CBS and sister company Viacom have agreed to merge in an all-stock deal that would create a combined company with around $28 billion in revenue, the companies announced on Tuesday afternoon.
The feeling at Viacom, based on interviews with current and former employees, is relief that the long-awaited deal is done and anxiety around what comes next.
While some employees in Viacom’s ad sales and marketing teams are concerned about potential layoffs and upward mobility, other staffers felt that Viacom was emerging as a leader over CBS, which made them more confident in their job prospects.
Viacom employees that Business Insider spoke with were also bracing for more deal activity, believing that a deal with Viacom was just one step in CBS’ growth plans.
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CBS and Viacom have agreed to merge — after 13 years apart and two stalled merger attempts in recent years — bringing TV channels like MTV, VH1, Nickelodeon, Comedy Central, and BET under the same roof as CBS, Showtime, and CBS’ sports and news networks, the companies announced on Tuesday afternoon. The proposed all-stock deal would create a combined company with roughly $28 billion in revenue, the companies said.
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Source:: Businessinsider – Tech