After three years of negotiations, CBS and Viacom are coming together to form a new $30 billion company, controlled by Shari Redstone and cementing her status as possibly the most influential woman in media.market and the rise of digital streaming services have changed the economics of the entertainment industry and pressured media companies to either grow larger or sell themselves off.
"Will they be big enough?" said Jessica Reif Ehrlich, senior media and entertainment analyst at Bank of America Merrill Lynch."It may enhance the strategic positioning of CBS-Viacom, but will it be enough? Scale matters.” “Shari is going to put it back together again,” said Mario Gabelli, founder and chief executive of Gabelli Asset Management Company Investors, one of the biggest holders of the preferred shares in CBS and Viacom.The newly merged company will house a host of valuable media assets.
Together, they will control around $11 billion in advertising revenue and become a formidable negotiating force when it comes to gaining distribution with cable and satellite partners. In some cases, they will have significantly more bargaining power, because distributors might be more reluctant to drop Viacom and CBS, which airs NFL programming.
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:
It's basically a 2nd marriage.
God I hope I don’t have to see BBT on Comedy Central, I’ll die.
Yay!! Bigger Better B-S!!
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBS-Viacom merger is very close, says NYT media reporter Ed LeeCBS and Viacom are getting closer to a merger deal that would bring the companies together under Shari Redstone's National Amusements corporate umbrella. New York Times corporate media reporter Ed Lee joins 'Squawk Box' to discuss. SquawkCNBC Made a small typo on the 'Viacom Brands' graphic. Spike is now known as Paramount Network. SquawkCNBC If you like to keep score, here's the change in Dow Jones Industrial Average from Inauguration Day to Aug 12 of their 3rd year in the White House: GHWB: +34.2% Clinton: +42.4% GWB: -11.9% Obama: +41.7% Trump: +30.1%
Source: CNBC - 🏆 12. / 72 Read more »
CBS-Viacom Merger Imminent As Sides Agree On PriceCBS and Viacom have agreed to a price for their long-awaited merger and plan to formalize the deal with an announcement after the close of trading today, sources tell Deadline. The “exchange ratio”…
Source: DEADLINE - 🏆 109. / 63 Read more »
CBS and Viacom Strike Deal for Long-Thwarted MergerCBS and Viacom agreed to merge in a deal that would reunite mogul Sumner Redstone’s media empire in the hopes of creating a more formidable competitor to the entertainment industry’s giants. This should be illegal but whatever we’re living in a fantasy land with no rules at this point anyway increased M&A activity is bearish right? I know several CBS Executives that were pushed out because they were hired by Les. One worked there for 20 years, it's a disgrace what they did. The company literally pushed people out, gave them fake Development Deals for shows they'll never buy. A corporation built on revenge.
Source: WSJ - 🏆 98. / 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 »