According to Reuters, CBS Corporation (CBS) is interested in merging with Viacom (VIAB)

  • April 25, 2019

POTENTIAL DEAL DETAILS

Stock Viacom, Inc. Symbol VIAB
Date Announced 04/23/2019 Source Reuters
Type News Report
Date of Confirmation: 08/13/2019 Price at Confirmation: $29.21
Potential Profit: -0.24% Annualized Profit: -0.78%

CBS Corp (CBS) on Tuesday said it had suspended its search for a new chief executive and extended the role of its interim CEO Joseph Ianniello until the end of the year, renewing speculation the U.S. media company will seek to merge with peer Viacom Inc. (VIAB)

CBS Corp (CBS) previously approached Viacom Inc. (VIAB) on 12 January, 2018.

Update(s):

May 30, 2019: The talks are expected to start in mid-June, CNBC reported on Thursday, citing sources. The companies have not yet held discussions, sources familiar with the companies said.

June 18, 2019: CBS Corp. (CBS) is preparing to make an offer for sister media company Viacom Inc. (VIAB) in the coming weeks, following a meeting of CBS directors last week in which a potential deal was discussed, according to people familiar with the situation.

August 12, 2019: The boards of CBS Corp. (CBS)  and Viacom Inc. (VIABnegotiated late into the night, trying to hash out a price for the long-awaited merger, according to people familiar with the matter.

August 13, 2019: CBS Corp. (CBS) and Viacom (VIAB), two of the world’s leading entertainment companies, today announced they have entered into a definitive agreement to combine in an all-stock merger, creating a combined company with more than $28 billion in revenue.

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