Thursday, September 29, 2016

Redstone Wants Unity From CBS And Viacom

I have been talking about the future of Viacom for quite some time.  With all the family squabbles, the real problem was that Viacom's assets were no longer as hot and valuable as they could be.  Comedy Central has stumbled, Nickelodeon has lost its appeal, MTV is not edgy, and Paramount is missing its mojo.  As a business, the future no longer seems as bright.  10 years ago, when Redstone separated CBS form Viacom, many expected the cable arm to excel; rather, the opposite occurred and the broadcast arm reigned.  Moonves, CEO of CBS won and Dauman, former CEO of Viacom lost. 

Now it seems that the Redstone family finally sees the need to bring the family jewels back together again.  Bust as I asked last month in my blog, does Moonves have a say in this and will Redstone listen.  Well according to the NY Times, Sumner Redstone wants to bring CBS and Viacom back together.  Will Moonves acquiesce?  Is it even a discussion?  And can a combined empire put the Viacom assets back on a winning track?  Moonves may not agree in the move to combine but might not have a choice.