For the first time in many quarters, CBS and Viacom are both scheduled to report their financial results on the same day, August 8. Insiders at the companies have pointed out that the reporting was…
Insiders at the companies have pointed out that the reporting was not co-ordinated with any larger goal in mind, and the releases don’t overlap. Viacom will be out before the start of trading, with CBS following after the close, and toward the end of earnings season, which unofficially kicks off on Wednesday with Netflix.
When and if a deal can be consummated remains unclear, though a reunion has long been seen as a foregone conclusion, with the main variables being price and management. But some of the factors that complicated the initial talks in 2016 and the sequel in 2018 have been notably absent as the parties have spent the past several weeks in discussions.
Both companies have entered the current negotiations in different shape from where they were three years ago, when talks gained more urgency. From a stock standpoint, a deal could be a tonic and many analysts have emphasized the “overhang” of the merger question and their eagerness for it to be dispelled.
On August 8, investors will be watching the ratings and advertising stories at both companies given ongoing headwinds in linear programming, while also looking for reason for hope in the streaming realm. Neither company is placing go-for-broke bets in the manner of Disney or WarnerMedia in pursuit of Netflix, but both have asserted themselves in the digital arena.
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