CBS and Viacom have for over a year now been in on and off talks to once again merge according to a report from Fox Business. 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 NBC is reporting that CBS board is meeting to discuss what offer they want to make Viacom for a merger. NBC says that a merger with Viacom is the number one priority for several CBS board members. NBC’s source did make it clear though that a deal is not guaranteed at this time.
This push to make media companies like Viacom and CBS larger is not just about cord cutting. There is a growing number of content providers such as Netflix, Disney+, Hulu, and Amazon creating original programs enjoyed by cord cutters and cable subscribers alike. To help fight back from a shrinking viewership content companies are hoping to grow their footprint through mergers like this one.
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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