LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Viacom, CBS owner Shari Redstone says media companies need scale

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Oct 04, 2017
01:22 am
Reuters
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

Media content companies must get bigger to compete in the quickly changing media landscape, Shari Redstone, whose family controls Viacom Inc and CBS , told attendees of a luncheon on Tuesday at the Paley Center for Media in New York City.

"Scale matters now and is going to continue to matter in the future," said Redstone, when asked about whether she thinks CBS and Viacom should be combined. "Obviously it`s never that simple."

As competition for viewers increases in a shrinking pay TV market and AT&T Inc is in the midst of buying Time Warner Inc , content companies are wrestling with ways to grow their business.

Redstone`s remarks come almost a year after she and her father, 94-year old-Sumner Redstone, pushed to merge Viacom and CBS. They ultimately pulled the plan after negotiations between the two companies failed..

For now, the two companies are being run separately.

Scale could also come in the form of a merger or partnership with a telecommunications company, Redstone said, when asked about potential deals of that nature.

"We are only going to succeed if we have the content where consumers want to watch it," she said. "I think this is a critical piece of our business going forward, both for CBS and Viacom and for all media companies."

One audience member asked if Viacom needed to acquire content, such as sports, to be part of the many bundles of online streaming channels. Redstone, who also is on the board of Viacom and CBS, answered that Viacom could find partners, and an acquisition was not necessary.

CEO Bob Bakish is working to turn around Viacom, after years of declining ratings and ad revenue. Under his leadership the media company is developing a short form content unit, which will create programming for various delivery methods, including direct to consumer via the internet, Redstone said.

"The media companies have an advantage when it comes to storytelling because we can figure out how do we want to tell our story among all these different platforms," she said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

LATEST NEWS

Yes Bank Share price can multiply 2x to 3x over this period, says expert

Anil Singhvi’s Strategy April 13: Day support zone on Nifty is 14,200-14,250 & Bank Nifty is 30,350-30,550

iQOO 7 series India launch date revealed: Check expected price, specifications and details here

Infosys share price: Expert says buy for a target of Rs 1710

Stocks to buy with Anil Singhvi: Star Cement is Sandeep Jain's recommendation today

Gold Price Today 12-04-2021: Resistance for Gold MCX is Rs 46819 and 46932 while the support is at Rs 46394 and Rs 46550

Maharashtra Board Class 10, Class 12 exams postponed—Check what minister said about CBSE, ICSE, IB and Cambridge boards

Ramadan 2021: Moon sighting, Roza rituals, timings for Sehri and Iftaar—All you need to know

Amazon Pay, Paytm, PhonePe, MobiKwik, PayU and Ola Pay – 3 GAME-CHANGERS for you

Check best Happy Chaitra Navratri 2021 WhatsApp status, DP, stickers, GIFs, wishes, quotes, messages and greetings

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved