CBS and Viacom Strike Deal for Long-Thwarted Merger – The Wall Street Journal

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CBS and Viacom Strike Deal for Long-Thwarted Merger – The Wall Street Journal


CBS Corp. and Viacom Inc. agreed to merge, a deal the media companies hope will put them on stronger footing to compete with larger rivals in a business buffeted by cable TV cord-cutting and increasingly dominated by streaming.

The all-stock deal, if completed, will reunite the media empire of mogul Sumner Redstone, who had split up CBS and Viacom in 2006. It will create a major entertainment player valued at roughly $30 billion, combining Viacom properties such as MTV, Nickelodeon, Comedy Central and the Paramount film and…

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