Inside the CBS-Viacom marriage, there are concerns about the companies' synergies and size
The other day I was having coffee with a prominent media executive, and I asked for his thoughts on what has arguably been the most tortured mash-up in the current wave of corporate consolidation: the looming reunification of Viacom and CBS. Earlier, both companies were among a handful of media and telecoms players that made presentations at the 28th annual Goldman Sachs Communacopia Conference. My coffee companion didn’t proffer his response with words.
the speculation: “We just did our transformational deal—there is no other deal in the market, or that we see that we feel we have to do.”Showtime and Simon & Schuster)—has been on a listening tour behind the scenes. He’s in the middle of doing about a dozen town hall-style meetings with different business units throughout CBS, the goal being is to address every single employee and to give all of the divisions a chance to air their concerns.
Ianniello is in a unique position. He didn’t get the top job, and yet he was able to retain control of most of the CBS fiefdom. He reports to Bakish, but only the board can fire him or determine his compensation. Some people wonder why he stuck around at all, while others see a win-win. “Joe and Bob get along well enough, but if they don’t get along, Joe walks with a lot of money,” one source said.
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