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Viacom, CBS agree to merger deal


Viacom and CBS agreed to an all-stock merger on Tuesday, combining their assets including MTV, Showtime and Paramount Pictures. File Photo by John Angelillo/UPI | License Photo

Aug. 13 (UPI) -- Media companies Viacom and CBS agreed to a merger on Tuesday, combining their entertainment assets.

The companies will combine in an all-stock merger and be known as Viacom CBS Inc., with Viacom president and CEO Bob Bakish set to serve as president and CEO of the newly formed company and CBS CEO Joe Ianiello will become the chairman of CBS and remain in charge of CBS assets.

As a result ...


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