Television

CBS, Viacom merge to form ViacomCBS Inc

Bob Bakish to lead the company as president and CEO

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2019/08/14/Bob-Bakish.jpg?itok=2KPUZ9jT

MUMBAI: US-based media and broadcasting companies, CBS and Viacom, have announced the news of a merger into Viacom CBS Inc. While Viacom will hold approximately 39 per cent of the shares, CBS will own about 61 per cent on a fully diluted basis.

The all-stock merger creates a combined company with more than $28 billion in revenue, as suggested by media reports.

Erstwhile CEO of Viacom, Bob Bakish will lead the new entity as president and CEO.

Media proprietor and chairman & CEO of CBS Joseph Ianniello will continue in his role.

Other key employments include Christina Spade as executive VP and chief financial officer, and Christa D’Alimonte as executive VP, general counsel and secretary.

The board of directors will consist of 13 members: six independent members from CBS, four independent members from Viacom, the president and CEO of ViacomCBS and two National Amusements designees. Shari Redstone will be appointed chair.

Bakish said, “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. 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 maximise our business for today, while positioning us to lead for years to come. As we look to the future, I couldn’t be more excited about the opportunities ahead for the combined company and all of our stakeholders—including consumers, the creative community, commercial partners, employees and, of course, our shareholders.”

Ianniello said, “This merger brings an exciting new set of opportunities to both companies. At CBS, we have outstanding momentum right now—creatively and operationally—and Viacom’s portfolio will help accelerate that progress. I look forward to all we will do together as we build on our ongoing success. And personally, I am pleased to remain focused on CBS’s top priority—continuing our transformation into a global, multiplatform, premium content company.”

Vice chair of the boards of directors for CBS and Viacom Shari Redstone said, “I am really excited to see these two great companies come together so that they can realise the incredible power of their combined assets. My father once said ‘content is king,’ and never has that been more true than today. Through CBS and Viacom’s shared passion for premium content and innovation, we will establish a world-class, multiplatform media organisation that is well-positioned for growth in a rapidly transforming industry. Led by a talented leadership team that is excited by the future, ViacomCBS’s success will be underpinned by a commitment to strong values and a culture that empowers our exceptional people at all levels of the organisation.”

The combined entity will house a portfolio of consumer brands, including CBS, Showtime, Nickelodeon, MTV, BET, Comedy Central and Paramount Network, as well as one of the largest libraries of IP, spanning every key genre and addressing consumers of all ages and demographics. This library comprises 140,000-plus TV episodes and 3,600-plus film titles. The combined company will also have more than 750 series currently ordered to or in production.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/16/today.jpg?itok=JaupdwxR
India Today Group Digital is the No. 1 Destination for General News Consumption

India Today Group Digital has established its dominance in the news genre across all digital platforms (Desktop, mWeb, App). The latest Comscore September 2019 insights titled ‘Trends in Online News Consumption’ highlight India’s love for online news and, that Indians consume news content more than...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/14/kodeshwari.jpg?itok=e8x5J5dX
Colors Tamil ropes in six sponsors for ‘Kodeeswari’; premiere on Dec 23

MUMBAI: Colors Tamil and Studio Next are all set to premiere the all-women edition of ‘Kodeeswari’ from December 23 at 8 pm onwards every Monday to Friday. The show has also roped in brands like Nippon Paint, Arun Excello and RIN along with Kotak Mahindra Bank as Banking Partner and Tamil Matrimony...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/14/trrr.jpg?itok=SUvTvELe
Trivago back as top brand in BARC week 49 ranking

MUMBAI: The Broadcast Audience Research Council (BARC) of India has released its data for top advertisers and brands for the period between 30 November 2019 to 6 December 2019 The data reflects the top 10 advertisers and brands across genre on Indian television, including OOH screen, (U+R): 2+,...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/14/sonysab.jpg?itok=5cXCEEkr
Sony SAB brings ‘Khushiyon Wala New Year’ contest for viewers

MUMBAI: Sony SAB has been spreading happiness all across the country. Based on its deep understanding of the pulse of real India, Sony SAB, one of the leading Hindi General Entertainment Channels in India, has steadily created a niche for itself through captivating shows and characters, all geared...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/14/cnn.jpg?itok=nfqNQUQd
CNN-News18 brings eighth edition of talk show ‘The Bollywood Roundtables' with Rajeev Masand

MUMBAI: CNN-News18 will telecast the eighth edition of its award winning talk show ‘The Bollywood Roundtables’. Hosted by the Entertainment Editor and renowned critic Rajeev Masand, the show is a year-end omnibus on bollywood and features India’s finest filmmakers, actors and artists who are behind...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/13/star_sport.jpg?itok=-cCxKmKi
Star Sports announces special programming for Vivo IPL 2020 player auction

Mumbai: After a successful and nail-biting vivo IPL 2019, the much-awaited cricketing tournament of the year is back with the auctions. Star Sports, India’s leading sports broadcaster and global rights holder of the vivo IPL has planned unmatched viewing experience for fans, that includes live...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/13/balveer.jpg?itok=ulTqKKWA
Sony SAB's Baalveer ranks 7th on Google’s most searched TV shows in 2019

MUMBAI: Sony SAB’s fantasy drama ‘Baalveer’ which has captured the imagination of audiences across the country with its fascinating storyline, has also earned the distinction of being named as the most searched Indian television show across the world according to Google’s annual trends report ‘Year...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/13/movies.jpg?itok=Gz-msgal
Movies NOW gives its viewers 100 reasons to celebrate this festive season with 100 Mania

MUMBAI: Movies NOW, Home to Superheroes announces the 7 th  season ofits marquee property, 100 Mania. In its new season, a lineup of 100 mega blockbuster films has been curated, giving viewers #100Reasons Why they don’t want to miss the best of Hollywood titles and win unmatched prizes.

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/13/star_0.jpg?itok=6ZASOgiP
K Madhavan to head all Star TV businesses; Uday takes charge of Hotstar

MUMBAI: Ten years ago when Uday Shankar was looking for a professional to be his deputy in Star India, he looked outside and roped in Sanjay Gupta a long term Hindustan Lever professional. Circa 2019,  Shankar did not look for an external executive to replace Gupta who is slated to move onto Google...

Television TV Channels People

Sign up for our Newsletter

subscribe for latest stories