Tag Archives: merger

Viacom And CBS Create Integration Office, Announce Overseers Of Merger Process

In addition, the companies are forming an Integration Management Office (IMO). News of the IMO, the executive appointments and the hiring of Bain & Company as a merger consultant came via an internal memo to employees from Bob Bakish. Currently Viacom CEO, Bakish will soon be head of ViacomCBS. The $30 billion, all-stock transaction is expected to close by the end of 2019. – Dade Hayes, Deadline Hollywood » http://dlvr.it/RCNsdy [photo: Viacom/CBS]

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CBS Stock Jumps At Opening Bell, Viacom Sinks As Merger Deal Nears Close

The boards of both companies worked through the weekend to hammer out terms of their long-expected reunion, with the amount of stock being exchanged between the companies remaining the main sticking point. The companies earlier had reached significant clarity about the management structure, agreeing that current Viacom CEO Bob Bakish would run the combined company, with acting CBS chief Joe Ianniello in a top role. – Dade Hayes, Deadline Hollywood » http://dlvr.it/RB5jLV

CBS, Viacom Reach Tentative Management Structure for Combined Company

The agreement remains fluid, according to people familiar with the situation, but calls for Viacom CEO Bob Bakish to take the reins of a combined Viacom and CBS, with Joe Ianniello, acting CEO of CBS Corp. being offered a position overseeing all of the CBS-branded assets at a newly merged concern. Christina Spade, CBS’ chief financial officer, could become the CFO of the new company, these people said. – Brian Steinberg, Variety » https://trib.al/OudAfOd

AT&T Prevails Against DOJ In Long-Running Legal Battle Over Time Warner Deal

In their 35-page ruling, Judges Judith W. Rogers, Robert L. Wilkins and David B. Sentelle affirmed Leon’s decision, saying that AT&T had provided “real-world” data to support its contention that the deal would not result in harm. “The government offered no comparable analysis of data,” the judges wrote. “Evidence also indicated that the industry had become dynamic in recent years with the emergence, for example, of Netflix and Hulu. In this evidentiary context, the government’s objections that the district court misunderstood and misapplied economic principles and clearly erred in rejecting the quantitative model are unpersuasive.” – Dade Hayes, Deadline Hollywood » https://ift.tt/2SuWOM6

Fox Accepts Disney’s $71.3 Billion Offer

The term “accepted” may be misinterpreted in this scenario. This doesn’t mean that Fox is now selling to Disney for $71.3 billion and everything is a done deal. All this means is that the company is officially recognizing Disney’s bid as the single best offer on the table. If a better offer isn’t made, this will be the deal that moves forward. Comcast still has an opportunity to return with an even higher bid. – Charlie Ridgely, ComicBook.com https://ift.tt/2yuF7HM

AT&T has $15 skinny bundle video streaming service in the works

Company CEO Randall Stephenson spilled the details Thursday during his testimony as part of The United States Department of Justice’s trial challenging AT&Ts merger with Time Warner. […] Stephenson, who took the stand Thursday as part of AT&T’s defense arguments, said the company will begin offering AT&T Watch in the next few weeks for $15 monthly, reported several outlets covering the trial including The Wall Street Journal. – Mike Snider, USA TODAY https://ift.tt/2qMeYhr

Sling TV Chief: “There Would Be Severe Bleeding” From AT&T-Time Warner Deal

One immediate threat would be that Sling, which markets its internet-delivered service as a contract-free, bargain-priced alternative to the bloated conventional cable bundle, would be forced to carry more networks. Sling’s basic “orange” service includes about 20 networks from various companies for a $20 monthly rate. From the Turner fold, TNT, TBS, CNN and Cartoon Network are included in that package. – Dade Hayes, Deadline Hollywood https://ift.tt/2pHiKYU
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