12/5, 1:15 AM (Source: TeleTrader)
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Viacom-CBS merger completed

ViacomCBS Inc. announced in a press release that the merger deal between CBS Corporation and Viacom Inc. has been completed.

ViacomCBS will invest $13 billion in global production and content, which already includes 140,000 TV episodes and 3,600 movies. The new media company will take up 22% of the TV audience in the US, according to the statement.

"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," President and CEO of ViacomCBS Bob Bakish said in the press release.

Breaking the News / MS