The former Viacom Group is the world's second largest media empire, with a market value of nearly $100 billion!

It has four business segments, all of which are well-known heavyweights: Pepsi, Paramount, Viacom Headquarters, and CBS Group.

However, in the past two years, Viacom and New Universal have had a face-to-face fierce collision, and the contradiction has deepened day by day, and it has become incompatible.

Last year, Pepsi was forced to spin off.

Now, the grand plan to revive Paramount has officially been shattered.

Viacom's MTV, Nickelodeon, and Comedy Central have all benefited from good results, covering almost every home user in the United States.

However, CBS suffered from the scandal and the blockade of New Universal's content sources, and the Paramount film was a complete failure.

As a result, Viacom's share price was severely dragged down.

It can be said that in the eyes of Lei Shidong and many Wall Street brokers, Viacom's stock price is now seriously undervalued, with a market value of only $26.5 billion, which is ridiculous.

In the absence of any administrative measures to increase the stock price, financial means are the only way.

Either buy back shares, pay a lot of dividends, or ...... Assets are split and listed separately.

Buying back shares, it looks like a good option.

Buying back in large quantities at a time when the stock price is so low is in the interest of Viacom Group.

The point is, there is no money!

Paramount's film suffered the worst fiasco in history, so how can there be extra cash flow to buy back shares?

Dividends are even more unlikely.

In this year, Viacom is not bad if it does not require shareholders to invest more, and it is impossible to bring any returns to shareholders.

The only option is to dismember the empire and split it up!

Paramount has collapsed and is not qualified to split separately.

The focus of the separation, of course, is Viacom's headquarters and CBS Group.

However, once it is split, there will be a lot of problems.

Viacom's main asset is the cable television network, and CBS Group's main asset is CBS Television, which is a radio channel.

Since they are all TV stations, content is the key.

Although Paramount's movies have collapsed, the film library still exists, with more than 1,000 movie rights and more than 80,000 hours of TV show rights.

This is very important for Viacom headquarters and CBS.

To split is OK, what about Paramount?

Dismembering Paramount, Split Viacom's Headquarters and CBS Equally?

As the winner of this game, Donn of course had to enjoy the joy of being a winner, and that night, he called Steve Burke, who had been on very good terms with him recently.

Steve Burke has just stepped down as president of Comcast, but he remains Commcast's vice chairman.

Comcast also has a small stake in Viacom, and Comcast should know more about Viacom's decision-making.

"Hey, Lei Shidong is old, he can't hold his breath anymore. ”

Steve Burke sighed repeatedly, in his opinion, dismembering Viacom was the most stupid option.

Perhaps in the short term, it can pull up the stock price and increase the total market capitalization.

But in the long run, it would be a mistake to separate Viacom and CBS!

Tang En said lightly: "I said a long time ago, he is already old, and it is time to retire." It's a pity that good words and advice have become mortal enemies. Viacom has nothing to do with me. ”

That's true.

It's just that, in Steve Burke's opinion, it's ridiculous.

If it weren't for the fact that you Donne Walker were too good, would Viacom be down to where he is today?

First split Pepsi, which is not enough!

Right now, even Paramount and CBS are going to be split up.

It's miserable!

He thought that he could use Michael Jackson's affair to dismember Sony's entertainment empire first. Unexpectedly, Don secretly attacked behind his back and killed Viacom first!

Ruthless enough!

It's awesome enough!

Looking at the world, who else can do this but Done?

Even the White House can't do anything!

It is precisely for this reason that Steve Burke has become more and more cautious and cautious towards Donne, for fear of having some dislike with him and following the mistakes of Lei Shidong.

Not to mention that his entertainment empire has not yet been built, even if one day, NBC really completes the merger and acquisition of Sony Entertainment and establishes an entertainment empire, it can't compete with Donn!

The disparity in strength is too great!

Now the New Globe Group has not yet been listed, and Tang En has become the richest man in the world, once the New Globe Group is listed...... One can imagine how amazing Donn's wealth would be.

Steve Burke sighed, "Anyway, Lei Shidong personally dismembered Viacom, and from now on, the entertainment industry will ...... Even in the entire media world, no one will oppose you again. ”

Tang En's heart suddenly gave birth to a touch of arrogance.

Everyone else is "killing chickens and setting an example for monkeys", but what about him?

He is a "killer of tigers and monkeys"!

