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ViacomCBS CFO Naveen Chopra is ready to dial up the heat on streaming foes Netflix, Disney, Amazon and AT&T-owned Warner Bros. Chopra — the former interim CEO of Spotify rival Pandora and more recently the CFO of Amazon’s devices business — joined ViacomCBS in August.The mission for the seasoned veteran: use his vast media experience to … It’s a really exciting time for ViacomCBS, and we look forward to working closely together as they evolve their business model around the world.” ViacomCBS Stocks in the media industry, including ViacomCBS, Since Feb. 19, shares in the media giant have shed nearly two thirds of their value to $13.99 a share on Thursday. ViacomCBS Stock Tumbled Because There Isn’t Much Upside for an ‘Old Business Model,’ Says a Bear . That’s bad even amid the coronavirus-triggered market selloff. ViacomCBS has the making of a contrarian bargain hunting investment potential -- on the surface. We've detected you are on Internet Explorer. Write to Evie Liu at evie.liu@barrons.com. Every weekday evening we highlight the consequential market news of the day and explain what's likely to matter tomorrow. What Should Investors Know Ahead Of The Potential Lucid Motors SPAC Merger? The contemporary Netflix business model focuses on content creation and ownership, Wilson explained. Earnings would be hit hard because of an increase in cord-cutting and a prolonged drop in TV advertising demand, which, according to Juenger, might not recover. ViacomCBS TECH is continuing to align our employee technology teams to amplify our focus on end user experience and unify the support model for many of ViacomCBS’s end user and enterprise applications. Deep understanding of the ad supported video streaming business model and the content ecosystem. AMC Networks Inc. hired Christina Spade, the former finance chief of ViacomCBS Inc., to lead its finances through the coronavirus pandemic and help grow its streaming business. ViacomCBS CFO Naveen Chopra is ready to dial up the heat on streaming foes Netflix, Disney, Amazon and AT&T-owned Warner Bros. Chopra — the former interim CEO of Spotify rival Pandora and more recently the CFO of Amazon’s devices business — joined ViacomCBS in August.The mission for the seasoned veteran: use his vast media experience to expand Viacom’s presence in streaming so it … ViacomCBS stock was one of the worst performers in the S&P 500 on Thursday, tumbling 5.1% while the broader index rallied 6.2%. JOB LOCATION: New York, NY. The deal was a response to the rapidly changing media-and-entertainment industry, where users have been ditching cable and satellite-TV bundles in favor of on-demand online streaming services such as Netflix (NFLX) and Amazon.com’s (AMZN) Prime Video. The selloff came following a report by The Wall Street Journal that ViacomCBS’s parent, National Amusements, has restructured its credit facilities with lenders to avoid selling ViacomCBS stock to meet its debt payments. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. The recent economic disruptions caused by the coronavirus have only added to the headwinds on earnings, while the unknown effects of the pandemic—including the possibility of a recession—have more than halved the stock’s valuation. Work collaboratively with data science teams to set business analysis priorities and partner with them to develop the efficient modeling approach to address them. stock was one of the worst performers in the ViacomCBS is the result of a merger between CBS and Viacom last December. ViacomCBS’ businesses include CBS television, CBS News, Showtime, Comedy Central, MTV, Nickelodeon and the Paramount movie studio. As part of the deal, National Amusements will have a revolving facility of $125 million to fund operations of its theater business, but is giving up access to a $75 million credit line, the Journal reported. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. ViacomCBS' Entertainment and Youth Group is leaning into its shift away from cable brands and into content. Following the merger of CBS and Viacom announced earlier this year, the combined company today confirmed its plans to restructure its content and digital leadership teams in … Earnings would be hit hard because of an increase in cord-cutting and a prolonged drop in TV advertising demand, which, according to Juenger, might not recover. Even if the economy snaps back quickly with no lingering impacts, he thinks investors could find other stocks with much more upside during the market recovery. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? NEW YORK--(BUSINESS WIRE)--ViacomCBS Inc. (NASDAQ: VIAC; VIACA) today reported financial results for the quarter and full year ended December 31 st, 2019. Photograph by Tiffany Hagler-Geard/Bloomberg, restructured its credit facilities with lenders. ViacomCBS did not reveal the financial terms of this deal with Hulu. ... the deal doubles down on a business model that has been in decline for a decade. ViacomCBS Networks International has appointed Wavemaker as its global media agency of record, effective February 1, 2021. JOB SCHEDULE: Full-Time. The company's main assets include the Paramount Pictures film and television studio, CBS … (NFLX) and In November Hulu announced that the price for their Live TV service was going up to $65 per month. Redstone is the New York-based company’s non-executive chairman. According to FactSet, 12 of 24 analysts who cover the company rate the stock at Buy or equivalent, while another 10 have Hold ratings. The deal wasn’t accepted well by the market at a time when National Amusements’ key revenue drivers—movie theaters, new film releases and live-sports broadcasts from the CBS network—have all come to a halt because of the Covid-10 pandemic. In a slightly less bearish scenario, Juenger expects ViacomCBS stock to trade at $12, Discovery at $19, and AMC Networks at $28. This copy is for your personal, non-commercial use only. Amid the social unrest over the killing of George Floyd in Minneapolis, ViacomCBS decided it could no longer be in business with Big Fish. ViacomCBS Senior Analyst, Business Development in West Hollywood, California About The Brand Pluto TV, a ViacomCBS company, is the leading free streaming television service in America, delivering 250+ live and original channels and thousands of on-demand movies in partnership with major TV networks, movie studios, publishers, and digital media companies. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. The value of National Amusements’s stake in ViacomCBS—pledged as collateral for the credit line—has fallen below the minimum requirement. #LI-JR1. ViacomCBS’ 2021 Showcase is going virtual this year — and they have set the producing team for the annual event that highlights diverse talent … That’s bad even amid the coronavirus-triggered market selloff. 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