CBS-Viacom deal reportedly close to being finalized


NEIL: ALL RIGHT. THE MEDIA STOCKS IN PLAY, CBS VIACOM, WHETHER SOMETHING HAPPENS ANYTIME SOON ANYONE’S GUESS BUT ONE GUY WHO WOULD KNOW IS CHARLIE GASPARINO. WHAT IS GOING ON?>>IT IS HAPPENING. I THINK IT WILL HAPPEN AFTER THE CLOSING BELL TODAY, MAYBE TOMORROW MORNING. SOMETIMES IT BLEEDS INTO THE NEXT DAY BECAUSE YOU GOT DONE WITH IT REALLY LATE TODAY, DOT THE Is, CROSS THE Ts. MANAGEMENT STRUCTURE, BOB BAKISH CEO, GUARANTEED. JOE IANNIELLO FROM CBS. HE WILL BE REPORTING TO BOB BAKISH. IT IS NOT AS MUCH — THEY WANT TO KEEP HIM AT THE COMPANY BECAUSE HE DOES A GOOD JOB, LIKE OTHER UNIT HEADS HE WILL BE REPORTING TO BAKISH, EVEN THOUGH CBS WILL BE BIGGEST UNIT. NEIL: WHAT IS THE HANGUP?>>NORMAL DEAL STUFF. WE THINK IT HAPPENS OVERNIGHT. I HAVE BEEN THROUGH, THROUGH T-MOBILE, SPRINT LOOKS LIKE TO ABOUT TO HAPPEN A LITTLE THING HAPPENED HERE, YOU HAVE TO GO THROUGH THE WHOLE THING AGAIN, LAWYERS LOOK OVER EVERYTHING ELSE, BARRING THEM FINDING SOME SLUSH FUND INSIDE OF CBS, WHICH CAUSES, LIKE SOME SORT OF A HUGE PROBLEM, THIS THING IS GETTING DONE EITHER AFTER THE BELL TODAY, MY GUESS, OR, BEFORE THE OPENING BELL TOMORROW. AND IT WILL BE PRETTY BIG. SHARI REDSTONE WILL HAVE ACHIEVED WHAT SHE HAS BEEN TRYING FOR YEARS TO ACHIEVE. THAT IS MERGING TWO COMPANIES TOGETHER. PUTTING THE, REMEMBER, WHAT HAPPENED WAS, THEY WERE TOGETHER FOR YEARS, WHEN SUMNER HAD, WHEN SUMNER REDSTONE WAS PUTTING TOGETHER THE MEDIA EMPIRE. HE BROKE THEM APART IN 2006, BECAUSE DIFFERENT MEDIA LANDSCAPE. THEY WERE BOTH BIGGER COMPANIES AT THE TIME. NEIL: YEAH.>>THEY WERE BOTH MAJOR PLAYERS WITH, MAJOR MARKET CAPS IN MEDIA BUSINESS. SO YOU CAN SORT OF, YOU CAN EXTRACT SOME CAPITAL TO MAKE BOTH GROW, YOU KNOW, IN THAT ENVIRONMENT. SINCE THEN, AS WE KNOW, MEDIA HAS BECOME CONSOLIDATED. COSTS HAVE CHANGED. YOU NEED TO ACHIEVE ECONOMIES OF SCALE. PUT IDEAS PUT THEM TOGETHER. RESISTED BY CBS WHO THOUGHT VIACOM WAS SECOND RATE OUTFIT. LES MOONVES RESISTED. THIS WE WERE FIRST TO REPORT IN MARCH, WAS CLEAR LES WAS NOT GETTING CONTRACT EXTENDED. FOX BUSINESS BEAT “THE WALL STREET JOURNAL” EASILY ON EVERY MAJOR ASPECT OF THE STORY, THIS THING WAS HAPPENING. BOB BAKISH WOULD BE THE CEO. SHARI REDSTONE WOULD BE, SHE WOULD GET SOME ROLE IN THIS, WILL BE INTERESTING, VICE-CHAIR WOMAN. BAKISH GETS THE CEO ROLE BECAUSE HE IS VERY CLOSE WITH SHARI, EVERYTHING YOU SAY ABOUT VIACOM AS A PRODUCT HE HAS DONE A VERY GOOD JOB SINCE TAKING OVER. NEIL: THAT HELPS.>>TAKING OVER FOR DAUMAN IN 2016. PEOPLE HAVE BEEN REPORTING TO HIM. WE’LL SEE “AFTER THE BELL,”

12 Replies to “CBS-Viacom deal reportedly close to being finalized

  1. Great all mass media as we knew it was controlled by five people so after this deal it'll just be for people. And you think they're going to give you the facts

  2. liberal billionaires, continuing to purchase media entities in order to further their control of leftist propagandized narratives.

  3. 1 down, and 4 to go, before we can get the "truth" back in Journalism, and put an end to the Socialist Lunatic show.

  4. There will be only four major media companies after this merger: National Amusements, Disney (just ate up 21st Century Fox), AT&T (just ate up Time Warner) and Comcast (ate up NBCUniversal whole back in 2013).

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