CBS, Viacom to reunite in merger that creates roughly $30B company
CBS, Viacom to reunite in merger that creates roughly $30B company. CBS and Viacom, two television programming companies that split more than a decade ago, finalized a merger deal Tuesday to recombine, creating a single entity with about $30 billion in market value. A CBS-Viacom reunion is the latest in a wave of mergers and acquisitions of traditional media companies, as they try to come to grips with the scale of their emerging competitors in the tech world. CBS and Viacom said a merged company would be in a better position to accelerate a "direct-to-consumer" strategy -- industry jargon for streaming services that don't involve any traditional TV distributor like a cable company.