CBS, Viacom reunite with plans for bigger role in streaming TV wars - CNA
CBS, Viacom reunite with plans for bigger role in streaming TV wars. REUTERS: CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone's U.S. entertainment empire, betting that a larger company will be able to compete and partner better in a media industry dominated by giants. It creates a company with roughly a US$30 billion market value, which is still small compared with rivals including Netflix Inc , at US$136 billion, ABC network owner Walt Disney Co , at US$245 billion, and NBC owner Comcast Corp at US$193 billion. The third attempt at a merger since 2016 is a decisive win for Shari Redstone, whose father built the companies through a series of mergers and then broke them apart 13 years ago.