Former CBS Chief Joe Ianniello Launches SPAC to Raise $300 million
CBS chief executive launched special purpose acquisition company Argus, named after the Greek mythological giant and the CBS eye logo. He is looking to raise at least $300 million and hopes to find an acquisition in media, telecom or technology, The Wall Street Journal reported.The spokesman did not disclose how much money has been raised so far.This move comes as other media giants from AT&T to BuzzFeed have inked their own deals recently, whether in the SPAC route or through pursuing other mergers.