(Reuters) – CBS Corp (CBS.N) and Viacom Inc (VIAB.O) have reached a deal to reunite media mogul Sumner Redstone’s U.S. leisure empire, betting {that a} bigger firm will be capable of compete and companion higher in a media trade dominated by giants.

The brand new firm shall be named ViacomCBS Inc, though CBS shareholders will personal 61% and Viacom shareholders will personal 39%.

The merger will mix the CBS tv community, CBS Information, Showtime cable networks with MTV Networks, Nickelodeon, Comedy Central and the Paramount film studios. Collectively, they are going to personal greater than 140,000 TV episodes and three,600 movie titles. Yearly, it’s…



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