Published: Mon, February 05, 2018
Markets | By Noel Gibbs

Viacom, CBS Directors Form Groups To Study Merger

Viacom, CBS Directors Form Groups To Study Merger

The two companies released similar statements announcing the formation of special committees to evaluate the possibility of a merger, but cautioned that there was no guarantee of a deal being reached.

CBS Corp. and Viacom announced Thursday that the two companies are discussing a potential merger, a move that would reunite the two companies that were split by founder Sumner Redstone more than a decade ago. The details are still being finalized and the plans could still change.

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Any eventual deal could see an Australian media mega-company which could house the existing CBS offices, the Viacom channels business (Nickelodeon, MTV and others) plus the recently acquired Ten Network and maybe even Paramount's local operation. "ORCRP015301-topic.html" class="local_link" >Time Warner Inc. get bigger through multibillion-dollar deals.

But Shari Redstone, whose National Amusements owns a controlling stake in both media companies and 80 per cent of their Class A shares, applauded the start of the merger talks.

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In 2016, there were discussions of merging CBS with Viacom but a deal did come to fruition. "In addition, a merger with Viacom would give CBS more cash flow to help prepare for its upcoming National Football League negotiations". "National Amusements does not now intend to make any further comments regarding the process".

Both companies also said they would not comment further until negotiations were completed.

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CBS has a market value of about $23 billion, while Viacom is valued at $13.7 billion.

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