Viacom and CBS aim to prosper in the streaming arena by covering both ends of the marketplace, blending Viacom’s focus on ad-supported platforms with CBS’s strong head start on subscribers for CBS All Access and Showtime. ViacomCBS CEO Bob Bakish and incoming CFO Christina Spade outlined the combined company’s vision for how it will best monetize the $13 billion in content spending across the two companies that are expected to complete the merger agreement announced last month by year’s end.
Katherine Barnett, Suzanne Grethen and Nicholas Radziul are promoted to senior vice president.
One of WarnerMedia brass’ top goals for the company’s upcoming streaming service HBO Max was to have the biggest comedy series of the past couple of decades, Friends and The Big Bang Theory — both produced by sibling Warner Bros. TV — at launch to help drive subscribers to the new offering. After shelling out $425 million for the exclusive streaming rights to Friends, taking it away from Netflix, HBO Max has now secured the exclusive streaming rights to all 12 seasons of The Big Bang Theory.
The long-time Fox executive is now overseeing the national sales effort for all 28 Fox owned-and-operated stations.
A class action suit has been filed alleging that AT&T pumped up the sub count for its DirecTV Now streaming service (since rebranded to AT&T TV Now) to mask “serious technical problems due to premature roll-out.”
U.S. stocks closed lower Monday as a spike in the price of crude oil rattled the market. The U.S. and international benchmarks for crude each vaulted more than 14% — that’s comparable to the 14.5% spike in oil on Aug. 6, 1990, following Iraq’s invasion of Kuwait.
Endeavor — the parent company of WME, UFC, IMG, Endeavor Content, Professional Bull Riders and other assets — aims to raise as much as $620 million with the sale of 19.4 million shares at $30-$32 per share for its initial public offering this fall.