The companies said they expected about $500 million in annual cost savings. ViacomCBS est un conglomérat de médias de masse multinational américaine fondée par Shari Redstone et créé le 4 décembre 2019. Bakish in an interview said that he will compete with Netflix, Disney and AT&T for subscribers and also create and sell TV shows and movies to other companies, an operation that will grow thanks to the new deal. The recombination comes amid an increasingly competitive media landscape dominated by Disney and Netflix, prompting Redstone to pursue a merger. Ianniello will report to Bakish. Nov 25, 2019. Announce Expected Closing Date of Merger. Viacom Chief Executive Bob Bakish will be the president and CEO of the combined company. Elle possède deux sièges dont un au One Astor Plaza dans la ville de Manhattan et l'autre à New York. Joe Ianniello, interim CEO of CBS, will be named chairman and CEO of CBS, which will exclude the Showtime cable network and book publisher Simon & Schuster. In 1999, Viacom made its biggest acquisition to date by announcing plans to merge with its former parent CBS Corporation (the renamed Westinghouse Electric Corporation, which had merged with CBS in 1995). Shares of Viacom rose 2.4% to $29.21 and shares of CBS rose 1.4% to $48.70 after the merger was announced. Viacom also scrapped plans to merge with CBS in 2016. It creates a company with roughly a $30 billion market value, which is still small compared with rivals including Netflix Inc NFLX.O, at $136 billion, ABC network owner Walt Disney Co DIS.N, at $245 billion, and NBC owner Comcast Corp CMCSA.O at $193 billion. “This is not a put-your-eggs-in-one-basket story,” Bakish said. Centerview Partners LLC and Lazard Frères & Co served as financial advisers to the CBS board’s special committee. Oct 17, 2019. Le conglomérat exploite environ plus de 170 réseaux et atteint l'ensemble d'environ 700 millions ménages dans les alentours de 160 pays.
CBS closed Tuesday down 1.3%, or 52 cents, to $39.34. La société s'est formée depuis la fusion des deux groupes américains CBS Corporation et Viacom le 4 décembre 2019 [3].. Annually, it is estimated to generate about $28 billion in revenue. The CBS-Viacom merger is the culmination of at least three years of discussions. ViacomCBS Announces Completion of the Merger of CBS and Viacom. The new company will be named ViacomCBS Inc, although CBS shareholders will own 61% and Viacom shareholders will own 39%. “They all work together.”. Our Standards: The Thomson Reuters Trust Principles. Shares of Viacom rose 2.4% to $29.21 and shares of CBS rose 1.4% to $48.70 after the merger was announced. CBS announced to acquire Viacom as part of the re-merger deal for up to $15.4 billion. On August 2, 2019, it was reported that CBS and Viacom agreed to merge back into one entity. Exploitation de portails de contenus TV ; La dernière modification de cette page a été faite le 21 août 2020 à 15:01. Amendment No. She urged CBS and Viacom to merge in 2016 but withdrew her proposal in the wake of opposition from CBS CEO Les Moonves. LionTree Advisors LLC and Morgan Stanley & Co served as financial advisers and Cravath, Swaine & Moore LLP as legal counsel to the special committee to the Viacom board.
The companies restarted merger talks in earnest this year after CBS replaced six members of its … ViacomCBS is one of the world’s leading producers of premium entertainment content that connects billions of people in nearly every country in the world.
Viacom Inc. and CBS Corp. announced a blockbuster $35.6 billion merger Tuesday, a move which is designed to bring the network of Dan Rather in touch with the MTV generation. Histoire. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the special committee’s legal counsel.
Two years later, CBS rejected Redstone's merger … 1 to CBS S-4 Registration Statement.
CBS and Viacom are merging to become ViacomCBS Inc., they announced Tuesday. 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 and Viacom stock have each dropped about 20% since the merger was announced in August. Bakish cannot fire Ianniello unless the ViacomCBS board approves. Le 23 juillet 2019, UBS confirme qu'une fusion entre CBS et Viacom peut rivaliser avec des concurrents tels que Disney et Netflix[4].
The merging companies are controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone and his daughter, Shari.
The merger will combine the CBS television network, CBS News, Showtime cable networks with MTV Networks, Nickelodeon, Comedy Central and the Paramount movie studios. Shari Redstone will be appointed the chairman. “My father once said ‘content is king,’ and never has that been more true than today,” Shari Redstone said in a statement. All quotes delayed a minimum of 15 minutes. Reports said that CBS and Viacom reportedly set August 8 as an informal deadline for reaching an agreement to recombine the two media companies. The merger was completed in 2000, resulting in CBS reuniting with its former syndication division.
National Amusements was advised by Evercore as its financial adviser and by Cleary Gottlieb Steen & Hamilton LLP as its legal counsel.
Viacom shareholders will receive 0.59625 CBS shares for each share they own, representing a slight premium to Viacom’s closing price on Monday.
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