Viacom, CBS Set to Merge in Early December

By Christine Zosche 

CBS and Viacom now plan to merge as soon as early December, the two media companies said Monday, setting in motion the last steps to yet another consolidation in the traditional media sector. (Variety)

Until this point, company executives had said they hoped the deal would close by the end of the year. (THR)

The $30 billion merger has been approved by parent company National Amusements. The companies said Monday that the approval for the all-stock deal “satisfies the closing conditions to the merger requiring approval of a majority of the CBS Class A shares and a majority of the Viacom Class A shares.” (Deadline)

According to the announcement by both parties, the final results of consent solicitations will be “set forth in the companies’ separate Current Reports on Form 8-K that will be filed with the SEC.” Those postings are expected within the coming days. (Fox Business)