|Bid||25.95 x 900|
|Ask||26.00 x 900|
|Day's Range||25.95 - 26.30|
|52 Week Range||23.31 - 34.44|
|Beta (3Y Monthly)||0.99|
|PE Ratio (TTM)||6.42|
|Earnings Date||Nov 14, 2019 - Nov 18, 2019|
|Forward Dividend & Yield||0.80 (3.08%)|
|1y Target Est||34.79|
Aug.14 -- Mario Gabelli, Gamco Investors Inc. chairman and chief executive officer, explains why he is exploring legal action against Viacom Inc.'s merger with CBS Corp. He speaks with Bloomberg's Scarlet Fu and Caroline Hyde on "Bloomberg Markets: The Close."
Bernstein downgrading CBS to underperform from market perform, as the firm thinks CBS will lose more from inheriting Viacom’s structural problems than it will gain from any synergies.
Aug.14 -- Viacom Inc. President and Chief Executive Officer Bob Bakish discusses the agreement to merge with CBS Inc., reuniting the two media giants that split in 2006. He speaks with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
CBS and Viacom have finally agreed on terms for a merger, with the new company to be called ViacomCBS, led by Viacom CEO Bob Bakish. Yahoo Finance's Dan Roberts, Heidi Chung, and Sibile Marcellus discuss how the newly formed company will compete in the streaming landscape.
Some 60% of the combined company’s profits will come from traditional TV networks. That’s a tough sell in the age of streaming.
On CNBC's "Mad Money Lightning Round," Jim Cramer said he likes Penn National Gaming, Inc (NASDAQ: PENN ) at its current price. He wouldn't sell the stock, but he wouldn't double down either. ...
You never really know what someone is focusing on ahead of time during the Lightning Round on Mad Money but the recent news of Viacom and CBS Corp. made yesterday's call somewhat predictable. Let's go back again to charts of VIAB. In this updated daily bar chart of VIAB, below, we can see that prices quickly decline to the $26 area but did not break the March low.
Hello from Washington, where things have gone quiet, with the US Congress in recess and the president on holiday at his New Jersey golf course. Then I headed to Des Moines, where the Democratic presidential candidates have been wooing voters over corn dogs at the Iowa State Fair and a rowdy annual fundraising dinner called the Wing Ding. Meanwhile, my colleagues this week have been covering the clashes between protesters and police at Hong Kong airport, WeWork’s plans for a blockbuster initial public offering and climate activist Greta Thunberg’s transatlantic ambitions.
NEW YORK , Aug. 15, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Viacom, Inc. ("Viacom" or ...
This week, Viacom (VIAB) and CBS (CBS) agreed to merge to form a new media entity, ViacomCBS. That merger could affect Netflix in several ways. With their merger, Viacom and CBS aim to become a major player in the video streaming market. Viacom CEO Bob Bakish, who is set to lead ViacomCBS, said in an […]
In 1989, when I was 17, I quit Kent, ran off to London and started living in a squat with my boyfriend. , I met the photographer Corinne Day, who encouraged me to continue taking photographs of everything I was experiencing.
Wall Street analysts are taking a wait-and-see approach to the long-anticipated merger CBS Corporation (NYSE: CBS)-Viacom, Inc. (NASDAQ: VIAB) merger, questioning whether the combined companies will create a more profitable global streaming business together than each could have built on their own. BMO Capital Markets analyst Daniel Salmon downgraded CBS from Outperform to Market Perform and lowered the price target from $60 to $51. Barrington Research analyst James Goss reaffirmed an Outperform rating on CBS with a target price of $60.
After months of negotiations, CBS and Viacom have finally agreed to an all-stock merger, which will lead to the creation of a combined company with more than $28 billion in revenues.
CBS and Viacom have finally reached a merger agreement after a prolonged period of closed-door negotiations, but not everyone on Wall Street is convinced the deal is the best move for the two companies.
CBS Corp.’s pending reunification with Viacom Inc. is eliciting strong reactions on Wall Street, with at least two analysts downgrading CBS’s stock after the merger announcement and one upgrading it.
CBS Corporation (NYSE: CBS ) confirmed a merger agreement Tuesday with its sister company Viacom, Inc. (NASDAQ: VIAB ). CBS and Viacom share the same parent company, National Amusements, which is controlled ...
Moody's Investors Service ("Moody's") placed CBS Corporation's (CBS) ratings, including its Baa2 senior unsecured rating and P-2 Commercial Paper rating, on review for downgrade following the announcement that it has entered into a merger agreement with Viacom Inc. (Viacom) (Baa3 under review for upgrade). On August 13, CBS and Viacom agreed to merge in an all-stock transaction.
Shares of both CBS and Viacom fall sharply Wednesday, a day after the media giants formally revealed their $30 billion tie-up, after an influential analyst at Bernstein downgrades CBS and cuts his 12-month price target in a note titled, 'What a shame.'
