FILE PHOTO: The CBS “eye” and logo are seen outside the CBS Broadcast Center on West 57th St. in Manhattan, New York, U.S., April 29, 2016. REUTERS/Brendan McDermid
Viacom shareholders will receive just above 0.595 CBS shares for each share they own, the sources said, adding that the final terms could still change.
The two companies are controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone and his family.
Reporting by Supantha Mukherjee in Bengaluru and Ken Li in New York; Editing by Anil D’Silva