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MarketScreener Homepage  >  Equities  >  Nasdaq  >  ViacomCBS Inc.    VIAC

VIACOMCBS INC.

(VIAC)
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ViacomCBS : sells Simon & Schuster to Pengiun Random House

11/25/2020 | 11:45am EST

ViacomCBS said Wednesday it has agreed to sell publisher Simon & Schuster to Penguin Random House for more than $2 billion.

ViacomCBS said the $2.175 billion sale came after "a highly competitive auction" for the publisher, which has been involved with works by Stephen King and presidential scholar Doris Kearns Goodwin, along with popular titles like The 7 Habits of Highly Effective People and Catch 22.

"This divesture follows a strategic review of non-core assets ViacomCBS undertook early in 2020," ViacomCBS said in a statement. "Proceeds from the transaction will be used to invest in ViacomCBS's strategic growth priorities, including in streaming, as well as to fund the dividend and pay down debt."

ViacomCBS said it will upgrade and rebrand its CBS All Access streaming service under the name Paramount+ next year.

"We've made the determination that Simon & Schuster is not a core asset of the company," ViacomCBS's CEO Bob Bakish said. "It is not video-based; it doesn't have significant connectivity to our broader business. At the same time, there's no question it's a marquee asset that's highly valuable."

The ViacomCBS portfolio includes the CBS network, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET and PlutoTV.

The deal is expected to be completed next year.

Copyright 2020 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News

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Financials (USD)
Sales 2020 25 972 M - -
Net income 2020 2 273 M - -
Net Debt 2020 16 417 M - -
P/E ratio 2020 12,3x
Yield 2020 2,11%
Capitalization 27 990 M 27 990 M -
EV / Sales 2020 1,71x
EV / Sales 2021 1,56x
Nbr of Employees 23 990
Free-Float 49,3%
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Technical analysis trends VIACOMCBS INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 34,25 $
Last Close Price 45,30 $
Spread / Highest target 25,8%
Spread / Average Target -24,4%
Spread / Lowest Target -67,8%
EPS Revisions
Managers and Directors
NameTitle
Robert Marc Bakish President, Chief Executive Officer & Director
Shari Ellen Redstone Non-Executive Chairman
Naveen Chopra Chief Financial Officer & Executive Vice President
Philip R. Wiser Chief Technology Officer
Linda M. Griego Independent Director
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