The Viacom office is seen in Hollywood Los AngelesMore
14 August, 2019, 04:42
The merger creates a company with roughly $30-billion market value, which is still small compared to rivals including Netflix Inc (NFLX.O), at $136 billion, ABC network owner Walt Disney Co (DIS.N), at about $245 billion, and NBC owner Comcast Corp (CMCSA.O) at $193 billion. CBS shareholders will own around 61% of the combined company, while Viacom shareholders will take 39%.
Viacom owns Paramount Pictures and pay TV channels such as Comedy Central, MTV and BET, while CBS has a broadcast network, television stations, Showtime and a stake in The CW over-the-air network.
Viacom's Chief Executive Robert Bakish will lead the new company, which will be called ViacomCBS.
Both CBS Corp. and Viacom have always been controlled by Sumner Redstone, 96, and more recently his daughter, Shari, 65, through their family's privately owned company, National Amusements, which operates movie theaters in the USA, United Kingdom and Latin America. "Our unique ability to produce premium and popular content for global audiences at scale - for our own platforms and for our partners around the world - will enable us to maximize our business for today, while positioning us to lead for years to come". Moonves apparently wanted his protégé at CBS, Joe Ianniello, to succeed him, while Bob Bakish, the head of Viacom, was seen as Redstone's choice. ViacomCBS has a number of top platforms under its purview, including CBS's successful catch-up service and SVOD CBSAll Access, as well as newly acquired AVOD platform Pluto TV, along with niche products such as CBSN, ET Live and Noggin. It is unlikely that CBS-Viacom could itself become an acquisition target, given how potential acquirers nearly all have their hands full with their own big purchases. Together, they will own more than 140,000 TV episodes and 3,600 film titles.
Shweta Tiwari’s husband Abhinav Kohli granted bail
She even mentioned that her step-father has never physically molested her or touched her inappropriately. She further said that numerous people reading the news, fortunately, have not dealt with domestic abuse.
Each Viacom Class A voting share and Viacom Class B non-voting share will convert into 0.59625 of a Class A voting share and Class B non-voting share of CBS, respectively, the companies said. The deal would close by December 31, pending any regulator approvals. As more consumers cut the cable cord, media companies are racing to come up with new ways to get their programs to viewers.
CBS shares gained 0.8% to $48.41 as of 9:40 a.m.in NY on Tuesday, while Viacom rose 0.3% to $28.62.
"The combined company will have the best of both worlds, premium US programming that seamlessly travels across borders and hundreds of thousands of hours of locally produced worldwide programming, all available with the click of a button", he said.
The third attempt at a merger since 2016 is a decisive win for Shari Redstone, whose father built the companies through a series of mergers and then broke them apart 13 years ago. CBS under longtime chief Les Moonves became more profitable and Viacom struggled, hurt by weakness in its Paramount studio and people dropping cable in favor of streaming. Through CBS and Viacom's shared passion for premium content and innovation, we will establish a world-class, multiplatform media organization that is well-positioned for growth in a rapidly transforming industry. The latter was forced out in September 2018 amid accusations of sexual harassment.
The Cowboys and Dak Prescott apparently aren't close on a new deal, but how far apart they are remains a question. Dallas Cowboys quarterback Dak Prescott is reportedly seeking a contract extension worth $40 million a year.
Searching the Contacts app under certain circumstances enables the iPhones and iPads to run malicious code, reports AppleInsider . But the Google hackers quietly shared the details with Apple, which fixed the flaws before the details were made public.
The sale will last for 30 minutes or until the Never Ending Pasta Passes sell out, whichever happens first. In 2018, Olive Garden provided the twist of selling a second pass, good for a full year, for $300.
"Possibly the worst 30 minutes of my life, followed by the best 30 minutes of my life", smiled Chadwick of her afternoon. She never qualified lower than third throughout, and celebrated an emotional victory in parc ferme with her family.
Johnson. "Most people are trying to avoid having trade deals with the US because they think they'd be disadvantageous", he said. Yesterday Mr Johnson updated US President Donald Trump on Brexit during a phone call, Downing Street said.
As mentioned earlier, Google is looking to extending that same functionality towards some of its web services on Chrome. Passwords can't go away fast enough, and if you're the family tech support guy or gal I'm sure you'd agree.
Hur Mi-jung won the Ladies Scottish Open in North Berwick, Scotland on Sunday , ending a five-year LPGA win drought. Carly Booth, the 2012 victor , finished as leading Scot in joint-ninth after a closing 71 for 274.
Bolsonaro has cast himself as foe to the left-wing leaders around Latin America and celebrated his friendship with Macri. Argentina's credit default swap - or the cost of hedging bonds against sovereign default - soared to a multiyear high.
In a 21-second video, Her Royal Highness Queen Olivia Colman has announced the release date for The Crown season 3. Gillian Anderson will also reportedly be joining the fold as former Prime Minister Margaret Thatcher .
African footballers mourn DJ Arafat
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Minecraft Super Duper Graphics Pack fans just got 4K burned
It was E3 in 2017 when Mojang announced that they were going to take the bold, nay daring, step of making Minecraft look good. According to a Minecraft representative, "the pack proved too technically demanding to implement as planned".
Body found in Sydney after stabbing incident
NSW Police confirmed one victim, a young woman, was stabbed in a hotel near Clarence St and King St in the central city. Police officers investigate a scene following reports of a stabbing in Sydney , Australia on August 13, 2019 .
Iraq slams Israel participation in Gulf naval mission
Britain said last week it would join the mission, while no other USA allies have committed themselves so far. The United States wants an global coalition to monitor and potentially escort commercial ships there.