ViacomCBS to launch new streaming platform: Source

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ViacomCBS is working on a streaming service that will build on CBS All Access, a person familiar with the matter said on Thursday.

ViacomCBS executives have not made a firm decision, but are considering a service with advertisements that will combine CBS All Access with Viacom`s channels such as Nickelodeon, MTV, Comedy Central and Paramount Pictures, the person added.

CNBC reported the effort earlier on Thursday.

ViacomCBS will become the latest media company to throw its hat in the streaming ring after the launch of streaming services by Apple Inc and Walt Disney Co in November.

CBS and Viacom completed their merger in December, reuniting media mogul Sumner Redstone`s US entertainment empire.