Even Lei Shidong was suppressed by him half-dead, other people in the industry, who would dare to call out?

Donn smiled, "By the way, that's what I'm going to ask about, what is the main thing to break up Viacom?"

Steve Burke said: "The main thing is to spin off CBS Group from the existing Viacom Group and go public separately. It's similar to the divestment of Pepsi last year. ”

"What about Paramount?" Don said in one sentence, revealing the key to the matter.

Steve Burke was silent for a moment and said, "No specific solution has been worked out yet, but Paramount's film library is too important for CBS." For example, "CSI", which is currently the most watched TV show on CBS, but the copyright belongs to Paramount. From the current point of view, in order to complete the split as soon as possible, Lei Shidong is likely to make great compromises, such as...... Split Paramount. ”

Donne's face changed, "Split Paramount?"

Steve Burke said "um," Paramount has two core businesses: film and television. The film business has little impact on CBS, but the television business is too important for CBS. In that year, after Viacom completed the acquisition of CBS, in order to improve efficiency and save costs, CBS's TV production department and Paramount's TV production department were merged, which is now Paramount's TV production department. As a result, the current CBS does not have its own TV production department. Once split, CBS is faced with the dilemma of missing content sources. ”

Donn had already understood, "You mean to split Paramount's film production department from the TV production department?"

Steve Burke said: "This should be the ultimate solution. Paramount's label name still belongs to the film production department, but the TV production department and Paramount's TV content copyright will be divided among CBS. ”

Don was very surprised and said: "Isn't that the copyright of the TV series version of "Mission Impossible" and "Star Trek" have to be transferred to CBS?"

Steve Burke said helplessly: "This is also a helpless thing. Lei Shidong was too anxious, he couldn't bear the negotiation time for too long, and he wanted to spin off CBS as quickly as possible. ”

Don blinked a few times, and many things were figured out in this moment.

It's no wonder that Paramount will fall so quickly in the later generations, and the six are at the bottom. The core assets have been carved up, and only a shell remains, and it is strange that the results are good.

It's simply a second MGM.

In addition, Don also understands why Viacom would rather spend $3.5 billion to buy DreamWorks and join Paramount than spend $4 billion to buy Marvel.

At first, Donn just thought that Viacom's higher-ups were too stupid.

Now it seems that it is also a last resort.

Paramount's TV production department was carved out, and it just so happened that DreamWorks had a complete film and television business structure. DreamWorks has its own television production department and has even produced classic TV series like Band of Brothers.

The combination of DreamWorks and Paramount can indeed make up for Paramount's lack of a TV production department.

In contrast, Marvel is much less complementary.

From a macro management perspective, DreamWorks is better.

"By the way, what about Brad Gray? He replaced Shirley Lansing as the CEO of Paramount, but he didn't have any great results. Don suddenly thought of something again.

Steve Burke said: "He has 3 years left on his contract with Paramount, and this is the ...... It's impossible to terminate the contract, and Paramount can't afford to pay that much for the termination fee. But I'd love to hear about ......"

"What?"

"Lei Shidong seems to be intent on letting Philip directly manage Paramount. ”

"Huh?"

Don was stunned.

No way?

Lei Shidong really got into the water in his brain?

Philip Dorman, vice chairman of Viacom and Lei Shidong's number one confidant, was born on Wall Street and has excellent financial means.

However, he doesn't know anything about movies, and he is a complete layman.

Let him lead Paramount directly?

Isn't that?

It's better to give Brad Gray power!

Regardless, Brad Gray is also a well-known gold producer in Hollywood.

Steve Burke said: "Last weekend night, I also met Lei Shidong and talked about this. At that time, he spent $10 billion to buy Paramount, but in the past decade, Paramount has become worse and worse under the management of Hollywood people. He was disheartened. In other words, he has lost trust in Hollywood. ”

Don sneered: "So it's better to appoint a financial butler from Wall Street? What a joke! Let Hollywood people manage Paramount, at least they can maintain the dignity of Paramount's six giants! Let Philip Dorman lead Paramount, that is where there is no place to die!"

"Who knows?"

Steve Burke shrugged his shoulders, a little helpless and a little absent-minded, "Hollywood broke his heart, in my opinion...... He never seemed to want to deal with Hollywood again. I've heard that he's selling his Beverly Hills mansion and settling in New York. ”

It's very tactful.

In fact, Lei Shidong was taught too badly by Tang En.

He has no face to come to Hollywood again.

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