During a town hall with employees Wednesday, Viacom CEO Bob Bakish praised workers for their “hard work turning around Viacom” and promised to keep them informed about the merger with CBS, attendees said
“You can argue the third time’s the charm,” Bakish said, according to a network transcript, describing the three rounds of formal deal talks in the past three years. “We started this discussion at the end of ’16 when I was acting CEO of Viacom. Then, it was revisited again about a year and a half later. And this time, yesterday, we announced we’re putting the two companies together.”
Sorkin asked if Joe Ianniello, the acting CBS CEO who will become chairman and CEO of CBS of the new company, will collect $70 million because he didn’t become CEO of the combined entity. “Look, you can look at the public filings and all,” Bakish replied. “We are thrilled to be moving forward together. We are going to create a lot of value here. And we can’t wait to get on with it. … His contract is what his contract is.
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