ViacomCBS president-CEO Bob Bakish has downplayed any acquisition talk at a meeting with investors on Monday, saying the company feels no urgency to pursue any major acquisitions at present.
Last year, following the re-unification of CBS & Viacom, outlets like Discovery, Sony Pictures, Lionsgate/Starz and Univision were all touted by analysts as potential buys for ViacomCBS. This would be done in order to help push the still relative small-medium sixed CBS All Access into something much bigger and more capable of rivalling juggernauts Disney+, Netflix, Amazon, HBO Max and Peacock.
Today, Bakish promised a major overhaul of the CBS All Access subscription platform is coming this summer to incorporate more ViacomCBS brands, but there won’t be further assets beyond what they currently own. Even so, the plan is for a “transformative rebrand and relaunch” of the service.
ViacomCBS shares are down 64% for the year to date.
Source: Variety
