Viacom, CBS Move Closer to Closing Merger

By Jon Lafayette
( Broadcasting & Cable )
published

Viacom and CBS said their merger is getting nearer to completion and that a closing is now expected in early December.

The companies said that the merger proposals have been approved by National Amusements, the investment company owned by the Redstone family that controls both Viacom and CBS.

Also the registration statement by the companies with the SEC was declared effective by the agency. The statement includes a join consent solicitation prospectus for CBS and Viacom.

The merger remains subject to other customer closing conditions, the companies said.

After the merger, CBS will delist its shares and Viacom Class A will be listed on NASDAQ as VIACA and Viacom Class B will be listed as VIAC.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.