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The Amazing Race => The Amazing Race Discussion => Topic started by: georgiapeach on July 20, 2019, 09:44:53 AM
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This was previously being discussed in the Les Moonves thread as well.
Moving forward:
https://www.cnbc.com/2019/07/15/cbs-viacom-set-august-8-as-informal-deadline-for-merger-talks.html
https://deadline.com/2019/07/cbs-and-viacom-head-toward-mutual-august-earnings-date-as-merger-talks-continue-1202646594/
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https://deadline.com/2019/08/cbs-and-viacom-set-merged-management-structure-to-play-to-strongest-strengths-1202660178/
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Later than what was expected, but officially official:
CBS and Viacom have agreed to merge, ending years of on-and-off talks.
The new company will be called ViacomCBS, and Viacom’s CEO, Bob Bakish, will be the CEO of the combined company. Joe Ianiello, who was serving as CBS CEO since last year, will be the chairman of CBS and will be in charge of CBS assets after the merger.
Link: CBS and Viacom reach merger deal, ending years of discussions (https://www.cnbc.com/2019/08/13/cbs-and-viacom-reach-merger-deal.html) [CNBC]
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And...we're done. For now?
https://www.washingtonpost.com/business/cbs-and-viacomreunite-just-in-time-for-a-media-fight/2019/08/13/3fb13c86-be02-11e9-a8b0-7ed8a0d5dc5d_story.html
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Keep an eye on who’s in charge of what. Within a year, it’s very likely there will be NO revenants of the Moonves era at CBS in the corporate suite of ViacomCBS. (And with Julie Chen Moonves contract being up in September and the cancellation of all four CBS drama summer series, it’s quite likely the summer schedule will be quite different. (Love Island is a post-Moonves series.)
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Keep an eye on who’s in charge of what. Within a year, it’s very likely there will be NO revenants of the Moonves era at CBS in the corporate suite of ViacomCBS. (And with Julie Chen Moonves contract being up in September and the cancellation of all four CBS drama summer series, it’s quite likely the summer schedule will be quite different. (Love Island is a post-Moonves series.)
Joe Ianniello (current CBS CEO) will remain in his position, but will just report to the ViacomCBS CEO now. Also, I read on Deadline that Love Island was Les Moonves' last CBS pick up.
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CBS & Viacom will merge in December!
https://tvtonight.com.au/2019/10/cbs-viacom-to-merge-by-december.html
What does it mean for you Yanks and it could very well effect Network 10 over here in Australia, which airs Australian Survivor and TAR Australia...
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CBS and Viacom have officially merged. New website: viaCBS.com
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10 CEO Paul Anderson has added Executive Vice President, ViacomCBS Networks Australia and New Zealand to his portfolio duties, following the merger of Viacom and CBS Corporation.
He will additionally have local oversight of Viacom’s family of flagship pay TV networks – including Comedy Central, MTV, Nickelodeon and Nick Jr. – and a range of associated businesses, as well as 10’s platforms.
Ben Richardson, who is General Manager of Viacom’s existing networks operations in Australia and New Zealand, will now report to Anderson as GM, SVP, ViacomCBS Pay Networks and Network 10 Business Development.
David Lynn, CEO, ViacomCBS Networks International, said: “The progress that Network 10 has made under Paul’s leadership in strengthening its schedules, rebranding its portfolio and accelerating its streaming strategy has been impressive. I am convinced that operating our combined free-to-air, pay TV and digital assets as a single portfolio will add value to our business in Australia and I look forward to working with Paul, Ben and the rest of the team to bring an even more effective and engaging offer to local audiences.”
“I am thrilled to take on this new and exciting role. The ViacomCBS merger combined with Network 10 creates a unique and powerful media group in the local market, bringing together some of the most innovative entertainment and media brands in Australia and across the world. That will be great news for viewers and advertisers as we build a multi-platform business as part of this new global content powerhouse. I’m looking forward to working with our great team to capitalise on the many opportunities ahead of us,” said Anderson.
Maria Kyriacou, who most recently was President of International for ITV Studios, will now join as President, ViacomCBS Networks UK & Australia
https://tvtonight.com.au/2020/01/paul-anderson-to-oversee-viacomcbs-in-aus-nz.html
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Things are not going well for Viacom...
https://www.forbes.com/sites/noahkirsch/2020/04/08/viacomcbs-downward-spiral-is-accelerating-as-talk-of-unraveling-grows/#541b6d027b09
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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.
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Viacom sues for Covid relief:
https://www.hollywoodreporter.com/thr-esq/viacomcbs-files-lawsuit-to-recover-covid-19-losses-from-insurer
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https://deadline.com/2021/05/les-moonves-cbs-settlement-severance-viacom-shari-redstone-sexual-misconduct-1234756695/
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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/
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ViacomCBS has rebranded itself as “Paramount Global” or just “Paramount”.
https://deadline.com/2022/02/viacomcbs-ceo-paramount-paramount-global-bob-bakish-paramount-1234934193/