FOX Business correspondent Charlie Gasparino believes there’s a 50/50 chance that CBS and Viacom will announce a formal deal to re-merge this week, after a fractious few months of wrangling over both companies’ futures.

Gasparino said that the companies have settled key parts of a combined leadership team –in particular designating Viacom chief Bob Bakish to be CEO of the combination, with CBS interim CEO Joe Ianniello in charge of CBS branded assets and CBS CFO Christina Spade to be CFO of the merged company.