CBS and Viacom agree billion-dollar merger to challenge Disney and Netflix

  • Pair reunify after more than 10 years as separate companies
  • Shari Redstone expected to be named chairwoman of the board

US media companies CBS and Viacom announced a merger on Tuesday in a bid to strengthen their position as they take on Netflix’s streaming insurgency and face up to the loss of “cord-cutter” viewers.

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