Can two old fogies of the media landscape reunite and grow, as the market rapidly consolidates and moves online? That’s the plan of the soon-to-be chair of a combined CBS and Viacom, Shari Redstone and her CEO Bob Bakish, who currently heads Viacom.
CBS, which first created and spun off Viacom in 1971, agreed on Tuesday to reunite with with its former production unit in a planned $12 billion deal. The combined entity will control everything from the CBS broadcast network to cable channels like MTV and Showtime, plus the Paramount film and TV studio and book publisher Simon & Schuster.
The move is likely bad news for video streamers like Netflix, as the combined ViacomCBS, as the new company will call itself, will have less incentive than ever to continue licensing its popular older shows like NCIS and Madam Secretary to its Internet rival. For example, recently-completed hit comedy The Big Bang Theory is already an exclusive on CBS’s All Access streaming service.
But the incipient entertainment giant probably still won’t have the scale to catch up to its usual Hollywood rivals, or the direct connections to a big audience to rival its new, …read more
Source:: Fortune.com – Tech