CBS (NYSE: CBS.A, CBS) and Viacom (NASDAQ: VIAB, VIA) today
announced senior appointments for ViacomCBS’ content and digital
leadership. These appointments, which will be effective upon
closing, will enable ViacomCBS to deliver on its distinct
competitive position as one of the most important content producers
and providers in the world.
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the full release here:
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Content Leaders
ViacomCBS will have a portfolio of powerful consumer brands and
one of the largest libraries of iconic intellectual property,
spanning every genre and appealing to consumers of all ages and
demographics. The combined company’s library will comprise 140,000+
premium TV episodes and 3,600+ film titles, including fan favorites
such as Star Trek and Mission: Impossible. ViacomCBS will also have
more than 750 series ordered or in production, as well as a major
Hollywood film studio, Paramount Pictures. The combined company
will have a content spend of more than $13 billion – one of the
largest in the industry.
“ViacomCBS will be one of the largest premium content creators
in the world, with the capacity to produce content for both our own
platforms and for others,” said Bob Bakish, President and Chief
Executive Officer, Viacom, who will serve as President and Chief
Executive Officer of ViacomCBS upon close. “This talented team of
content leaders will work together to ensure we realize the full
power of our brands, our deep relationships with the creative
community and our intellectual property to drive our growth as a
combined company.”
Following are ViacomCBS’ content leaders, who will manage
the creative and business operations of the company’s brands and
help assess how best to distribute programming – including across
both owned and third-party linear and digital platforms – based on
brand filters and other criteria:
- Jim Gianopulos will oversee Filmed Entertainment,
continuing as Chairman and Chief Executive Officer of Paramount
Pictures, a role that includes oversight of Paramount Animation,
Paramount Features, Paramount Players and Paramount TV.
- Chris McCarthy, President of MTV, VH1, CMT and Logo,
will serve as President of Entertainment & Youth Brands,
ViacomCBS Domestic Media Networks – adding Comedy Central,
Paramount Network, Smithsonian Channel and TV Land brands and their
respective content studios to his current portfolio of MTV, VH1,
CMT and Logo.
- David Nevins, Chief Creative Officer, CBS, and Chairman
and CEO, Showtime Networks, will oversee CBS Television Studios,
the CBS Television Network’s Entertainment division, the Showtime
Networks and Pop, as well as the programming of CBS All Access. He
will also have oversight of CBS’ interest in The CW, a joint
venture between CBS and Warner Bros. Entertainment. In addition,
Nevins will oversee BET, which will continue to be led by Scott
Mills as President of BET.
- Carolyn Kroll Reidy will lead the company’s publishing
assets, continuing in her role as President and Chief Executive
Officer of Simon & Schuster, Inc.
- Brian Robbins, President of Nickelodeon, will oversee
the company’s kids and young adult-focused offerings as President,
Kids & Family Entertainment, ViacomCBS Domestic Media Networks.
In addition to Nickelodeon, Nick at Nite, Nick Jr., TeenNick,
Nicktoons and Nickelodeon Studios, he will now oversee Awesomeness,
which he co-founded and was acquired by Viacom in 2018.
Joe Ianniello, as previously announced, will serve as
Chairman and CEO of CBS, overseeing CBS-branded assets such as the
CBS Television Network (including CBS Entertainment, CBS News, and
CBS Sports), CBS Television Studios, CBS Interactive (including CBS
All Access) and CBS Television Stations.
ViacomCBS will also form a new Content Council, comprising the
content leaders across the company and chaired by Nevins, to ensure
these leaders and other senior executives are working together to
maximize the use of IP and talent relationships across the combined
company.
Digital Leaders
ViacomCBS’ portfolio of leading streaming assets will include
CBS All Access and Showtime, which deliver premium, branded content
live and on demand to millions of subscribers; Pluto TV, the
leading free, advertising-supported streaming TV service in the
U.S.; and targeted niche products such as BET+, CBSN, CBS Sports
HQ, ET Live and Noggin.
“Our content scale will support our streaming strategy, which
will build on the rapidly scaling advertising and
subscription-based products we already have in the market,” Bakish
said. “The executives we announced today bring complementary and
deep experience in both subscription and ad-supported streaming
businesses, and will work together to create a differentiated
streaming ecosystem in the market.”
