Thirteen years after going their separate ways, CBS Corp. and Viacom are ready to reunite.
Following a summer of talks, CBS and Viacom said today they have agreed to combine in an all-stock merger. The new company, ViacomCBS Inc., will have more than $28 billion in revenue.
Viacom president and CEO Bob Bakish will lead ViacomCBS as president and CEO. Joe Ianniello, who has been acting CBS CEO since Les Moonves exited the company last September following more than a dozen accusations of sexual harassment and intimidation, will become chairman and CEO of CBS and oversee the CBS-branded assets in the combined company.