Hello, ViacomCBS: Merger Completed, Viacom And CBS Reunite

Back Together

CBS CORPORATION and VIACOM have closed on their merger in an all-stock $12 billion deal that reunites the sibling companies as VIACOMCBS. The merged entity will trade on NASDAQ under symbols VIAC (Class B) and VIACA (Class A) starting TOMORROW (12/5); the company is currently valued at around $25 billion. Under the merger terms, VIACOM CEO BOB BAKISH will be President/CEO of the company; SHARI REDSTONE will serve as Non-Exec. Chair of the Board of Directors.

BAKISH said, “This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers. Through the combination of CBS’s and VIACOM’s complementary assets, capabilities and talented teams, VIACOMCBS will create and deliver premium content for its own platforms and for others, while providing innovative solutions for advertisers and distributors globally. I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees, while generating significant long-term value for our shareholders.”

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