After three years of attempts, Viacom and CBS have finally merged, bringing the National Amusements-controlled companies back together for the first time since 2006.

The deal creates a combined entity valued at about $30 billion, putting it ahead of rival Fox ($21.7 billion) but still significantly behind giants like Netflix ($136 billion), Comcast ($193 billion) and Disney ($244.5 billion). Shari Redstone, the daughter of former CBS and Viacom leader Sumner Redstone and vice-chair of both companies, will be chair of the combined company. Viacom chief executive Bob Bakish will be the merged company’s CEO.