Today CBS and Viacom have completed their merger into a single company called ViacomCBS. This closes what turned out to be a long and drawn-out process to once again merge the two companies into a single organization.
“This is a historic moment that brings together two iconic companies to form one of the world’s most important content producers and providers,” said Bob Bakish, President and Chief Executive Officer of ViacomCBS. “Through the combination of CBS’s and Viacom’s complementary assets, capabilities and talented teams, ViacomCBS will create and deliver premium content for its own platforms and for others, while providing innovative solutions for advertisers and distributors globally. I am excited about the opportunity we have to serve our audiences, creative and commercial partners, and employees, while generating significant long-term value for our shareholders.”
The new ViacomCBS has more than 140,000 premium TV episodes and 3,600 film titles, with global production capabilities and more than $13 billion in annual content investment. The company will account for 22% of TV viewership in the U.S. and hold the highest share of broadcast and cable viewing across key audience demographics according to ViacomCBS.
The new company will also be the parent company of several popular streaming services including Pluto TV, CBS All Access, Showtime, and more. For now, we will have to wait and see what this merger means for the future of their streaming services.
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