(Bloomberg) -- During her trip to the Allen & Co. mogul retreat in Sun Valley, Idaho, this summer, Shari Redstone prowled the grounds with just one executive from the media empire she controls: Jim Lanzone, CBS’s chief digital officer.Lanzone, who oversees dozens of web properties, helped build two businesses that will play a crucial role when CBS Corp. and Viacom Inc. complete their merger. The CBS All Access and Showtime streaming services, with more than 8 million subscribers, have delivered a rare bit of growth in a tough climate for old-line entertainment companies.Stirred to action by the unrelenting loss of pay-TV subscribers, media companies are racing to build online services that can compete with Netflix Inc. On Tuesday, Viacom and CBS announced they’ll merge, creating a $30 billion conglomerate and fulfilling a goal long-held by Redstone, who will chair the combine company. With the deal, she is reuniting parts of the empire assembled by her father Sumner and pinning her hopes on streaming to ensure the companies survive an uncertain moment in media.“Shari Redstone had a problem,” said Laura Martin, an analyst at Needham & Co. “CBS and Viacom are both sub-scale, and they are both hers.”Netflix, the biggest player in streaming, has more than 150 million subscribers, making All Access and Showtime minnows in the online world. The pioneer in streaming, Netflix offers thousands of titles, including a never-ending stream of new scripted series, movies, documentaries, specials, and a vast library of reruns.But together, Martin argues, Viacom and CBS “have a more reasonable chance of competing.”CBS has already built a small, profitable streaming business, relying on a few original scripted shows, a deep library and a live feed of its flagship network. A united ViacomCBS Inc., as the new company is to be called, will control 140,000 TV episodes and 3,600 movies, and will spend about $13 billion on programming annually, close to what Netflix lays out each year.Their combined library has breadth. CBS owns one of the largest archives of hit TV shows in the world, spanning “I Love Lucy,” “Star Trek” and “NCIS.” Viacom’s Paramount Pictures owns one of the largest movie libraries in the world, including “The Godfather” and “Mission: Impossible.” While CBS has a deep collection of sitcoms and scripted dramas, thanks to Showtime, Viacom owns kids shows through Nickelodeon.“Look at what this brings together,” Bob Bakish, who will be the chief executive officer of the combined company, said in an interview. “We have tremendous content scale here across categories, demographics, geographies.”Pluto TVBakish plans to use Pluto TV, an advertising-supported video service he acquired at Viacom, to funnel customers to the paid services. He will also bundle all of the company’s subscription services, including Viacom’s kids offering Noggin.Merging also opens international opportunities, where Netflix has an even larger lead. CBS already sells All Access in Canada and Australia, but could easily extend service to Europe and Latin America with help from Viacom’s Channel 5 in the U.K. and Telefe in Argentina.The merger isn’t without risks. Paramount is one of the weakest studios in Hollywood and has struggled to keep its library fresh with new hits. The studio accounts for just 5% of domestic box-office grosses this year.The new company may also need to take steps to keep the architects of CBS’s recent growth and other valuable executives, such as Lanzone, creative chief David Nevins, CBS Sports Chairman Sean McManus and recently appointed news chief Susan Zirinsky.And even with new heft, ViacomCBS will still be much smaller than most of its competitors. Of the major streaming services already in the marketplace or due out in the net 12 months, All Access and Showtime are the only ones owned by a company worth less than $100 billion.Over the past few years, entertainment companies and pay-TV distributors have responded to the challenges facing conventional media by consolidating into mega-corporations that dwarf CBS and Viacom. Walt Disney Co. bought most of Fox, while AT&T Inc. -- the parent of DirecTV -- purchased Time Warner, creating companies worth than $200 billion apiece. The combined ViacomCBS tips the scale at about $30 billion.Getting CrowdedThose larger companies, along with Apple Inc. and Comcast Corp., are crowding into streaming this year and next to compete with Netflix and Amazon.com Inc. That led analyst Martin to say 2020 will be “The Hunger Games” for the media industry -- a reference to the dystopian film where youngsters fight to the death.That’s why many analysts believe the CBS Viacom tie-up is just a prelude -- the first step in an effort to bulk up or cash out.“We certainly will look at opportunities in the marketplace,” Bakish said. “ViacomCBS is one of the companies that matters, and will get a valuation that fits with that.”To contact the reporter on this story: Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Three years ago, at a public event in New York, Les Moonves, the reigning king of television atop the most popular network in the US, said he did not want to combine his CBS with Viacom because he was “too old and too rich”. The reunification of the sister companies was viewed as the pesky preoccupation of Shari Redstone, scion of the powerful family dynasty who had just inherited control of the companies from her ailing father. Mr Moonves went so far as to sue her to block the deal — describing Ms Redstone in legal documents as an “interfering presence”.
Thirteen years after Sumner Redstone split his media empire in two, CBS and Viacom have agreed to recombine. For Viacom, the benefits are clear. The combined group should have greater heft negotiating ad sales, cable fees and content licensing.