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Will CBS be bought?
Completion (August 2019–December 2019) On August 13, 2019, CBS and Viacom officially announced their merger; the combined company is named ViacomCBS; Shari Redstone serves as the chairwoman of the new company.
Did CBS buy Viacom or did Viacom buy CBS?
Viacom has reached a deal to acquire CBS for US$34.5 billion in what the companies called “the biggest media transaction ever.” Under the deal, CBS shareholders will receive 1.085 shares of Viacom Class B shares for each share of CBS (CBS).
Is ViacomCBS a takeover target?
Steven Cahall, Wells Fargo senior equity analyst, joins ‘TechCheck’ to discuss the outlook for ViacomCBS and the potential for more dealmaking in the streaming space.
Who controls ViacomCBS?
ViacomCBS Domestic Media Networks
| ViacomCBS Domestic Media Networks headquarters at One Astor Plaza in New York City | |
|---|---|
| Owner | Independent (1977–1986) National Amusements (1986–present) |
| Parent | Warner Communications (1977–1985) American Express (1979–1985) Viacom (1985–2006, 2005–2019) ViacomCBS (2019–present) |
When did CBS and Viacom split?
January 3, 2006
On January 3, 2006, Viacom was split into two companies: CBS Corporation, the former’s corporate successor and the spun-off Viacom company.
Why did CBS acquire Viacom?
The Federal Communications Commission forced CBS in 1970 to spin off the company that became Viacom after ruling that television networks couldn’t have financial stakes in shows they aired.
Why did Viacom merge with CBS?
The Federal Communications Commission forced CBS in 1970 to spin off the company that became Viacom after ruling that television networks couldn’t have financial stakes in shows they aired. CBS and Viacom got together again in 1999 thanks to Media Mogul Sumner Redstone.
Who owns Viacom?
National Amusements
Viacom/Parent organizations
Who owns Viacom media?
ViacomCBS
ViacomWarnerMedia
ViacomCBS Domestic Media Networks/Parent organizations
Why did Viacom and CBS split in 2005?
2005 split and re-merger of CBS and Viacom In March 2005, the company announced plans of looking into splitting into two publicly traded companies under the continuing ownership of National Amusements because of a stagnating stock price.
What happened to Viacom Inc?
Viacom was split into the second CBS Corporation and Viacom incarnations, and ceased operations in 2006. The two companies eventually re-merged on December 4, 2019, leading to the operations of the current ViacomCBS.
Where is Viacom based?
New York City
The networks’ headquarters are located in New York City and London.
What happened to the CBS-Viacom merger?
She urged CBS and Viacom to merge in 2016 but withdrew her proposal in the wake of opposition from CBS CEO Les Moonves. Two years later, CBS rejected Redstone’s merger plan a second time. After Moonves was ousted amidst allegations of sexual misconduct, the merger was back on track.
How much is Viacom worth?
At an agreed upon exchange ratio of .59625, Viacom is valued at about $12 billion. A combined company will have an enterprise value of about $50 billion.
Will ViacomCBS be bigger than Disney and Comcast?
No. The combined companies will have a combined market capitalization of about $26 billion, orders of magnitude smaller than rivals, including Walt Disney ($274 billion) and Comcast ($197 billion). It isn’t a question of “if” ViacomCBS makes a deal but “when” and “how much.”
Is Shari Redstone looking to add scale to Viacom?
Shari Redstone, vice chairman of both CBS and Viacom, would like to keep adding scale to CBS-Viacom, sources say. Redstone may look at companies including Discovery, Sony Pictures, Lions Gate and Univision to give herself a bigger balance sheet to buy content, including expensive sports rights.