Viacom: agreement reached for merger with CBS
(CercleFinance.com) - Late on Tuesday, CBS and Viacom announced a definitive agreement for a merger - entirely in shares, that will give birth to ViacomCBS, a media and entertainment giant that has revenues of over 28 billion dollars.
"The combined company will have an attractive growth outlook and increased financial scale with substantial free cash flow, which will enable significant and sustained investment in programming and innovation, as well as support the combined company's commitment to maintaining a modest dividend payment,” they said.
The transaction will have an accretive effect on EPS and is expected to generate 500 million dollars in annual synergies in the first 12 to 24 months following the finalisation, which is expected by the end of 2019 subject to meeting the usual conditions and authorisations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"The combined company will have an attractive growth outlook and increased financial scale with substantial free cash flow, which will enable significant and sustained investment in programming and innovation, as well as support the combined company's commitment to maintaining a modest dividend payment,” they said.
The transaction will have an accretive effect on EPS and is expected to generate 500 million dollars in annual synergies in the first 12 to 24 months following the finalisation, which is expected by the end of 2019 subject to meeting the usual conditions and authorisations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.