The following are ViacomCBS’ digital leaders, who will
collaborate with the company’s content leaders to grow the
company’s already expansive digital businesses and footprint and
drive an integrated streaming strategy, taking advantage of the
breadth and depth of ViacomCBS’ combined content portfolio and
global infrastructure:
- Marc DeBevoise, President and COO, CBS Interactive, will
serve as Chief Digital Officer, ViacomCBS, and President and CEO,
CBS Interactive. As such, he will provide overall leadership for
the combined company’s technology and digital operations across its
broad range of digital assets, including its subscription, live and
vertical ad-supported direct-to-consumer streaming services and
major internet properties. His team will also be responsible for
Viacom Digital Studios as well as its partnerships with technology,
digital video and social platforms. In addition, he will continue
to lead CBS Interactive and its digital businesses, including those
of the CBS Television Network and CNET Media Group and its
portfolio of streaming services including CBS All Access, CBSN, CBS
Sports HQ and ET Live.
- Kelly Day, President, Viacom Digital Studios, will
continue to lead the digital content strategy and initiative to
create and expand original programming and branded content across
leading and emerging social platforms. In this role, reporting to
DeBevoise, she will look to expand this initiative from brands
including MTV, Nickelodeon, Comedy Central and BET across the
combined company’s content portfolio.
- Phil Wiser, Chief Technology Officer, CBS, will serve as
Chief Technology Officer for the combined company, reporting to
DeBevoise. As CTO, he will be responsible for the global technology
strategy, shared services, operations and transformation for
ViacomCBS.
- Tom Ryan, CEO and Co-Founder of Pluto TV, will continue
to lead Pluto TV, which delivers more than 200 live and original
channels and thousands of on-demand movies in partnership with 170
TV networks, movie studios, publishers and digital media companies,
including Viacom and CBS. In this role, Tom will oversee all facets
of the company’s business, continuing to guide it both
strategically and operationally through its rapid growth. In
addition to further scaling the platform in the U.S. and extending
the company's category lead domestically, he will work closely with
the ViacomCBS Networks International team on Pluto TV’s global
expansion, including its continued European growth as well as its
upcoming launch across Latin America.
The merger remains subject to customary closing conditions and
is expected to close by early December.
Biographies
- Jim Gianopulos has served as Chairman and Chief
Executive Officer of Paramount Pictures since August 2017. In his
role as Chairman and CEO of Paramount, he oversees the studio’s
film and television operations worldwide, including production,
marketing, distribution and all other facets. He is also charged
with setting a strategy for Paramount, including developing new
content, strengthening Paramount’s slate with co-branded releases
from Viacom flagship brands, and expanding the studio’s global
footprint. Gianopulos has been a leading figure in the global
entertainment industry for more than 30 years. For 16 years, he
served as Chairman and CEO of Fox Filmed Entertainment, overseeing
Twentieth Century Fox, Fox 2000 Pictures, Fox Searchlight Pictures,
Fox International Productions and Twentieth Century Fox
Animation/Blue Sky Studios. Previously, Gianopulos served as
President of 20th Century Fox International. Prior to joining the
company, he held senior positions at Columbia Pictures and
Paramount. He began his career as an attorney specializing in
entertainment law.
- Chris McCarthy, President of MTV, VH1, CMT and Logo, is
known for his successful track record in transforming businesses
and creating cultural hits. After being named President of MTV in
October 2016, McCarthy quickly returned the brand to #1 with young
audiences, reaching more people across cable, social, streaming and
events than any other brand. Prior to MTV, McCarthy led VH1’s
reinvention driving it to record growth. Creating cultural hits are
at the center of both brands’ strategy, evidenced by having 8 of
the top 10 and 15 of the top 25 shows. McCarthy credits his success
to strong leaders and collaborative teams who embrace a culture of
“creativity drives everything we do.” McCarthy joined Viacom in
2004 as a freelancer and rose up the ranks holding various
positions of responsibility from marketing, strategy, operations
and development. The recipient of multiple Emmy Awards and a
Peabody, McCarthy earned an M.B.A. from The Wharton School of
Business at the University of Pennsylvania and a Bachelor of
Science with Honors in Commerce and Engineering from Drexel
University.
- David Nevins has served as CBS’ Chief Creative Officer
and Chairman and CEO of Showtime Networks Inc. since October 2018,
overseeing programming, marketing and research across CBS
Television Studios, the CBS Television Network's Entertainment
division, Showtime Networks, and programming for CBS All Access, as
well as The CW, a joint venture between CBS Corporation and Warner
Bros. Entertainment. As Chairman and Chief Executive Officer of
Showtime Networks Inc., Nevins oversees all aspects of Showtime
Networks Inc. and its channels, including programming,
distribution, business development, finance, marketing, creative,
digital media, scheduling, research, acquisitions, network
operations, home entertainment, business affairs and corporate
communications teams, as well as SHOWTIME Sports®. He works closely
with CBS Corporation's international and domestic distribution
groups on the monetization of Showtime Networks content around the
world. Prior to joining Showtime in 2010 as Entertainment
President, Nevins was an Emmy Award-winning producer and network
programming executive, including President of Imagine Television;
Executive Vice President of Programming at Fox Broadcasting
Company; and Senior Vice President, Primetime Series at NBC.
