The negotiations for the CBS and Viacom merger could finish as soon as Monday, sources say.
are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said.
An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with anof more than $20 billion. CBS will exchange its shares for each Viacom Class B share. Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal to give a combined company more financial heft to compete against media and tech heavyweights including Amazon and Apple for entertainment and sports rights, most notably the National Football League. CBS owns NFL broadcast rights until 2022 and "will do what is necessary" to renew them, according to CBS Sports chief Sean McManus.
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