CBS Corporation and Viacom have announced the completion of their merger. The combined company, which is renamed ViacomCBS, creates a content powerhouse with global scale, including leadership positions in markets across the US, Europe, Latin America and Asia.
“This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers,” said Bob Bakish, President and Chief Executive Officer of ViacomCBS. “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.”
Building on a collection of popular franchises and partnerships with creative talent around the world, ViacomCBS will be home to more than 140,000 premium TV episodes and 3,600 film titles, with global production capabilities and more than $13 billion in annual content investment. The company will account for 22 per cent of TV viewership in the US and hold the highest share of broadcast and cable viewing across key audience demographics, with strength in all categories.
ViacomCBS Class A and Class B shares will begin trading on the Nasdaq Global Select Market on December 5th.