- Carolyn Kroll Reidy became President and Chief Executive
Officer of Simon & Schuster, Inc. in January 2008. In this
role, she is responsible for all the publishing and operations of
Simon & Schuster’s numerous publishing groups as well as its
international companies in Australia, Canada, India and the United
Kingdom. Under her leadership, Simon & Schuster has taken an
industry-leading position in bringing its works to consumers using
new digital formats and distribution capabilities, including ebooks
and digital audio. Reidy has also led the company’s expansion into
new territories, with the founding in 2011 of Simon & Schuster
India, while making numerous strategic moves that have added to its
portfolio and ensure its presence in every segment of the
publishing marketplace. Reidy first joined Simon & Schuster in
1992 as President of the Trade Division, before being named
President of the Adult Publishing Group in 2001. Prior to Simon
& Schuster, Reidy was President and Publisher of Avon Books,
after having worked at William Morrow and Random House, where she
was Publisher of Vintage Books and Associate Publisher of the
Random House imprint. Reidy has been named one of “The 50 Women to
Watch,” by the Wall Street Journal, and is a recipient of the
Matrix Award from the New York Women in Communications. She is a
graduate of Middlebury College, and holds an M.A. and Ph.D. in
English from Indiana University, where in 2011 she was recipient of
the university’s Distinguished Alumni Award.
- Brian Robbins has served as President of Nickelodeon
since October 2018, overseeing the company’s creative and business
operations and helping to evolve the brand for a new generation of
young audiences. Previously, he served as President of Paramount
Pictures’ Paramount Players division, where he worked closely with
Nickelodeon and Viacom’s other brands to identify talent and
properties to be developed into co-branded feature films. Robbins
co-founded the multi-platform media company Awesomeness in 2012 and
served as Chief Executive Officer. He also co-founded the
production company Tollins/Robbins Productions and was the Founder
and President of Varsity Pictures. In this role, he executive
produced numerous television hits for teens and young audiences,
including the popular Nickelodeon series Kenan and Kel and All
That, the latter of which Robbins adapted into the Nickelodeon
feature film Good Burger. Robbins also executive produced Blue
Mountain State for Spike TV (now Paramount Network) and produced
and/or directed the Paramount films Varsity Blues, Coach Carter and
Hardball. His other credits include the television series
Smallville and One Tree Hill for CW, and Disney Channel’s Sonny
with a Chance and So Random. His film credits include Disney’s Wild
Hogs and The Shaggy Dog; DreamWorks’ Norbit and A Thousand Words;
and Sony Pictures’ Radio. Robbins began his career as an actor,
writer and producer, and has received the Directors Guild Award, a
Peabody Award, the International Academy of Television Arts and
Sciences’ Pioneer Prize.
- Marc DeBevoise has served as President and Chief
Operating Officer of CBS Interactive since 2016 and has also held
other executive roles at CBS Interactive, including EVP and GM of
CBS Digital Media and SVP and GM CBS Entertainment Digital. Earlier
in his career he was the SVP of Digital Media, Business Development
and Strategy for premium subscription service Starz, held various
roles in both Digital Media and Business Development at NBC
Universal and was in the Technology, Media & Telecommunications
Investment Banking Group at JPMorgan. DeBevoise received his M.B.A.
with distinction in Entertainment, Media & Technology and
Finance from New York University’s Stern School of Business and his
B.A. in Economics and Computer Science from Tufts University. He is
a member of the Academy of Television Arts & Sciences, a board
member of Limelight Networks (NASDAQ: LLNW), a leading provider of
edge cloud services, and the Board President of The Door, a
non-profit organization providing youth development services.
- Kelly Day has served as the President of Viacom Digital
Studios since November 2017, overseeing Viacom’s digital strategy,
including the expansion of Viacom’s original programming across the
leading online video and social media platforms. Under her
leadership, Viacom reached new heights in audience engagement,
becoming one of the top 5 properties in media and entertainment.
