CBS and Viacom reunite in merger
Getting back together after all these years
After splitting in 2006, Viacom and CBS have finalised re-merger talks which will see the combined company go by the name of ViacomCBS Inc.The new company will have combined annual revenues of $28 billion and is being presented as a global, multiplatform, premium content production company with significant presence in markets across the US, Europe, Latin America and Asia.
The two companies have an entwined history with Viacom actually spinning out of CBS, a long standing television US TV and radio network, in the early 1970s before acquiring control of CBS in 2000 and then splitting from them in 2005.
This latest deal sees a re-merger and the creation of an entity able to provide content for its own platforms as well as third parties.
UK viewers will be familiar with both companies in the form of MTV, VH1, Nickelodeon and National Geographic channels from Viacom and a range of channels from CBS including the currently branded CBS Reality, CBS Drama, CBS Action and CBS Horror channels. Other recognised brands in ViacomCBS Inc’s portfolio include Showtime, Comedy Central and Paramount Network as well as a huge library of iconic intellectual property spanning all genres and suitable for all age groups. This includes 140,000+ TV series episodes and over 3,600 movies including the Star Trek and Mission Impossible franchises.
At the time of the merger, the new company will have over 750 TV series ordered or about to begin production and it will also have the legendary Paramount Pictures film studio under its wing. Recent high profile Paramount movies include; A Quiet Place, Arrival, Jack Reacher: Never Go Back, Overlord and Rocketman.
The newly formed ViacomCBS Inc will emerge as a company with one of the largest content production budgets with over $13 billion spent in the last 12 months, rivaling the likes of Netflix.
Information regarding upcoming projects is scarce but the combined company will be in a stronger position to deal with the newly emerging streaming landscape in which content will play a large part in attracting consumers.
Bob Bakish, President and CEO, Viacom, will become President and CEO of ViacomCBS said in a statement, “Today marks an important day for CBS and Viacom, as we unite our complementary assets and capabilities and become one of only a few companies with the breadth and depth of content and reach to shape the future of our industry.”
How do AVForums members feel about these sorts of corporate dealings? Do you think they affect the quality of the content or are they a distraction the consumer need not pay attention to?
Source: www.advanced- television.com, www.wikipedia.com
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