CBS and Viacom have set an internal deadline to come to an agreement on the long-awaited merger between the two companies, according to a report from CNBC.
The financial news outlet reported on Monday that both companies have informally circled Aug. 8 as a natural date for a merger to be consummated. An individual with knowledge of the discussions characterized it as a natural target as opposed to a hard deadline, since both companies are scheduled to report their second-quarter earnings that day.
Both Viacom and CBS declined to comment.
The two companies are keeping price out of the discussion for now, CNBC reported, until all strategic and management issues are resolved first.