CBS, Viacom reunite with plans for bigger role in streaming TV wars

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CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone’s U.S. entertainment empire, betting that a larger company will be able to compete and partner better in a media industry dominated by giants.

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(Reuters) – CBS Corp (CBS.N

LionTree Advisors LLC and Morgan Stanley & Co served as financial advisers and Cravath, Swaine & Moore LLP as legal counsel to the special committee to the Viacom board.

Viacom was advised by Shearman & Sterling LLP. National Amusements was advised by Evercore as its financial adviser and by Cleary Gottlieb Steen & Hamilton LLP as its legal counsel.

Reporting by Kenneth Li; Additional reporting by Helen Coster in New York and Supantha Mukherjee in Bengaluru; Editing by Saumyadeb Chakrabarty, Nick Zieminski and Lisa Shumaker


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Author:

CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone’s U.S. entertainment empire, betting that a larger company will be able to compete and partner better in a media industry dominated by giants.

Source: {authorlink}

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