Wall St. Increasingly Bullish About Viacom/CBS Deal Likelihood
Wall Street increasingly sees a Viacom/CBS as likely. In an email to investors Tuesday, Barclays analyst Kannan Venkateshwar said dynamics for such a deal differ compared with rumors in the past: the existence of other media mega-deals like Discovery/Scripps Networks…
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Interactive, Viacom's deteriorating performance and the lack of its content on over-the-top bundles, and CBS advertising woes. He said such a deal would buy Viacom more time in its turnaround. In a separate note Tuesday, MoffettNathanson analyst Michael Nathanson said CBS CEO Les Moonves' rumored increased openness to a deal isn't surprising given comments he has made about the need for more scale to compete with the likes of Disney and Comcast. Nathanson also said a merger would mean more cash flow for CBS in upcoming NFL negotiations. CBS and Viacom didn't comment.