'Content is king'
"I am really excited to see these two great companies come together so that they can realise the incredible power of their combined assets," said Shari Redstone, who will chair the new company, ViacomCBS. The daughter of Sumner Redstone said: "My father once said 'content is king,' and never has that been more true than today. We will establish a world-class, multiplatform media organisation that is well-positioned for growth in a rapidly transforming industry." Mr Redstone broke up CBS and Viacom 14 years ago. He believed it would unlock the value of Viacom, which was broadcasting some of TV's most popular shows at a time when CBS was becoming less popular. Shari Redstone had been a big backer of re-combining the companies in the face of tough competition. The mergers of Disney with Fox, and AT&T and Time Warner, coupled with expanding streaming services, left CBS and Viacom in a weaker position.DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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