The second and current incarnation of Viacom Inc., is an American multinational media conglomerate company with interests primarily in film and television, which was formed as a spin-off of the original Viacom on December 31, 2005. It is one of two companies which succeeded the original Viacom, alongside CBS Corporation; both are owned by National Amusements, a theater company controlled by billionaire Sumner Redstone. The spin-off was structured so that CBS Corporation would be the legal successor to the old Viacom, with the new Viacom being an entirely new company.
Early Tuesday afternoon, Domain Investing reported, Bloomberg published an article saying CBS and Viacom will merge into one company in an all-stock deal. The new joint entity will be known as.. WorldNews - Published
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.. Reuters - Published