· The serving Viacom CEO, Bob Bakish has been named to lead to the fused organization.
· Joe Ianniello will be overseeing CBS-branded assets.
The US based Viacom Incorporation has reportedly inked an agreement with CBS Corporation on the confirmation of its management team post their collaboration.
As per the credible sources, CBS and Viacom have reportedly settled the queries regarding the new management team when the reunion of the companies happens. It has been claimed that the current Viacom head, Bob Bakish is expected to assist the merged company as the Chief Executive Officer while the acting CEO of CBS, Joe Ianniello would be responsible for looking after the CBS-branded assets. Joe since its leadership has been able to gather praise for helping the company navigate through all odds following the departure of then CEO Les Moonves.
According to the sources with the knowledge of the matter, the chief financial officer of CBS, Christina Spade has been appointed to become the CFO of the combined company as well.
Reportedly, the timing of the merger announcement has not yet been confirmed and is expected to come anytime soon.
The negotiations also look forward to exchange ratio for the companies and the makeup of the combined group’s board.
It has been claimed that, Viacom has come out as the weaker of the two companies in recent years, following cable-TV cord-cutting lead to a decline in ratings for its major networks. Whereas, on the other hand, CBS has been strengthened by sports and some broadcast-TV hits.
As per the sources, the alliance would provide Viacom a larger scale and more influence in discussions with promoters while CBS would be able to cater the youngsters via channels like Nickelodeon and MTV.
Neither party has given a confirmation on the news so far, claim sources with the knowledge of the matter.
For the records, Viacom Incorporation is the United States based American multinational mass media company with proficiency in film and television and is currently the world’s 9th largest media company.