ViacomCBS Chief Bob Bakish Tells Investors Merger Removes “A Big Uncertainty”

once the merger closes, stressed during a 40-minute investor call Tuesday that the reality of the deal transforms the operating environment. “It takes a big uncertainty off the company, which has been an overhang,” Bakish said. Both companies, he added, enter the marriage on an upswing. “One of the benefits is going to be the financial shape that we’re going to be in,” Bakish said.

Bakish was asked about a common theme of investor and media speculation — whether ViacomCBS will continue to pursue deals to increase scale. CBS held talks with Lionsgate about acquiring Starz, but talks broke off over price. Bakish did not address Starz but he said the plan will be to remain opportunistic. “Both of us continue to look at opportunities in the marketplace,” he said. “That’s something we are going to continue to do.

Executives said they expected the transaction to close by the end of 2019, subject to regulatory approval., the acting CEO of CBS who will remain in the new role of Chairman and CEO of CBS, opened his scripted remarks on the call by saying he had gone back to study the expected benefits of the 1999 merger of CBS and Viacom. “I was amazed by how many of them apply today,” he said.

Bakish, in a line seemingly designed to emphasize harmony in the new C-suite, noted that he and Ianniello have known each other as colleagues “for 20 years.”

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: Read the Internal Memos From Top Execs Bob Bakish and Joe IannielloIt’s official: CBS and Viacom are merging, in what has been newly christened ViacomCBS Inc. Read the internal memos being circulated by the top execs at both companies. Here is the full memo …
Source: Variety - 🏆 108. / 63 Read more »

Viacom-CBS Merger: Read The Memos From Bob Bakish And Joe IannielloCementing the long-awaited merger of CBS and Viacom, the heads of each company, Bob Bakish at Viacom and Joe Ianniello at CBS, conveyed the news to their troops without sugarcoating the “chal…
Source: DEADLINE - 🏆 109. / 63 Read more »

CBS and Viacom have agreed to become ViacomCBS, as part of a deal to reunite the media companies after 13 yearsCBS and Viacom to an all-stock deal that would create a media company with about $28 million in revenue, the companies announced on Tuesday. There’s hope for Liam and Miley then
Source: BusinessInsider - 🏆 729. / 51 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 »

Viacom-CBS Merger: Read The Memos From Bob Bakish And Joe IannielloCementing the long-awaited merger of CBS and Viacom, the heads of each company, Bob Bakish at Viacom and Joe Ianniello at CBS, conveyed the news to their troops without sugarcoating the “chal…
Source: DEADLINE - 🏆 109. / 63 Read more »