ViacomCBS (VIAC, Financial) (7.5%) (VIACA – $48.45 – NASDAQ) is the product of the December 2019 recombination of Viacom and CBS, two companies controlled by the family of the late Sumner Redstone. ViacomCBS is a globally-scaled content company with networks including CBS, Showtime, Nickelodeon, MTV, Comedy Central, VH1, BET, thirty television stations and the Paramount movie studio. The companies separated in 2005, but changes in the media landscape have put a premium on global scale. Together ViacomCBS should be able to better navigate shifts in consumer behavior and monetization while generating significant cost savings and enhancing revenue growth with the newly launched Paramount+ direct-to-consumer platform as a centerpiece.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund second-quarter 2021 commentary.
