Tag: viacom

  • CBS and Viacom Just Merged in Latest Hollywood Megadeal

    CBS and Viacom Just Merged in Latest Hollywood Megadeal

    Thirteen years after they were split into two companies, CBS and Viacom are back together again.

    Shari Redstone, vice chair of both companies, will serve as chair of the combined entity, which will be called ViacomCBS Inc.

    The new company will have a library of 3,600 film titles and 140,000 TV episodes. It will also have a a 22 percent share of the U.S. television audience, larger than Comcast, Disney, Fox Corporation, Discovery or WarnerMedia, according to THR.

    “I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets. My father [Sumner Redstone] once said ‘content is king,’ and never has that been more true than today,” said Shari Redstone.

    The transaction is expected to close at the end of 2019, pending regulatory and shareholder approvals.

    Viacom assets include Paramount Pictures, Comedy Central, MTV, VH1, Nickelodeon and BET, with CBS bringing Showtime and streaming service CBS All Access to the table.

    CBS Films, which just brought us “Scary Stories to Tell in the Dark,” is being folded into CBS Entertainment Group as the company’s priorities shift to streaming.

    The CBS-Viacom deal agreement comes after Walt Disney’s $71.3 billion buyout of 21st Century Fox and AT&T’s $85 billion takeover of Time Warner. CBS has also reportedly offered Lionsgate $5 billion for its premium cable channel Starz.

    Earlier this year, Viacom acquired Pluto TV to enhance its streaming business.

    [Via THR]

  • CBS Considering Making Offer to Acquire Viacom: Report

    CBS Considering Making Offer to Acquire Viacom: Report

    CBS

    Another merger between media companies could be coming.

    CBS is reportedly again considering a merger with Viacom. Sources tell NBC News that CBS board members are having internal conversations about an acquisition after giving a contract extension to president and acting CEO Joseph Ianniello. It would reunite the two companies after the original version of Viacom Inc. was split into today’s Viacom and CBS Corporation at the end of 2005.

    There were previously moves in that direction, but they were complicated in May 2018 when CBS, under now ex-chairman and CEO Leslie Moonves, sued its parent company, National Amusements. The lawsuit claimed in part that the merger “was not in the best interests of CBS and its stockholders.” Ultimately, the parties reached a settlement in September 2018, as Deadline reported at the time.

    This time, CBS leadership has changed and Viacom considers itself better positioned for the merger, per Variety. Should it happen, the combined company would own assets like Viacom’s Paramount Pictures, MTV, and Nickelodeon, and CBS’s Showtime, CBS Television Studios, and Simon & Schuster. Together, they could potentially be better poised to compete with rivals like Disney, which recently acquired key 21st Century Fox assets.

    An NBC News source says not to expect an imminent offer. The companies involved have not commented.

    [via: NBC News; Variety]

  • ‘Monster Trucks’ Movie Listed as $115 Million Loss Months Before Release

    If only MacGyver could defuse this potential bomb. Lucas Till stars in the upcoming live-action/computer animated adventure “Monster Trucks,” which is now scheduled for release January 13, 207. But apparently its own studio, Paramount/Viacom, sees a big loss coming, and is already writing it down in the books.

    Here’s the scoop from The Hollywood Reporter:

    “Lowering its earnings forecast for the current fiscal fourth quarter, Viacom cited ‘a programming impairment charge of $115 million’ that is ‘related to the expected performance of an unreleased film,’ in addition to other factors.

    Sources tell The Hollywood Reporter the movie in question is ‘Monster Trucks,’ set for release on Jan. 13. The big-budget title has been delayed numerous times after originally being slotted to hit theaters more than a year ago. First set for release on May 29, 2015, it was then pushed to Dec. 25 of that year, then March 18 of this year and eventually to next January.”

    The added that the estimated budget for the film was over $100 million. Jefferies analyst John Janedis noted, in a report quoted by THR, “Viacom indicated there would be a write-down of $115 million related to a future film that will not likely perform to expectations.” Drexel Hamilton analyst Tony Wible added that the loss “implies that Paramount will have lost about $500 million this year despite a favorable box office, home entertainment and licensing environment.”

    As Collider (which visited the “Monster Trucks” set back in June 2014) noted, Paramount has had some success this year, but “Star Trek Beyond” wasn’t a massive hit, and there were no “Transformers” or “Mission: Impossible” franchise movies in 2016. Still, there’s hope that things will improve next year.

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  • ‘South Park’ Lands $192 Million Renewal Deal, Will Pass 300 Episodes

    “South Park” just got some great news today, worthy of many taco-flavored kisses. According to Variety, Comedy Central extended the series through 2019 — ordering 30 new episodes in a renewal that will take it through its 23rd season and top the 300-episode mark. Also, Trey Parker and Matt Stone’s South Park Digital Studios, in a joint move with Viacom, renewed the SVOD deal with Hulu to cover the additional seasons. The Hollywood Reporter added this financial perspective: “The streaming service will pay Viacom and the show’s creative team $192 million over five years, according to sources.” They also noted that “$110 million [is] earmarked for the creative team over the five-year period.”

    Season 19 starts in September, so they won’t be killing Kenny for at least another five seasons. Those bastards … are now incredibly rich.

