Recent reports have revealed another step toward the proposed CBS-Viacom merger, with multiple outlets writing that in the event of a merger Viacom CEO Bob Bakish would be selected as the CEO of the combined company.
In addition to Bakish’s position within the proposed new company, it was reported that acting CBS CEO Joe Ianniello would take on a new role overseeing the company’s CBS-branded content, and CBS’s CFO Christina Spade would serve as the CFO.
Talks of CBS and Viacom—which are both controlled by the family of Summer and Shari Redstone—merging into a single entity have been underway for some time. A merger would bring together CBS’ broadcast network and sports franchises with Viacom’s cable networks.
Both companies are scheduled to conduct quarterly earnings calls on Thursday, Aug. 8, during which it is believed that a merger could be announced. Though according to the Los Angeles Times’ report on the news, talks are still fluid and this is not a final agreement on management structure; nor were the companies’ valuations agreed upon as of yet.