Before CBS Corp. and Viacom officially started their talks about a third attempt to recombine earlier this year, some observers cited potential cost synergies of $1 billion. But when the companies finally unveiledon Tuesday, they provided a target of $500 million in cost savings from merging.
Wall Street analysts have moved towards the cost savings target unveiled by the companies in recent weeks. MoffettNathanson analyst Michael Nathanson earlier in the year worked with a $750 million synergies assumption before in mid-July citing a lower $500 million figure. So where will the cost savings come from? The deal announcement didn't provide much immediate detail. And Ianniello in a staff memo said that "Bob [Bakish] and I will ensure a smooth and steady integration of our two great companies," but didn't provide details.
Its a bloated mess. Will take them years to streamline and create the proper infastrucure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From ‘Star Trek’ to ‘SpongeBob,’ Here’s All the Content in Play For CBS-Viacom MergerHollywood’s landscape has changed dramatically since Viacom and CBS were last married in 2005. Now that the two media giants seek a Wall Street reunion, there are endless possibilities for th… Now I patiently wait for the StarTrekLowerDecks / SpongeBob crossover episode
Source: Variety - 🏆 108. / 63 Read more »
CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – UpdateUPDATED with closing stock prices. Shares of CBS slipped 2% after early gains and Viacom’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their…
Source: DEADLINE - 🏆 109. / 63 Read more »
CBS and Viacom Boards Haggle Over Price as Merger Talks AccelerateBoard members of CBS and Viacom worked most of the weekend in an effort to reach a long-awaited merger agreement for the two halves of the Redstone media empire. Sources close to the situation said…
Source: Variety - 🏆 108. / 63 Read more »
Jim Gianopulos Inks Multi-Year Deal As Paramount Boss Prior To CBS-Viacom MergerBREAKING: Ahead of the CBS-Viacom merger, Viacom has re-upped Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract. In addition, Paramount’s current production president…
Source: DEADLINE - 🏆 109. / 63 Read more »
Jim Gianopulos Signs New Multi-Year Deal as Paramount Chief Ahead of CBS-Viacom MergerViacom has signed Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract, individuals familiar with the talks told Variety. The development comes as Viacom is expected to …
Source: Variety - 🏆 108. / 63 Read more »
CBS and Viacom Shares Drop as Merger Talks Drag OnShares of CBS and Viacom were dented in trading Monday as investors awaited news of a merger agreement between the two media companies controlled by the Redstone family. Viacom shares fell 5% to cl…
Source: Variety - 🏆 108. / 63 Read more »