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.
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!!
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