CBS Corp. and Viacom Inc. are in the final stages of negotiating a deal that would reunite mogul Sumner Redstone’s media empire in the hopes of creating a more formidable competitor to the entertainment industry’s giants.
The two sides are still working out details including the exchange ratio for the transaction but have narrowed it down to a range of between 0.59 and 0.60, which would represent a small premium for CBS shareholders, according to people familiar with the matter.
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