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The Next Example of Deconsolidation: Viacom Will Spin-off Following Board Vote
For all the Wall Street talk in the '90s that "bigger is better" and would lead to greater efficiencies, synergies and profitabilities, it looks like another media giant no longer believes that talk. Today, Viacom announced the vote from its board meetings that it will indeed spin off into 2 different, separate, publically-traded companies in 2006..."Viacom" (which will retain properties like MTV Networks, Paramount Pictures and theme parks and continue to be led by Tom Freston) and "CBS Corporation" (which will have CBS, the O&Os, King World and Paramount TV production, Showtime, Viacom Outdoor, Infinity and publisher Simon & Schuster, led by Les Moonves). Looks like Viacom is following Dick Parson's thinking for Time Warner's AOL and its cable divisions...can Clear Channel be noticing this developing trend? How about Wall Street?
Click the headline to read the USA Today article.
posted by Unknown @ Tuesday, June 14, 2005,
