CBS and Viacom renegotiate a possible merger

According to information from The Wall Street Journal, CBS and Viacom renewed their negotiations on June 14th for an eventual merger. According to the previous mentioned newspaper, both companies boards of directors met in order to discuss the details of the purchase, and CBS could submit an offer during the next few weeks. CBS does not have a preponderant role in Latin America at present.

CBS had been bought by Viacom in 2000, and in 2006 they were splitted up. However, in 2018 CBS submitted an offer to buy Viacom, which was rejected. As happened at that time, CBS presented an offer to buy Viacom in exchange for shares that did not reach the company’s market value.

No information was spread about the price of the purchase or who would be in charge of the new company in case the transaction is completed. According to CNBC, the new company that comes up as a result of the eventual merger would be leaded by Bob Bakish, current CEO of Viacom.