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CBS/Viacom Merger News and Updates

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georgiapeach:
https://www.hollywoodreporter.com/thr-esq/viacom-shareholders-get-judges-ok-to-pursue-unfairness-of-cbs-merger

Wow.

 "After carefully reviewing the complaint, I am satisfied it adequately pleads a reasonably conceivable basis to infer that the controller achieved a non-ratable benefit from the Merger to the detriment of Viacom’s public stockholders. Thus, at this stage, and without prejudice to Defendants’ right to argue otherwise on a more developed record, I am satisfied that NAI’s conduct with respect to the Merger should be reviewed for entire fairness."

The judge not only allows shareholders to take on Redstone and NAI, but also those who served on Viacom’s transaction committee who allegedly allowed themselves to become "servile tools in Ms. Redstone’s relentless pursuit of a Viacom/CBS combination to advance her interests."

The only thing that the shareholders don't get at this juncture is the go ahead to pursue Bakish as well in the lawsuit. The judge says there is not a single allegation in the complaint of wrongdoing by him.

georgiapeach:
Viacom sues for Covid relief:

https://www.hollywoodreporter.com/thr-esq/viacomcbs-files-lawsuit-to-recover-covid-19-losses-from-insurer

georgiapeach:
https://deadline.com/2021/05/les-moonves-cbs-settlement-severance-viacom-shari-redstone-sexual-misconduct-1234756695/

georgiapeach:
Speaking of potential blockbuster deals, Comcast and ViacomCBS are reportedly eyeing a partnership to bolster their respective streaming services overseas, The Wall Street Journal reports. Comcast CEO Brian Roberts and ViacomCBS Chairman Shari Redstone recently talked about NBCUniversal’s Peacock and ViacomCBS’s Paramount Plus packaging globally. “[A]s Peacock gained scale in the US, we see compelling ways we can expand internationally,” Roberts said during Comcast’s Q1 earnings call in April. Talk of a partnership comes at a time of large media M&A deals, including WarnerMedia’s merger with Discovery and Amazon’s proposed acquisition of MGM Studios. Viacom and CBS were bandied about for years as potential acquisition targets, and though Comcast is looking at such deals where it can find them, it’s not planning to merge with ViacomCBS, according to the journal.

https://www.adexchanger.com/ad-exchange-news/wednesday-21072021/

theschnauzers:
ViacomCBS has rebranded itself as “Paramount Global” or just “Paramount”.

https://deadline.com/2022/02/viacomcbs-ceo-paramount-paramount-global-bob-bakish-paramount-1234934193/

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