CBS-Viacom Merger Set to Close Dec. 4

By Jon Lafayette
( Broadcasting & Cable )
published

CBS and Viacom on Monday said their merger is expected to close after the market closes on Dec. 4.

Related: Viacom, CBS Move Closer to Closing Merger

The merger combines to media companies controlled by the family of Sumner and Shari Redstone and is designed to create an entity big enough to compete as the television business enters the streaming era.

CBS and Viacom said the combinued company will be named ViacomCBS Inc. and trading on the Nasdaq is expected to start Dec. 5 using the ticker symbols VIACA and VIAC.

Over the past few weeks, the companies have announced the senior executives who will lead the company, starting with Viacom CEO Bob Bakish, who will be CEO of ViacomCBS.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.