The parent company of CBS and Viacom, National Amusements, has approved the merger of the two companies.
Following approval, the deal looks to close by early Dec. The agreement will see the newly merged company be renamed ViacomCBS. Collectively, the ViacomCBS library will be comprised of more than 140,000-plus TV episodes and more than 3,600 film titles.
As previously announced, the new company will be led by Viacom’s chief executive officer Bob Bakish.
Joseph Ianniello, acting chief executive officer, CBS, will be named chairman and will oversee CBS assets after the move.