Bob Bakish Hails “Historic Moment” as Viacom-CBS Merger Is Official

The merger of CBS Corporation and Viacom is now complete, with ViacomCBS CEO Bob Bakish calling it a “historic moment” for the media industry.

The combined ViacomCBS is home to more than 140,000 TV episodes and 3,600 film titles, with global production capabilities and more than $13 billion in annual content investment. The company will account for 22 percent of TV viewership in the U.S. and hold the highest share of broadcast and cable viewing across key audience demographics.

“This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers,” said Bakish. “Through the combination of CBS’s and Viacom’s complementary assets, capabilities and talented teams, ViacomCBS will create and deliver premium content for its own platforms and for others, while providing innovative solutions for advertisers and distributors globally. I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees, while generating significant long-term value for our shareholders.”