Media trends

CBS and Viacom get closer to merging

CBS chair Shari Redstone. Photo: Drew Angerer/Getty Images

Merger talks between CBS and Viacom could reach a "critical stage" tomorrow, when the CBS board is scheduled to discuss the deal, according to Fox Business Network.

The bottom line: It's been a long time coming. Shari Redstone, the majority shareholder of both Viacom and CBS, has wanted to combine the companies for years, but was regularly thwarted by a CBS board led by then-CEO Les Moonves. With Moonves now gone and a new board in place, a merger seems likely.

Facebook rolls out new shows and strategy for "Watch"

Facebook announced on Wednesday a fresh slate of news shows for its video tab "Watch," along with updates on strategy and monetization on the platform. It added that its audience for "Watch" has roughly doubled since December, signaling that its plan to take on YouTube as the world's premier social video destination is taking shape.

Why it matters: Watch intends to help Facebook grow its audience and ad business. To date, Facebook has made most of its money from display ads — which mainly cater to advertisers trying to sell things. Expanding its video platform will allow Facebook to sell more TV-like "brand" ads, which help businesses increase awareness.