CBS and Viacom have reached a long-rumored merger agreement. The two companies announced today that they will reunite as ViacomCBS. According to The Wall Street Journal, CBS and Viacom hope that, together, they’ll be better positioned to fight against cable TV competition and streaming services.

If it goes through, the all-stock deal will bring together Viacom’s MTV, Nickelodeon and Comedy Central, as well as its Paramount film and TV studio, and CBS’s broadcast network and Showtime premium network. The combined CBS and Viacom would be valued at roughly $30 billion, and Viacom shareholders would receive 0.59625 CBS shares for each share they own.

Källa: CBS and Viacom agree to sign $30 billion merger deal

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