The new entity will merge TiVo’s content aggregation, discovery and recommendation capabilities with Xperi’s home, automotive and mobile device licenses. According to TiVo, the two companies hold more than 10,000 patents and applications with minimal license overlap. That intellectual property will make Xperi one of the largest licensing companies in the world.

“The combined company will have a unique industry platform to address an ever-increasing consumer desire to enjoy entertainment anywhere, anytime, on any device,” TiVo said in a press release. The all-stock deal values TiVo at about $1.2 billion, and as a result of the merger, the companies expect to save at least $50 million by the end of 2021.

TiVo has had a busy year. It introduced a new box, TiVo Edge, with Dolby Vision, started its own streaming service, finally allowed iOS users to stream via cellular and brought Amazon Prime to its boxes. There was also talk of a $50 dongle for Android TV, and now, TiVo is ending 2019 with this merger, its biggest news yet. The deal is expected to close in the first half fo 2020.

If it goes through, the all-stock deal will bring together Viacom’s MTV, Nickelodeon and Comedy Central, as well as its Paramount film and TV studio, and CBS’s broadcast network and Showtime premium network. The combined CBS and Viacom would be valued at roughly $30 billion, and Viacom shareholders would receive 0.59625 CBS shares for each share they own.

Bob Bakish, Viakom’s current chief executive, would likely become CEO of the merged companies, and CBS Acting Chief Executive Joe Ianniello is expected to run CBS-branded assets. Shari Redstone, who controls both CBS and Viacom along with her father through National Amusements Inc., is positioned to become chairman of the board for the combined companies.

The merger is far from a surprise. The media giants originally split in 2006, but rumors that the companies might reunite began circulating by 2016, and they’ve continued over the years. While today’s agreement is significant, it’s too soon to say for sure if the deal will go through.