Jack Quann
Jack Quann

17.32 5 Dec 2019


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Two major broadcasting firms have completed a merger, which sees them become one company.

Viacom and CBS are joining forces for the second time: the two first merged in 1999, and broke apart in 2005.

They are now known as 'ViacomCBS' - a collection of cable channels, broadcast networks and film and publishing divisions.

Among the assets of Viacom are Comedy Central, MTV and the film studio Paramount.

CBS brings CBS News, the cable network Showtime and the publisher Simon & Schuster to the table.

It also has one of the largest libraries of intellectual property - made up of over 140,000 TV episodes and 3,600 film titles.

The combined company has more than 750 series currently ordered to or in production.

The firm says it will reach more than 4.3 billion cumulative TV subscribers.

It operates broadcast networks in the UK, Argentina and Australia - as well as pay-TV networks across more than 180 countries.

ViacomCBS was valued at around US$30bn (€27bn) when the merger was announced in August.

President and chief executive officer of ViacomCBS, Bob Bakish, said: "This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers.

"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.

"I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees, while generating significant long-term value for our shareholders."

It is the latest string of tie-ups in the sector.

The Walt Disney Co bought most of 21st Century Fox earlier this year, while AT&T completed its acquisition of Time Warner for €78.4bn back in 2016.

And US cable giant Comcast bought a majority of TV operator Sky in 2018.


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Bob Bakish CBS CBS News Comedy Central MTV Merger Paramount Showtime Simon & Schuster Tie-ups Viacom ViacomCBS

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