CBS and Viacom complete merger | Major Businesses | Business
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After years of corporate, and sometimes familial, wrangling, the merger of one of the largest broadcasters in the US and the global content giant into ViacomCBS has now been finalised.

ViacomCBS logo 5Dec2019The companies entered into a definitive agreement to create a combined company global, multi-platform, premium content media firm in August 2019. CBS and Viacom say that their merger will create one of the most important content producers and providers in the world. ViacomCBS says that it is now a premium content powerhouse with global scale, including leadership positions in markets across the US, Europe, Latin America and Asia.

The portfolio includes consumer brands such as CBS, Showtime, Nickelodeon, MTV, BET, Comedy Central, Paramount Network, CBS All Access, Pluto TV and Simon & Schuster and crucially for the modern TV and video industry it will have a portfolio of direct-to-consumer platforms, including both subscription and ad-supported offerings. 

ViacomCBS will be home to more than 140,000 premium TV episodes and 3,600 film titles, with global production capabilities and more than $13 billion in annual content investment. The company will account for 22% of TV viewership in the U.S. and hold the highest share of broadcast and cable viewing across key audience demographics, with strength in all categories, including news, sports, general entertainment, pop culture, comedy, music and kids.

ViacomCBS Class A and Class B shares will begin trading on the Nasdaq Global Select Market and as a result of the merger, each Viacom Class A share and Viacom Class B share will be converted into 0.59625 of a Class A share and Class B share of ViacomCBS, respectively. Holders of CBS Class A shares and CBS Class B shares will continue to own their existing shares, which are now shares of ViacomCBS.

“This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers,” said Bob Bakish, president and chief executive officer of the new company.

“Through the combination of CBS’s and Viacom’s complementary assets, capabilities and talented teams, ViacomCBS will create and deliver premium content for its own platforms and for others, while providing innovative solutions for advertisers and distributors globally. I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees, while generating significant long-term value for our shareholders.”