The two companies, which will be known as ViacomCBS once the deal is complete, said the pact had secured the approval of National Amusements Inc., the movie-exhibition chain controlled by the Redstone family that holds the majority of voting stock in both concerns.
More from Variety
- Wall Street Trims ViacomCBS Forecasts After Post-Deal Financial Disclosure
- CBS Sets Six Participants in 2019-20 Writers Mentoring Program
- CBS Renews 'Evil,' Orders Full Seasons of Four Other Freshman Shows
Shari Redstone, daughter of media entrepreneur Sumner Redstone, will oversee the businesses for National Amusements. But day to day leadership will be put in the hands of Bob Bakish, the Viacom CEO. Joe Ianniello, the CBS CEO, is set to manage the majority of the CBS assets.
The companies had previously indicated their merger would be completed before the end of 2019.
Best of Variety
- Emmys Trivia: 20 Surprising Facts From 2019's Nominations
- Listen: Hugh Grant on Why He Would Kill Social Media if He Could
- 'Game of Thrones' Filming Locations in Northern Ireland to Open as Tourist Attractions