CBS and Viacom reach merger deal, ending years of discussions

CBS and Viacom have agreed to merge, ending years of on-and-off talks.

The new company will be called ViacomCBS, and Viacom’s CEO, Bob Bakish, will be the CEO of the combined company. Joe Ianiello, who was serving as CBS CEO since last year, will be the chairman of CBS and will be in charge of CBS assets after the merger.