This year, CBS and Viacom today announced that they have successfully negotiated a deal to combine via a merger of all shares and create a company with more than $ 28 billion in revenue. The deal brings the two media companies together again after the split in January 2006. The merger will reunite the two sides to the Star Trek franchise: CBS, which owns the brand and TV rights and the library, and Viacom's Paramount Pictures, which has owned Trek film rights and film libraries.
Say hello to ViacomCBS where "content is king"
The new entity, called ViacomCBS, Inc., is named in the announcement as a "leading global, multi-platform premium content company, with assets, capacity and scale to be one of the ViacomCBS will feature the largest TV business in the United States, with the largest share of broadcast and cable shows in all key demographics. "According to ViacomCBS, the merger will" accelerate CBS and Viacom's ability to deliver a lot of compelling content to important and diverse audiences across both traditional and emerging platforms worldwide. "
The recently merged ViacomCBS will have Viacom's CEO Robert Bakish in the top as CEO and CEO. Previously appointed CBS Corp CEO Joseph Ianniello becomes chairman and CEO of CBS, where h an will monitor all CBS-labeled assets in the new company.
The merger was initially initiated by Shari Redstone, Deputy Chairman of the Boards, CBS and Viacom. In a statement, Redstone says: "I'm really excited to see these two amazing companies come together so they can realize the incredible power of their combined assets. My father once said "content is king", and that has never been true today. Through CBS and Viacom's shared passion for premium content and innovation, we will create a world-class multinational media organization that is well-positioned for growth in a rapidly transforming industry. Led by a talented leadership team that is excited by the future, ViacomCBS's success will be supported by a commitment to strong values and a culture that strengthens our exceptional people at all levels of the organization. "
Star Trek quoted as part of the strategic reason
As we previously reported, Star Trek has been cited back under one roof as an important factor in the merger. Star Trek was even mentioned in the official press release from ViacomCBS as one of the strategic rationales:
Premium content at scale. The combined company will have a portfolio of powerful consumer brands including CBS, Showtime, Nickelodeon, MTV, BET, Comedy Central and Paramount Network, as well as one of the largest iconic intellectual property libraries spanning all key genres and addresses consumers of all ages and demographics. This library consists of more than 140,000 TV episodes and 3,600 movie titles and reunites fan-favorite franchises such as Star Trek and Mission: Impossible . The combined company will also have more than 750 series currently ordered or in production. In addition, it will feature a major Hollywood movie studio, Paramount Pictures, which creates and distributes entertainment length worldwide. The combined company will also be one of the largest content consumers, with more than $ 13 billion spent over the past 12 months.
In the short term, all business can mean little in terms of Star Trek. CBS is still developing and producing a number of TV shows from Star Trek. Similarly, Paramount has two scripts in the wings, with the Tarantino project seemingly gaining some traction. Once the merger has gone through the approval process and the corporate structures are merged, there may be significant changes to the franchise in the medium to long term for Star Trek.
CBS – which is the purchasing entity for the merger – apparently takes Star Trek seriously with their continued expansion of the television franchise. The company has announced a number of additional Star Trek series for CBS All Access, and an animated series for kids on Nickelodeon – which is of course part of Viacom. All of this activity has already been put under a unit with the latest CBS announcement by the Star Trek Global Franchise Group, led by Alex Kurtzman. Exact details of how Star Trek will be handled in the future are not expected today. But the merger will probably involve Kurtzman's group taking over the development of Star Trek films.
The merger could also mean changes for CBS All Access, which is currently Star Trek's primary home on television in the United States. The Merger Declaration from ViacomCBS promises a three-part plan for growth, with the first part to "accelerate directly to consumer strategy." ] Alex Kurtzman at the Star Trek Universe panel, San Diego Comic-Con 2019
Continue to check TrekMovie for updates on the plans for Star Trek in the recently merged company.