CBS and Viacom Announce Merger

HeadlineAug 14, 2019

CBS and Viacom announced Tuesday they would rejoin forces after splitting in 2006. The two companies, along with Paramount Pictures studio, are attempting to head off competition from entertainment giants like Disney and streaming services including Netflix. The deal is the latest megamerger in the media world, after AT&T acquired Time Warner for $80 billion and Disney took over 21st Century Fox business for over $70 billion last year.

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