CBS, Viacom reach deal to reunite Sumner Redstone's media empire
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(Reuters) - CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone's U.S. entertainment empire, betting that a larger company will be able to compete and partner better in a media industry dominated by giants.The new company will be named ViacomCBS Inc, although CBS shareholders will own 61% and Viacom shareholders will own 39%.The merger creates a company with roughly a $30 billion market value, which is still small compared to rivals including Netflix Inc , at..