In a move that will bring all of Star Trek under one umbrella, CBS and Viacom have agreed to merge into one company, ViacomCBS Inc. The merger was announced after two days of intense negotiations.
Viacom CEO Bob Bakish will lead the merged company, as announced by TrekToday earlier this week. Joe Ianniello will become chairman and CEO of CBS and Shari Redstone will become chairman of ViacomCBS.
“I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets,” said Redstone. “My father once said ‘content is king,’ and never has that been more true than today. Through CBS and Viacom‘s shared passion for premium content and innovation, we will establish a world-class, multiplatform media organization that is well-positioned for growth in a rapidly transforming industry. Led by a talented leadership team that is excited by the future, ViacomCBS‘s success will be underpinned by a commitment to strong values and a culture that empowers our exceptional people at all levels of the organization.”
“Today marks an important day for CBS and Viacom, as we unite our complementary assets and capabilities and become one of only a few companies with the breadth and depth of content and reach to shape the future of our industry,” said Bakish. “Our unique ability to produce premium and popular content for global audiences at scale – for our own platforms and for our partners around the world – will enable us to maximize our business for today, while positioning us to lead for years to come. As we look to the future, I couldn’t be more excited about the opportunities ahead for the combined company and all of our stakeholders – including consumers, the creative community, commercial partners, employees and, of course, our shareholders.”
The deal should be completed by the end of this year.