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Tue Aug 13, 2019, 02:17 PM

CBS and Viacom Reunited in Deal That Marks Ascendance of Shari Redstone

Source: New York Times



After more than a decade apart, CBS and Viacom agreed to merge on Tuesday in a deal that will reunite a roster of once-mighty media businesses. Viacom's Paramount film studios and MTV and Nickelodeon cable networks will be added to the broadcast giant CBS and book publisher Simon & Schuster. Viacom Chief Executive Robert M. Bakish will lead the combined company, which will be called ViacomCBS, and Joseph Ianniello, the CBS acting chief executive, will remain as head of a newly designated CBS unit, the boards of both businesses said in a statement.

The combination of CBS and Viacom is a victory for Shari Redstone, the leader of a family business that controls both. She had pushed for a deal for at least three years but faced fierce opposition from CBS's board, including its former chief executive, Leslie Moonves. Mr. Moonves was pushed out last September after several women accused him of sexual assault. He has denied the charges. Ms. Redstone will be chairwoman of the combined company.

The merger is what is known as a stock swap, and values Viacom at about $11 billion as of Monday's closing price. Under the swap, an investor with 1,000 shares of Viacom would receive 596.25 shares of CBS. CBS shareholders will in effect own about 60 percent of the combined business. The deal doesn't include any cash, making it a tax-free transaction.

The two companies were once a single entity, called Viacom, until they were cleaved apart in 2006. Their reunification was seen as necessary at a time when audiences across television have eroded. Tech platforms like YouTube, Instagram and Netflix have chipped away at big media, eating into the once-fat profits that companies like CBS and Viacom enjoyed.



Read more: https://www.nytimes.com/2019/08/13/business/cbs-viacom-merger.html



Had to do a quick search to confirm but this is Sumner Redstone's daughter.

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Reply CBS and Viacom Reunited in Deal That Marks Ascendance of Shari Redstone (Original post)
BumRushDaShow Tuesday OP
exboyfil Tuesday #1
MicaelS Tuesday #2
bucolic_frolic Tuesday #3
Tikki Tuesday #4
MicaelS Tuesday #5

Response to BumRushDaShow (Original post)

Tue Aug 13, 2019, 02:50 PM

1. Another streaming media player

Netflix/MillarWorld
Warner/HBO/DC
Disney/ABC/Hulu/Marvel/20th Century Fox
Comcast/NBC/Universal
Viacom/CBS All Access/Paramount
Amazon Prime

Sony Crackle/PlayStation/Columbia appears to be fading. I can't help but think an alliance or purchase with Netflix might make sense.

Fox television is also dangling in the wind. They lost their production studio in the Disney buy out.

CW is joint Sony/Warner.

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Response to BumRushDaShow (Original post)

Tue Aug 13, 2019, 03:20 PM

2. Good news for Star Trek.

Now there will probably new movies in the Prime Timeline, instead of the Kelvin timeline.

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Response to BumRushDaShow (Original post)

Tue Aug 13, 2019, 04:07 PM

3. Where are the trustbusters

when you need them. CBS hasn't been the same since Jesse Helms tried to take it over

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Response to BumRushDaShow (Original post)

Tue Aug 13, 2019, 07:21 PM

4. Can we get a real Star Trek back, please.



Tikki

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Response to Tikki (Reply #4)

Tue Aug 13, 2019, 07:29 PM

5. We will.

No longer any need for the Kelvin Timeline.

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