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ViacomCBS virtually irrelevant without streaming spending spree

CBS and Viacom have at long last agreed on a merger that matters to very few in a content landscape barely recognizable by the two industry old guards. Most mainstream coverage of the deal announced this week has regurgitated the merged entity’s own vision of dislodging the established content companies – yet in a streaming era, even start-ups on the scene look better positioned than ViacomCBS. For all its clout and merged market valuation of $30 billion, the only way we see ViacomCBS growing rather than shrinking is to embark on an aggressive acquisition streak – rolling up emerging media firms making waves in the OTT video space. Viacom is planning to build studio production into a $1 billion business…

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