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CBS, Viacom merger edges closer

Two companies reportedly set internal date of 8th August to agree a deal

CBS and Viacom have reportedly set an internal date of 8th August to agree a merger deal.

The date is significant as it is when both companies are due to announce their Q2 2019 earnings.

According to CNBC, both companies have “conceptually agreed that a deal to gain scale makes sense.” The price of the deal, which will come in the form of a merger exchange ratio, hasn’t been discussed and according to the report, it won’t be addressed until all strategic and management issues are agreed.

Rumours of a deal between the two companies have been circulating for almost a year, with talks resuming between the two parties back in March.

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