CBS and Viacom finally merged.
After 3 years of negotiations “Shari Redstone” was able to control lead the merge and constitute a company of $30 billion by bringing two of the biggest companies to create a global, multiplatform, premium content powerhouse.
the merger comes after a market rise in the digital streaming services that affected the economy of the entertainment Industry and pushed some media companies to grow up such as Netflix, This collaboration between CBS and Viacom open a lot of exciting opportunities in order to be a leader of the future of the entertainment industry.
This merges could bring the most famous Hollywood studios and huge brands that have developed the culture for many decades.
The Tiffany Network CBS, Simon & Schuster, and Showtime are pushing the storytelling to the limit with a most innovative diversified collection of digital assets in the industry.
A senior media and entertainment analyst at Bank of America Merrill Lynch said to NBCNews. “It may enhance the strategic positioning of CBS-Viacom, but will it be enough? Scale matters.”
ViacomCBS Now will be headed by the Viacom Chief Executive Bob Bakish with Joseph Ianniello, now the acting CEO of CBS, becoming chairman and CEO of CBS, according to a statement from the company.
President and CEO of Viacom Bob Bakish say:
“BOTH OF OUR COMPANIES SHARE A PASSION FOR CREATING PREMIUM CONTENT AND A COMMITMENT TO INNOVATING THROUGH A RAPIDLY SHIFTING MEDIA LANDSCAPE.”
This merge of ViacomCBS will allow them to face with heavyweight rivals like Amazon, Disney, Hulu and many such as WarnerMedia’s HBO Max Comcast’s NBCUniversal.