BTIG's Greenfield Says Moonves Doesn't Want CBS-Viacom Deal

The transcript discusses the pressure on legacy media companies as consumers shift from traditional TV to online platforms. It highlights the challenges faced by companies like Viacom and CBS, and the potential merger between them. Les Moonves' role in the merger is analyzed, along with the competitive landscape involving Disney, AT&T, and Comcast. Growth opportunities and strategies for CBS and Viacom are explored, including the importance of scale and content. The valuation and future prospects of a combined company are discussed, as well as the media market outlook and potential changes.

What is causing significant pressure on the legacy media companies?

• Consumer shift to internet-based services

• Increase in traditional TV viewership

• Growth of radio advertising

• Shift of ad dollars to TV

What is the main reason the Viacom and CBS merger did not happen in 2016?

• Les Moonves' reluctance

• Lack of financial resources

• Regulatory issues

• Opposition from shareholders

What is the primary goal of merging Viacom and CBS?

• To increase scale and compete with larger companies

• To reduce operational costs

• To focus on print media

• To enter the radio market

What is a key benefit Viacom brings to CBS in the merger?

• Access to radio networks

• Reduction in employee count

• Robust direct-to-consumer content

• Increased advertising revenue

Why is scale important for CBS and Viacom in the context of sports rights?

• To focus on local sports events

• To enter the sports equipment market

• To compete with larger companies for sports rights

• To reduce production costs

What is a potential strategy for Viacom and CBS after merging?

• Concentrate on print media

• Exit the media industry

• Sell to a larger company or acquire more assets

• Focus solely on traditional TV

What is a potential outcome if the AT&T and Time Warner deal does not go through?

• Assets may become available for acquisition

• AT&T will exit the media industry

• Time Warner will merge with Disney

• The media industry will remain unchanged