CBS Viacom Merger

The switch to Paramount, effective on Wednesday, was announced as the company made a presentation to drum up excitement among investors about its future strategy and programming

Viacom shareholders will receive 0.59625 CBS shares for each share they own

CBS is offering a below-market value for Viacom shares, according to the person, who asked not to be identified discussing non-public deliberations

That offer is contingent on Viacom accepting all other aspects of CBS's bid, the sources added