She previously served as the Chief Business Officer and Chief
Digital Officer of multi-platform media company Awesomeness, where
she was responsible for international expansion, global
distribution strategies and revenue across television, mobile and
OTT providers, also driving the company’s product and technology
investments. Prior to joining Awesomeness, she served as CEO of
venture-backed company Blip Networks, prior to its acquisition by
Maker Studios, and also led various digital and e-commerce
businesses at media and entertainment companies, including
Discovery Communications, The Knot, and AOL. Day has advised
several media and technology start-ups and she currently serves on
the Board of Directors for Blue Ant Media and NATPE.
- Phil Wiser has been Chief Technology Officer of CBS
since 2018. Prior to CBS, Wiser was chief technology officer at
Hearst. Wiser worked across the portfolio of Hearst businesses
including cable networks such as ESPN and A&E, more than 30
broadcast television stations, magazines, newspapers and digital
media brands. Before joining Hearst, Wiser was chairman and
president of Sezmi Corporation, a technology company he founded in
2006 that pioneered the delivery of Internet television
subscriptions. Wiser was chief technology officer at Sony
Corporation of America. Prior to Sony, he built the one of the
earliest online music distribution platforms as the founder of
Liquid Audio, where he was chief technology officer. Wiser
graduated from Stanford University with a master’s degree in
electrical engineering, and he graduated from the University of
Maryland, College Park with a bachelor’s degree in the same field,
summa cum laude. Wiser serves on the board of trustees at the Rock
and Roll Hall of Fame and Museum, and the board of visitors at
Clark School of Engineering, University of Maryland.
- Tom Ryan has served the CEO and Co-Founder of Pluto TV
since early 2014. Under his leadership, Pluto TV became the leading
free streaming TV service in the U.S. with more than 18 million
monthly active users tuning into over 200 live channels and
thousands of on-demand movies and TV shows. He also led Pluto TV
through its successful acquisition by Viacom in January 2019.
Earlier in his career, Tom served as CEO of Threadless, an online
art community and e-commerce company, from 2008 to 2012. Previously
he was Senior Vice President of Digital Strategy and Business
Development at EMI Music and was part of the early team at Virgin
Mobile USA. Tom also co-founded Cductive, a pioneering online music
service, which was merged with eMusic in 1999.
About CBS
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company
that creates and distributes industry-leading content across a
variety of platforms to audiences around the world. The Company has
businesses with origins that date back to the dawn of the
broadcasting age as well as new ventures that operate on the
leading edge of media. CBS owns the most-watched television network
in the U.S. and one of the world’s largest libraries of
entertainment content, making its brand –"the Eye” – one of the
most-recognized in business. The Company’s operations span
virtually every field of media and entertainment, including cable,
publishing, local TV, film and interactive. CBS’ businesses include
CBS Television Network, The CW (a joint venture between CBS
Corporation and Warner Bros. Entertainment), Network 10 Australia,
CBS Television Studios, CBS Global Distribution Group, CBS Consumer
Products, CBS Home Entertainment, CBS Interactive, CBS All Access,
the Company’s direct-to-consumer digital streaming subscription
service, CBS Sports Network, CBS Films, Showtime Networks, Pop,
Smithsonian Networks, Simon & Schuster, CBS Television Stations
and CBS Experiences. For more information, go to
http://www.cbscorporation.com.
About Viacom
Viacom (NASDAQ: VIAB, VIA) creates entertainment experiences
that drive conversation and culture around the world. Through
television, film, digital media, live events, merchandise and
solutions, its brands connect with diverse, young and young at
heart audiences in more than 180 countries.
For more information on Viacom and its businesses, visit
http://www.viacom.com. Keep up with Viacom news by following it on
Twitter (twitter.com/Viacom), Facebook (facebook.com/Viacom) and
LinkedIn (linkedin.com/company/Viacom).
Important Information About the Pending
Merger Between CBS and Viacom and Where To Find It
In connection with the pending merger between CBS Corporation
(“CBS”) and Viacom Inc. (“Viacom”), CBS has filed with the Securities and
Exchange Commission (the “SEC”) a
Registration Statement on Form S-4 (No. 333‑234238) (the
“Registration Statement”) that
includes a joint consent solicitation statement of CBS and Viacom
and that also constitutes a prospectus of CBS (the “joint consent solicitation statement /
prospectus”). The Registration Statement was declared
effective by the SEC on October 25, 2019. Viacom and CBS commenced
mailing the definitive joint consent solicitation statement /
prospectus to Viacom stockholders and CBS stockholders on or about
October 28, 2019. This communication is not a substitute for the
joint consent solicitation statement / prospectus or Registration
Statement or any other document which CBS or Viacom may file with
the SEC. INVESTORS AND SECURITY HOLDERS OF CBS AND VIACOM ARE URGED
TO READ THE REGISTRATION STATEMENT, WHICH INCLUDES THE JOINT
CONSENT SOLICITATION STATEMENT / PROSPECTUS, AND ANY OTHER RELEVANT
DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS
ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PENDING MERGER AND RELATED MATTERS. Investors
and security holders may obtain free copies of the Registration
Statement, which includes the joint consent solicitation statement
/ prospectus, and other documents filed with the SEC by CBS and
Viacom through the website maintained by the SEC at or by
contacting the investor relations department of CBS
(+1-212-975-4321 or +1-877-227-0787; investorrelations@CBS.com) or
Viacom (+1-212-846-6700 or +1-800-516-4399;
investor.relations@Viacom.com).
