CBS, Viacom reach deal to reunite Sumner Redstone’s media empire
By Kenneth Li (Reuters) - CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone's U.S. entertainment empire after 13 years apart. The new company will be named ViacomCBS Inc despite the fact that CBS shareholders will own 61% and Viacom shareholders will own 39%.
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