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CBS and Viacom Are Said to Near Deal After Agreeing on Price (2)

Aug. 13, 2019, 1:44 PM

CBS Corp. and Viacom Inc. may be done keeping investors waiting.

The media giants are expected to announce a merger as soon as Tuesday, the culmination of years of on-again, off-again discussions.

They’ve agreed on an exchange ratio of 0.59625 a share of CBS for each of Viacom’s for the all-stock merger, according to people familiar with the situation. At this level, a deal would peg Viacom at around its current market value of close to $12 billion. The agreement struck between the companies is in principle and won’t be final until it’s announced, the people said.

Shari Redstone

The companies ...