CBS's merger with its long-lost corporate sibling Viacom is slated to close December 4—here's a review of the screwy history of this deal and the challenges the lie ahead for the new company:
Share to twitterNEW YORK, NY - AUGUST 13: Signage for the CBS Broadcast Center is displayed outside the building onAugust 13, 2019 in New York City. Following years of on-and-off talks and negotiations, CBS and Viacom have agreed to merge. The new company will be called ViacomCBS, and Viacom CEO Bob Bakish will be the CEO of the new combined company.
estimates that 2,000 people will lose their jobs after as the companies try to meet their savings targets of $540 million in 2020 and $653 million in 2021. Viacom CEO Bob Bakish will run the new company. Acting CBS CEO Joe Ianniello will retain his current position and will also get a $100 million payout once the deal closes.
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