    Trey and Matt continue to write and direct every episode, so there will be no “Screw you guys, I’m going home to roll in a pile of money” anytime soon. They’re grateful for the chance to live the dream. The creators shared a statement, via Variety, praising Doug Herzog, president of Viacom Music & Entertainment Group: “We love working for Doug and with everyone at Comedy Central. They’ve given us an insane level of artistic and creative freedom for almost 20 years. They walk the walk.”

    “South Park” Season 19 premieres September 16.

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  • Beyond HBO NOW: What Changes in Cable and Streaming Mean for You

    Even before Apple unveiled it’s heavily-anticipated new Dick Tracy wristwatch this week, the company gave HBO chief a platform to announce its new stand-alone streaming service, HBO NOW, which will allow people who don’t subscribe to HBO on their cable bills to stream HBO programming old and new, including the season of “Game of Thrones” that begins in April.

    Exciting as that is, it’s just one development in recent days that could change forever the way you watch TV.

    Between the new HBO service, the changes happening at Netflix that will make its offerings more like conventional TV, and the ongoing carriage battles over which channels your cable provider is still willing to keep on its lineup, the wholesale migration of TV programming from your big flatscreen to your PC or mobile is apparently underway.

    HBO NOW is still very much an experiment. For the first three months, only Apple product users (that is, people with iPhones, iPads, and Apple TV set-top boxes, but not Macs) will be able to subscribe. (Those who subscribe in April will get the first 30 days free. Then it’s $14.99 a month.) Only then is it expected to migrate to other streaming enablers like Roku, Xbox, and Amazon Fire TV. It will work exactly like HBO GO, offering current seasons of its original shows simulcast in real time, current movies airing on HBO, and HBO’s vast back catalog of series — except that you don’t have to subscribe to the cable version of HBO.

    You may grumble over the price, which is about twice what a monthly subscription to Netflix costs, and about $5 per month more than what you pay to have HBO on your cable lineup, but if people pay up, it’s only a matter of time before other cable channels — premium and basic alike — follow suit.

    Actually, they already have. Satellite provider Dish has a $20-per-month streaming package called Sling TV that includes ESPN and a handful of other channels. CBS also has a pay stand-alone service that let’s you watch current shows in real time (and a handful of catalog offerings) over the Internet.

    Pretty soon, it’s possible that every channel will offer an Internet-only subscription version. Which means you can finally have à la carte TV — paying for just the channels you want, instead of having to buy the whole bundle that the cable or satellite company wants to sell you. Of course, you’ll be paying a premium for each individual channel, so you may end up paying more than you do now for your bundled package. Plus, if you get broadband and cable from the same provider and drop the latter, your cost for broadband alone will probably rise from what it cost as part of a service package. So you may be able to cut the cord and stream just the channels you want, but at a higher price than what you’re paying now as a cable or satellite TV customer.

    Either way, the cable providers win, since you’re still buying your Internet connection from them. Indeed, it seems the balance of power in the eternal struggle between the individual channels and the service providers has shifted away from the programmers. For the past several years, the individual channels have been waging carriage battles against the service providers, trying to get them to raise the carriage fees for the right to deliver those channels to their customers. In recent years, whenever these price negotiations failed, the channel would yank its signal, perhaps for a few days or even weeks, until the service provider caved and settled, raising the fee and passing the added cost on to you in the form of a higher cable bill.

    But in many Southern markets, there’s a carriage battle between Suddenlink Communications, the nation’s 7th largest cable provider, and Viacom, the programming giant behind MTV, Comedy Central, Nickelodeon, and other popular cable channels. This particular clash has been going on for nearly six months — that’s how long Suddenlink has held out, and how long its customers have gone without Viacom channels.

    The way things are now — or will be soon — Viacom could just take its ball and go home. Its channels might never return to Suddenlink’s cable viewers; eventually, all its programming might go over the Internet, with subscriptions for each individual channel, or perhaps a Viacom package. But Suddenlink wouldn’t sweat it because it’ll still be selling its customers the broadband to watch that content. According to the New York Times, Suddenlink lost just 32,600 of its 1.4 million cable customers in the first three months of the Viacom outage , but it’s held on to 99.7 percent of its Internet customers.

    The final paradox is that the streaming programming to which we’ve become accustomed may be turning into the kind of appointment TV we had in the days before DVRs. This week, Netflix announced that its forthcoming drama series “Between,” debuting May 21, will be released in weekly installments, not all at once like seasons of “House of Cards,” “Orange Is the New Black,” or “Unbreakable Kimmy Schmidt.” Sure, you can wait until the season is over and then binge on “Between,” but if the show is to succeed and become the kind of social-media phenomenon that other Netflix series have become, you will have to make a point of watching each episode as it’s released.

    And that pattern will only continue at Netflix. Next year, when Chelsea Handler’s new show debuts, it will also presumably air at a scheduled time each week. Last month, according to Variety, she said she wants the show to focus on more newsworthy topics than her nightly celebrity chat show on E! that she left last summer. Her template, she said, would be “the well-roundedness of ’60 Minutes’ but faster, quicker, cooler.” It won’t air every weeknight, as “Chelsea Lately” did, she said, so it’s likely to emulate the once-a-week scheduling of “60 Minutes” as well. Explaining why she wanted to make her show more like your grandparents’ favorite newsmagazine, she said, “I want to grow up.”

    So this is what streaming will look like when it grows up: just the channels you want, but at a price, and with programming not necessarily at the times you want, but when the channels choose to stream it. So, pretty much like cable now, only with you paying for the convenience of carrying it in your purse or your pocket.
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