CBS and Viacom to reunite in an all-stock merger

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Sister companies under the control of Redstone family, Viacom and CBS, will reunite as ViacomCBS after 14 years apart. The combined group will be lead by CEO Bob Bakish, a longtime Viacom executive, and chaired by Shari Redstone, heir to the Redstone family business. In light of the megamergers of Disney with Fox and AT&T with Time Warner, the combination of CBS and Viacom is viewed as a logical move to maintain competitiveness in the entertainment industry.

The Financial Times, Anna Nicolaou and James Fontanella-Khan, 13th August 2019