CBS, Viacom Merger Gets Go-Ahead From Redstone’s National Amusements

Deal is expected to close in early December

Shari Redstone, vice chairman of then-Viacom Inc., on the first day of the annual Allen & Company Sun Valley Conference, July 11, 2017 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. (Getty Images)

Trey Williams

October 28, 2019 @ 4:36 PM

CBS Corp. and Viacom announced on Monday that Shari Redstone’s family-owned holding company National Amusements formally approved of the merger between the two companies.

The new target for the deal closing is early December, the two companies said in a filing with the Securities and Exchange Commission.

Redstone is the president of National Amusements, which is the controlling stakeholder for both companies, and she will serve as chairman of the board of the combined ViacomCBS.

Redstone had been pushing for the two companies to merger for roughly three years. In August, CBS and Viacom announced the long-awaited merger of the companies, which split back in 2005.

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