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Viacom, CBS eye Aug. 8 as date for merger deal

Viacom and CBS hope to reach an accord on a merger by Aug. 8, the day both organizations report their second-quarter financials, sources tell CNBC, adding that the parties have already agreed in principle on the need to make a deal in order to compete in a more consolidated media market. The companies will reportedly wait to address the merger's price until they have agreed on other management and strategic factors.

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