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BREAKING NEWS

CBS, Viacom in final stages of all-stock merger - sources

CBS, Viacom in final stages of all-stock merger - sources
The CBS Television Center is seen in Los Angeles, California, U.S., August 7, 2019. REUTERS/Lucy Nicholson -
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LUCY NICHOLSON(Reuters)
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(Reuters) – CBS Corp <CBS.N> and Viacom Inc <VIAB.O> are in the final stages of negotiation of an all-stock merger, two sources told Reuters.

Viacom shareholders will receive just above 0.595 CBS shares for each share they own, the sources said, adding that the final terms could still change.

The two companies are controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone and his family.

(Reporting by Supantha Mukherjee in Bengaluru and Ken Li in New York; Editing by Anil D’Silva)

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