The merged entity is named ViacomCBS; it creates a premium content powerhouse with a global scale, including leadership positions in markets across the US, Europe, Latin America, and Asia.
ViacomCBS president, CEO Bob Bakish commented: “This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers. Through the combination of CBS’s and Viacom’s complementary assets, capabilities and talented teams, ViacomCBS will create and deliver premium content for its own platforms and for others, while providing innovative solutions for advertisers and distributors globally. I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees while generating significant long-term value for our shareholders.”
ViacomCBS will have a library of 140,000 premium TV episodes and 3,600 film titles, with global production capabilities and more than $13 billion in annual content investment. The company will account for 22% of TV viewership in the U.S. and hold the highest share of broadcast and cable viewing across key audience demographics, with strength in all categories.