Posted on 06/25/2023 7:56:54 AM PDT by E. Pluribus Unum
We live in interesting times. The old media giants are just money-losing properties out of phase with a new arrangement in which networks, free and cable, are being replaced with streaming subscription packages.
When Discovery found it had CNN on its hands, it tried to clean house because the cable news network is an unwanted drain.
But an even bigger legacy name in news may be circling the drain. Think Cronkite and Rather.
Equity analyst Steven Cahall of bank Wells Fargo gives Paramount Corp. another “1-2 years” of throwing “good money… after bad,” chasing a streaming profit that may never come, and riding out the last gasps of linear television, before “the break-up becomes inevitable.”
The “good money” within Paramount Global lies inside its studios, which Cahall sees as worth about $30 billion in a sale, per a note he sent to clients on Thursday…
That’s the general consensus surrounding Paramount Global: It’s got great studios and a deep library, but the suite of cable channels and other antiquated assets belong in the bargain bin. Even broadcast network CBS, despite regularly drawing the most viewers on television, is more of a burden than a blessing in potential M&A activity.
For example, NBCUniversal parent Comcast would have good reason (and good money) to buy Paramount Global in its entirety — heck, Paramount+ could even be the thing that saves Peacock — but owning both NBC and CBS is an FCC no-no.
The short version is that CBS isn’t seen as an asset anymore in the equity game, it’s a platform in an era where everyone is chasing subscription platforms, not ad-supported network viewing. (This is dumb, but that’s the current business model that the industry is using to bankrupt itself.)
(Excerpt) Read more at frontpagemag.com ...
Noting that, on this graphic, Paramount is the old Viacom+CBS media properties.
Blue Sky Studios no longer exists.
Comcast can do what Disney did. Buy everything except for the network and owned stations.
Disney didn’t buy Fox News, Fox television network, and the Fox owned and operated television stations like KTVU, etc.
Our 40-something employees get their news from social media: not network tv, cable, newspapers, or radio. Times have changed for sure!
I’m with you. On election night I’ll flip from station to station but, except for that, I’ll be it’s been 20 years
It is ALREADY gone, just like the other big three lettered and add-on streamer lickspittles for the Democrat Party.
People watched Cronkite but his 15 minute news shows - (later moved to 30 minutes) were never designed to make money. The shows were network status markers that flowed from ole movie newsreel shorts after World War II.
When ‘news’ people started throwing their credibility away with alarmism (silent spring - population bomb, war lies etc) and bias it was over - just took a couple of decades to be noticed.
CBS News May Be Gone In a Few Years!
Why wait a few years, just make it ‘gone’ from our homes.
“What’s the frequency, Kenneth”?
Indeed the U.S.S.R. didn’t die it changes it’s name many times.
BREAK EM UP!
Walter is not spining , he is with Teddy.
ABC merged with Disney(and Cap Cities). NBC merged with MSN. Fox built Fox Sports and Fox News. CBS just said “Cable? Internet? Who needs that?” Those decisions from the 1990s and 2000s explains how CBS got left behind. They didn’t merge or add anything of real value in the mediasphere. Meanwhile, the others were keeping their necks above water.
Don’t watch cable news neither. Especially Faux Snooze.
Good news
Soon C No BS
.
It's mostly old people that watch alphabet network news. The DNC is more interested in accessing the younger generations. That's where the future of controlling what the public is exposed to is.
It’s already been “gone” in many senses for a long time.
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