Viacom And CBS Set To Merge As ViacomCBS
After three years of negotiations following 13 years as separate entities, a mega-merger is looming. The two media giants, CBS and Viacom, have agreed to reunite in a global deal that will have an impact on the entire African continent.
On Tuesday, Viacom and CBS that had separated 13 years ago, announced that Viacom – the parent company of pay-TV channels available in Africa such as MTV Base, MTV, BET Africa, Nickelodeon and Comedy Central - will merge with the broadcaster CBS, parent of the Showtime pay-TV channel.
Viacom runs various linear TV channels as a channel supplier throughout Africa on MultiChoice's DStv satellite pay-TV platform and through Viacom International Media Networks Africa (VIMN Africa), while M-Net acquires and airs many Showtime and CW series like Tell Me a Story and The Good Fight.
The combination of Viacom and CBS will be known as ViacomCBS and will be lead by Robert M. Bakish, who is Viacom's CEO, and Joseph Ianniello, the CBS acting CEO.
Viacom and CBS used to operate as Viacom until they split in 2006, but the combined ViacomCBS will now reach a staggering 4.3 billion pay-TV subscribers globally.
Bob Bakish issued a statement saying that Viacom and CBS's unique ability to produce premium content for global audiences will position the merged entity to lead for years to come.
Joseph Ianniello said that the merger brings exciting new opportunities to both companies and that he looks forward to ongoing success.