Viacom, CBS Announce Merger DateViacom, CBS Announce Merger Date

Viacom and CBS have announced the consolidation of their companies, to be called ViacomCBS, is set to close on Dec. 4.

The new company will operate the CBS television network, Paramount movie studio, kids’ television programming and late-night television programming.

Both companies have shared the same shareholder, the Redstone family’s National Amusements Inc., which controls the majority of voting shares in both entities. Bob Bakish is expected to become chief executive officer of ViacomCBS.

The merged company will provide new streaming options on CBS All Access. Nickelodeon content will include “The Adventures of Paddington Bear,” “Inspector Gadget,” “Madeline” and “Bob the Builder.” New original seasons of “Cloudy with a Chance of Meatballs” and “Danger Mouse” will also be available through the platform.

“Bringing children’s programming to CBS All Access is a significant step toward providing even more value for our subscribers and now for their children as well,” says Marc DeBevoise, president and chief operations officer, CBS Interactive. “We’re bringing to market a fantastic roster of exclusive originals along with a library of marquee series for families, and we look forward to continuing to expand our children’s programming offering, especially with the future addition of incredible programming from Nickelodeon.”

The Nickelodeon-CBS deal arrives just after Viacom partnered with Netflix to produce new original content in a deal worth an estimated $200 million.

Kids’ programming has recently emerged as a top priority among streaming services, with Apple TV+  teaming with Peanuts and Sesame Workshop, the forthcoming HBO Max streaming “Sesame Street” and Disney+ recently introducing its massive library.