ViacomCBS to launch new streaming service to build on CBS All Access, CNBC

ViacomCBS is working on a streaming service that will build on CBS All Access, CNBC reported on Thursday, citing people familiar with the matter.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 report added.

The company did not immediately respond to Reuters' request for comment.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.