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and does not constitute an offer to subscribe for, buy
or sell, or the solicitation of an offer to subscribe for, buy or
sell, or an invitation to subscribe for, buy or sell any securities
or a solicitation of any vote or approval in any jurisdiction, nor
shall there be any sale, issuance or transfer of securities in any
jurisdiction in which such offer, invitation, sale or solicitation
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, and otherwise in accordance with applicable law.
Cautionary Notes on Forward-Looking
Statements
This communication contains “forward-looking statements” within
the meaning of the federal securities laws, including Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In this context,
forward-looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” “will,” “would,” “may,” “target,” similar
expressions and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
consummation of the pending merger and the anticipated benefits
thereof. These and other forward-looking statements are not
guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause actual results to
differ materially from those expressed in any forward-looking
statements, including the failure to consummate the pending merger
or to make any filing or take other action required to consummate
such transaction in a timely matter or at all. Important risk
factors that may cause such a difference include, but are not
limited to: (i) the pending merger may not be completed on
anticipated terms and timing, (ii) a condition to closing of the
pending merger may not be satisfied, including obtaining regulatory
approvals, (iii) the anticipated tax treatment of the pending
merger may not be obtained, (iv) the potential impact of unforeseen
liabilities, future capital expenditures, revenues, costs,
expenses, earnings, synergies, economic performance, indebtedness,
financial condition and losses on the future prospects, business
and management strategies for the management, expansion and growth
of the combined business after the consummation of the pending
merger, (v) litigation relating to the pending merger against CBS,
Viacom or their respective directors, (vi) potential adverse
reactions or changes to business relationships resulting from the
announcement or completion of the pending merger, (vii) any
negative effects of the announcement, pendency or consummation of
the pending merger on the market price of CBS’ or Viacom’s common
stock and on CBS’ or Viacom’s operating results, (viii) risks
associated with third party contracts containing consent and/or
other provisions that may be triggered by the pending merger, (ix)
the risks and costs associated with the integration of, and the
ability of CBS and Viacom to integrate, the businesses successfully
and to achieve anticipated synergies, (x) the risk that disruptions
from the pending merger will harm CBS’ or Viacom’s business,
including current plans and operations, (xi) the ability of CBS or
Viacom to retain and hire key personnel and uncertainties arising
from leadership changes, (xii) legislative, regulatory and economic
developments, (xiii) the other risks described in CBS’ and Viacom’s
most recent annual reports on Form 10-K and quarterly reports on
Form 10-Q, and (xiv) management’s response to any of the
aforementioned factors.
These risks, as well as other risks associated with the pending
merger, are more fully discussed in the joint consent solicitation
statement / prospectus included in the Registration Statement.
While the list of factors presented here and the list of factors
presented in the Registration Statement are considered
representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted
factors may present significant additional obstacles to the
realization of forward-looking statements. Consequences of material
differences in results as compared with those anticipated in the
forward-looking statements could include, among other things,
business disruption, operational problems, financial loss, legal
liability to third parties and similar risks, any of which could
have a material adverse effect on CBS’ or Viacom’s consolidated
financial condition, results of operations, credit rating or
liquidity. Neither CBS nor Viacom assumes any obligation to
publicly provide revisions or updates to any forward-looking
statements, whether as a result of new information, future
developments or otherwise, should circumstances change, except as
otherwise required by securities and other applicable laws.
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Viacom Justin Dini, Senior Vice President, Corporate
Communications (212) 846-2724 Justin.Dini@viacom.com
Karen Shosfy, Vice President, Corporate Communications (212)
846-3644 Karen.Shosfy@viacom.com
CBS Dana McClintock, Executive Vice President, Chief
Communications Officer (212) 975-1077 Dlmcclintock@cbs.com
Kelli Raftery, Executive Vice President, Communications (212)
975-3161 Kelli.Raftery@cbs.com
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