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Bob Bakish batted away questions about a potential merger with CBS on Tuesday and instead doubled down on his strategy for growing Viacom, talking up Paramount’s TV production business and revealing that MTV is making a soon-to-be-announced reality show for one of the major streamers.
Bakish, speaking at the Royal Television Society London Conference, would not directly address a potential CBS-Viacom merger but acknowledged “there is a quest for scale” in the media business. He said Viacom was focused on its own growth plan and creating scale organically. “Where I sit today, we have a very clear path to value creation ahead of us,” he said, adding: “There is a lot of exciting road ahead without consolidation.”
Viacom - TV - Business - Opportunities - Streaming
He spoke extensively about protecting Viacom’s traditional linear TV business while also capitalizing on new opportunities with its own streaming services, and in providing content to the likes of Netflix and Amazon. MTV is making a reality show for a major streamer, Bakish said, and Paramount Television will go from producing nine shows in 2018 to 16 next year, shifting from a $400-million to a $600-million operation, on its way to becoming a billion-dollar business. The...
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