Disney / Hulu / ESPN
Comcast / NBC / Universal
AT&T/ DirecTV / HBO
and new to the list - ViacomCBS.
On the one hand, I think this is ultimately bad for consumers as the prices will be higher. On the other hand, it would be nice to only have a handful of services to rotate through to binge stuff rather than a score.CBS and Viacom have agreed to merge, ending years of on-and-off talks.
The new company will be called ViacomCBS, and Viacom’s CEO, Bob Bakish, will be the CEO of the combined company. Joe Ianiello, who was serving as CEO since last year, will be the chairman of CBS and will be in charge of CBS assets after the merger.
Existing CBS shareholders will own about 61% of the combined company, with Viacom shareholders owning the remaining 39%. Each Viacom shareholder will receive .59625 shares of CBS shares.
The combination reunites the two media companies controlled by Sumner Redstone’s National Amusements. Viacom spun off CBS in 2006. Redstone’s daughter, Shari, is the vice chairman of the board at both CBS and Viacom and has long desired putting the companies back together to gain scale in a media environment where competitors including Disney, Comcast and AT&T have bulked up through a series of megadeals.