saw revenue dip and swung to red for the last three months of 2019, which CEO Bob Bakish called a “transitional” fourth quarter that is the first for the company since it merged in December.
The company said merger-related expenses and various operating items weighed on the numbers but are expected to be mitigated through the benefits of the combination. Wall Street and Hollywood are both looking to the numbers – and associated commentary – for insight into the new entity’s direction from streaming strategy to executive appointments to cost cutting initiatives.
A disruptive period of scandal, turmoil and lawsuits behind it, the executive ranks have changed. Les Moonves has long gone down in flames. Longtime top CBS executive Joe Ianiello will also exit in March as CEO Bob Bakish brings in George Cheeks, the former vice chairman of NBCUniversal Content Studios.
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