company’s leadership, with Viacom CEO Bakish becoming overall CEO and CBS finance chief Spade becoming CFO of merged company – Dow Joneshttps://t.co/jn8limUSe7
— CNBC Now (@CNBCnow) August 2, 2019
The two companies use to be one but broke up into two companies in 2006, at the request of both boards. Both companies still have the same majority owner but have grown apart over the years. Last year talks broke down reportedly over who would lead the new company. Since that happened, CBS Chief has left, and six board members have been replaced. Now a deal seems to be agreed to.
This is breaking news more coming soon.
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