Following three years of talks and negotiations following 13 years as split corporations, a different mega-merger is looming immediately after the media giants Viacom and CBS have agreed to reunite in a United States deal with will have an influence on South Africa and the African continent as effectively.
On Tuesday CBS and Viacom that separated 13 years ago, announced that Viacom – that umbrellas Viacom’s Paramount film studio and its spend-Television channels accessible in Africa like MTV, MTV Base, BET, Nickelodeon, Nick Jr., Comedy Central – will merge with the broadcaster CBS, with the CBS Corporation that has the Showtime spend-Television channel and a 50%-stake in the CW broadcast network.
Viacom runs many linear Television channels as a channels supplier across Africa on MultiChoice’s DStv satellite spend-Television platform in South Africa and across sub-Saharan Africa via Viacom International Media Networks Africa (VIMN Africa), whilst M-Net acquires and shows Showtime and CW series across its variety of channels on DStv, as effectively as streaming series created for CBS’s subscription video-on-demand (SVOD) service in America like The Great Fight and Inform Me a Story.
The combined Viacom-CBS conglomerate that will be identified as ViacomCBS will now be lead by Robert M. Bakish who has been Viacom’s CEO, with Joseph Ianniello, who has been the CBS acting CEO who will stay in location as the CEO and chairperson of a newly-created CBS unit, says ViacomCBS in a statement released late on Tuesday.
CBS chief monetary officer Christina Spade will serve as the CFO of ViacomCBS.
Shari Redstone will be the chairperson of ViacomCBS.
Viacom and CBS applied to exist as Viacom till their split in 2006 but the combined ViacomCBS will now attain extra than four.three billion spend-Television subscribers about the planet.
ViacomCBS says that it now “has an chance to expand globally by leveraging its current strength in each subscription and ad-supported offerings, combined library, content material production capabilities and international infrastructure”.
“I am seriously excited to see these two wonderful corporations come collectively so that they can realise the amazing energy of their combined assets. My father when stated ‘content is king’, and under no circumstances has that been extra correct than these days,” stated Shari Redstone in a statement.
“By means of CBS and Viacom’s shared passion for premium content material and innovation, we will establish a planet-class, multiplatform media organization that is effectively-positioned for development in a swiftly transforming business.”
Bob Bakish in the statement says “Led by a talented leadership group that is excited by the future, ViacomCBS’s achievement will be underpinned by a commitment to sturdy values and a culture that empowers our exceptional people today at all levels of the organisation.”
“Today marks an critical day for CBS and Viacom, as we unite our complementary assets
and capabilities and develop into a single of only a handful of corporations with the breadth and depth of content material and attain to shape the future of our business.”
“Our special capability to create premium and well-known content material for international audiences at scale – for our personal platforms and for our partners about the planet – will allow us to maximize our small business for these days, whilst positioning us to lead for years to come.”
Joseph Ianniello in the statement says that the merger “brings an fascinating new set of possibilities to each corporations. At CBS, we have outstanding momentum suitable now – creatively and operationally – and Viacom’s portfolio will enable accelerate that progress”.
“I appear forward to all we will do collectively as we construct on our ongoing achievement. And personally, I am pleased to stay focused on CBS’s leading priority – continuing our transformation into a international, multiplatform, premium content material enterprise.”