Viacom-CBS Merger: Not Everyone Is Feeling The ViacomCBS Love

to “underperform,” lowering his 12-month price target on the shares. “What a shame,” he lamented of the deal, using the phrase as the title of his note to clients. “We believe whatever synergies are produced will pale in comparison to CBS shareholders investing Viacom’s structural problems,” he wrote.

Juenger, it should be noted, did not represent the majority view from Wall Street analysts, whose sentiment generally on the companies has been neutral to positive lately., the noted fund manager and CNBC regular whose company, Gamco, owns 9% of Viacom voting. In a discursive, oddly punctuated series of tweets, Gabelli seemed to suggest legal consequences are in store for the merger.

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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…
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