CBS, Viacom in Final Stages of Deal Talks

By Benjamin Mullin and Dana Cimilluca

CBS Corp. and Viacom Inc. are in the final stages of negotiating a deal that would reunite mogul Sumner Redstone's media empire in the hopes of creating a more formidable competitor to the entertainment industry's giants.

The two sides are still working out details including the exchange ratio for the transaction but have narrowed it down to a range of between 0.59 and 0.60, which would represent a small premium for CBS shareholders, according to people familiar with the matter.

The all-stock deal, if completed, will bring under one roof recognizable American media properties including Viacom cable channels like MTV and Nickelodeon, the Paramount film and TV studio and the CBS broadcast network.

There's still a chance that the price could fall outside that range or that the talks could break down but the companies are hoping to announce a deal as early as Monday, the people said.

Write to Benjamin Mullin at Benjamin.Mullin@wsj.com and Dana Cimilluca at dana.cimilluca@wsj.com

(END) Dow Jones Newswires

August 12, 2019 09:16 ET (13:16 GMT)

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