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CBS-Viacom Merger Will Deliver Big Payday for Boutique Banks (1)

Aug. 13, 2019, 7:40 PMUpdated: Aug. 13, 2019, 9:29 PM

CBS Corp. and Viacom Inc. primarily relied on boutique investment banks to help put together their long-awaited $11.7 billion merger.

Centerview Partners Holdings and Lazard Ltd. are advising CBS. Viacom’s bankers are LionTree Advisors LLC and Morgan Stanley while National Amusements Inc. -- the controlling shareholder of both companies -- is being advised by Evercore Inc., according to the deal announcement.

CBS’ advisers could share a pot of $25 million to $30 million in fees, according to estimates from consulting firm Freeman & Co. The advisers for Viacom could roughly split between $30 million to $40 million.

Liontree and Morgan ...