MoffettNathanson Senior Analyst Michael Nathanson had predicted at NATPE Miami some seven months ago that a reunification of Viacom and CBS Corporation was all but inevitable.
On Tuesday afternoon, all of the chatter and rumors turned into reality, with CBS announcing the end of 13 years and 8 months of divorce.
“The only real market surprise was the midday timing of the announcement,” Nathanson says in an investor note released Wednesday commenting on the new ViacomCBS Inc. “Judging by the tepid and languid reaction, the new company will have to work extra hard to prove the financial merits of this combination.”
