I’m writing today to share some big news. We just announced an agreement to merge with CBS, bringing together our two great companies to create a leading global, multiplatform, premium content powerhouse.
Our combined company – which will be called ViacomCBS – will have a library of content with incredible breadth and depth, and a reinforced capability to produce premium and popular content at scale. We’ll have greater reach, strengthening our position with advertising and distribution partners. We will have an extended portfolio of direct-to-consumer products — both ad-supported and subscription-based — that will accelerate our growth.
Combining our companies will be a joint effort. Over time, we expect there will be opportunities to bring our teams together with our peers at CBS, so we can begin identifying ways to work together and learn from each other. One change we already know will happen is that Wade Davis will depart in connection with the closing of the transaction, as we’ve determined there isn’t a senior operating role at the corporate level of the merged company that would be consistent with the full breadth of his experience, expertise and the scope of his current role at Viacom.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From ‘Star Trek’ to ‘SpongeBob,’ Here’s All the Content in Play For CBS-Viacom MergerHollywood’s landscape has changed dramatically since Viacom and CBS were last married in 2005. Now that the two media giants seek a Wall Street reunion, there are endless possibilities for th… Now I patiently wait for the StarTrekLowerDecks / SpongeBob crossover episode
Source: Variety - 🏆 108. / 63 Read more »
CBS And Viacom Stocks Both Sink As Merger Deal Nears Close – UpdateUPDATED with closing stock prices. Shares of CBS slipped 2% after early gains and Viacom’s dropped 5% Monday as investors reacted to word that the companies were near the finish line in their…
Source: DEADLINE - 🏆 109. / 63 Read more »
CBS-Viacom Merger Targets $500M in Cost Savings, But From Where?Legal, finance, human resources, government relations, communications and technology operations will likely be combined to provide savings. Its a bloated mess. Will take them years to streamline and create the proper infastrucure.
Source: THR - 🏆 411. / 53 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 »
Jim Gianopulos Inks Multi-Year Deal As Paramount Boss Prior To CBS-Viacom MergerBREAKING: Ahead of the CBS-Viacom merger, Viacom has re-upped Paramount Pictures Chairman and CEO Jim Gianopulos to a new, multi-year contract. In addition, Paramount’s current production president…
Source: DEADLINE - 🏆 109. / 63 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 »