What was once one then became two only to become one once more. After spending 13 years as separate entities, CBS and Viacom are coming back together as ViacomCBS. And in this age where streaming is currently king, this merge might prove to be beneficial for both parties as more and more entertainment giants are launching their own streaming services. More on the report below.

Deadline says the new deal will allow ViacomCBS to offer a notable mix of subscription and advertising-supported streaming services. CBS launched CBS All Access and Showtime’s over-the-top (OTT) platforms in 2015. Earlier this year, Viacom acquired Pluto TV, a leading ad-supported VOD service.

The transaction combines CBS assets including its flagship broadcast network, local TV stations, premium network Showtime, and publishing house Simon & Schuster, with Viacom’s Paramount Pictures, MTV, Comedy Central, and Nickelodeon.

The Verge (via The Wall Street Journal) says the merging of these two companies is valued at roughly $30 billion. Of course, that is nowhere near the cost of Disney’s acquisition of Fox. Additionally, the merger is not likely to result in deep job cuts, though some many happen in the administrative areas due to overlap.

It will be interesting to see what this means for some of CBS’s more notable shows. For example, The Big Bang Theory was a Warner Bros. production but broadcast under the CBS flagship. However, that show, along with Two and a Half Men, now find themselves in the midst of a deal to be bought by WarnerMedia for $1.5 billion. Should that deal be signed, those two shows would be found exclusively on the new HBO Max.

But the loss of two shows won’t be that big for the new ViacomCBS, as the merger will allow them to have the Star Trek brand under one roof. Paramount Pictures has distributed the past three Star Trek films, with CBS airing Star Trek shows under their CBS All Access streaming service – the network had all of the TV rights to the franchise. Now they can have all of that under one name. This also means that they have access to the Mission: Impossible franchise. That franchise recently saw a two-film extension after Christopher McQuarrie signed on to direct the next two films, which will be released in the coming years. And let’s not forget about Transformers and G.I. Joe.

As aforementioned, this new merger would allow the newly formed company to stay in the competition. This in a time when more and more entertainment giants are launching their own streaming services or having mega-mergers. Among those to launch their own streaming services are Disney, WarnerMedia, and Universal. Furthermore, Disney’s brand only continues to expand as it recently acquired Fox.

[Source: Deadline | The Verge (via The Wall Street Journal))