For Redstone, the deal is a vindication of her instinct to reunite the companies and comes after a lengthy period of difficulty at each company and with her father, Sumner Redstone, who is now 96. She occupies a rare position of power and equity ownership for a woman in the entertainment industry. “I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets,” she said in the official announcement.
help accelerate that progress. I look forward to all we will do together as we build on our ongoing success. And personally, I am pleased to remain focused on CBS’s top priority – continuing our transformation into a global, multiplatform, premium content company.” The drumbeat had been getting louder for a merger in recent weeks, and the conditions for an amicable arrangement have grown more favorable. The boards of both companies held talks through last weekend in a final push. Fresh perspective may have helped: Most members of the CBS board joined as directors in the past year as the company looked to reset its culture and direction in the wake of former CEO’ ouster.
CBS and Viacom split in 2006, under the theory that more value would be unlocked by “freeing” Viacom from the then-sluggish, broadcast-heavy CBS shares. The roles soon reversed, however, with CBS riding its top-rated broadcast network, surging Showtime and growing digital portfolio to become the better-performing of the two stocks. Viacom’s cable-heavy set of assets, which minted money from the 1980s to the 2000s, began to hit turbulence this decade.
This is great news for Star Trek fans! No more brand separation!
Since everyones new favourite word is “monopoly” are we not going to discuss CBS-Viacoms new “monopoly” of TV channels & numerous different streaming services? Or do we just reserve that word for Disney? Lol
Yay capitalism...
Yay 😀
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Source: Variety - 🏆 108. / 63 Read more »