CBS Corp. agreed to merge with Viacom Inc. in a transaction of $ 11.7 billion, culminating in years of unstable efforts between both giants of the US media.
The stock agreement joined the United States most followed chain with the parent company of Paramount Pictures and cable channels like MTV and Nickelodeon. It followed a marathon of negotiations in which both parties finally arrived at a price for the long-awaited merger.
CBS shareholders will get 61% of the combined company, and the rest will go to Viacom investors. Each share of the latter company will become 0.59625 of a CBS share.