Comcast Company (NASDAQ: CMCSA) CEO Brian Roberts met ViacomCBS Inc. (NASDAQ: VIAC) Chairman Shari Redstone to debate a possible streaming collaboration for worldwide markets, in keeping with a Wall Road Journal report. Sources near the matter informed the monetary publication that the partnership is a sign that the 2 media giants are engaged on a possible collaboration.
Streaming partnership for worldwide markets
The assembly between the 2 media executives reportedly came about in New York on the finish of final month and likewise included ViacomCBS Chief Government Officer Robert Bakish. Most significantly, the executives mentioned methods during which ViacomCBS and Comcast can enter worldwide markets collectively, moderately than on their very own.
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ViacomCBS introduced in Could that its Paramount+ streaming service could be out there in 45 markets by subsequent 12 months. Comcast shares the identical enlargement imaginative and prescient. As well as, Roberts indicated in April that they have been in search of partnerships with distributors and programmers to spice up Peacock in worldwide markets.
Is a merger attainable?
To raised compete within the international streaming market, a merger between Comcast and ViacomCBS is a chance — a minimum of in keeping with Wall Road analysts. Comcast CFO Mike Cavanagh stated in Could that “M&A isn’t a solution” however he added the corporate will “clearly do what’s proper for shareholders.”
On ViacomCBS’ finish, the Redstone household empire Nationwide Amusements owns an 80% voting stake in ViacomCBS. She is open to entertaining acquisition affords if the fitting suitor affords the fitting value, in keeping with sources.
Nonetheless, a merger between the 2 might create pushback from Washington and lawmakers. As such, a business partnership would supply the advantages of a merger with out the potential complications, in keeping with WSJ.
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