Newly merged ViacomCBS is having a really bad day
have the most overlap – namely duplicative organization areas, vendor sourcing and, to a lesser extent, real estate consolidation.”Black Rock, the modernist skyscraper designed by Eero Saarinen that has been CBS headquarters for more than half a century, is on the selling block.
This “cross-synergy” target is higher than the $500 million ViacomCBS originally projected. But that didn’t appease investors. Bakish said fourth-quarter numbers still reflected two separate companies executing on separate strategies with all the costs and none of the benefits of the merger. He cited “legacy content investment decisions” at some business units and said spending on content will ramp down across the board.
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