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CBS, Viacom deal to close on December 4th

New company will be called ViacomCBS Inc

The merger of CBS and Viacom will officially be completed on 4th December the two companies announced, launching the rebranded company of ViacomCBS Inc.

The deal will be completed after market hours on 4th December, with ViacomCBS Inc. beginning to trade on the Nasdaq Global Select Market the following day.

This merger represents a reunification of CBS and Viacom, as the two companies split originally in 2006.

Bob Bakish will be the president and CEO of ViacomCBS Inc. Joe Ianniello will now serve as chairman and CEO of CBS, overseeing CBS-branded content.

ViacomCBS Inc. is now the parent company of CBS, CBS Sports, CBS News, Showtime, Comedy Central, BET, MTV, the Paramount Network, Ten Australia, Nickelodeon, CBS All Access, 5, Pop, PlutoTV, the CW and Paramount Studios.

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