CBS and Viacom Have Merged but Questions Remain About Company’s Future

Published on Dec 05, 2019

The long-awaited merger of CBS Corporation and Viacom will officially close late Wednesday, concluding media mogul Shari Redstone’s three-year battle to reunite the two companies.

The entertainment industry’s newest conglomerate owns entities such as Paramount Pictures, Showtime, Bet, Nickelodeon, MTV, Comedy Central, and CBS News. ViacomCBS also controls several streaming services, including CBSAll Access and Pluto TV, and jointly operates The CW networks with the AT&T-owned WarnerMedia.

Although the merger put several notable properties under one corporate roof, Wall Street hasn’t taken kindly to the deal. Shares of both companies have declined since the deal, worth approximately $12 billion, was announced in August. The new company, valued at roughly $25 billion, will begin trading Thursday.

Part of the subdued response in the financial markets may be the result of the numerous questions that still remain about the new entity. Though last month ViacomCBS appointed several corporate executives,

Read full article at: Indiewire

Author: Tyler Hersko