Hollywood, Nickelodeon, LEE discussed on Bloomberg Best


The former vice chair of Lehman Brothers says banks should get ready for the next crisis I think financial crises are endemic to the capitalist system there's a fundamental problem in the growth of globalization and with former Hewlett Packard CEO Carly Fiorina on her new book find your way on Lee shore power and highest potential well my experience is that leaders are made not born all this and more coming up in the next hour media merger Viacom and CBS are reuniting after thirteen years in a long awaited eleven point seven billion dollar deal Bloomberg's Vonnie Quinn spoke with the man who will lead the combined company bought back ishe curious as to the couple of days that brought you to this point you ended up striking a deal at point five nine six two five a CBS share did you come down to meet CDS hello we're thrilled that we announce the combination of Viacom C. B. as creating a leading global multi platform premium content company when you look at the assets that unites you know the power house CVS of broadcasters station operators syndicators studio with Paramount Pictures one of the most storied studios in Hollywood a set of global brands in pattern a Nickelodeon MTV and Comedy Central B. ET the really shaped culture for four years Simon Schuster forcing consumer publishing and of course show time a premium service that's really push the boundaries of storytelling so we've created incredible asset base now this was a deal that was negotiated by two special committees that went through a very diligent and thoughtful process and again I think the critical thing is we got the deal done because it positions us to do great things going forward no question it's a phenomenal deal for both sides and clearly there was willingness on both sides to get it done somehow yet there are some shareholders that are a little bit numb posts that Viacom isn't valued more in this field are you belly for example threatening to sue could you have come up would CBS have given in eventually again this is a deal the negotiations conducted by two special committees of independent directors what you need to focus on is the value creation potential and here these are two companies that were there validate particularly low multiples a lot of that was due to the uncertainty that was hanging over them including the steel and also a lack of clarity on the path forward we talked and started talking about a three part growth strategy you know really building of a significant TTC business through the combination.

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