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Two lobbyists were hired last week to grease the wheels with the FCC (conjectured to sell off CBS or sell the whole thing to Disney or Uni)
The dual trials could also shed some light on the future of Paramount, which is the subject of near-constant deal speculation, including possibly selling the combined company and/or spinning off CBS. This past week, Paramount C.E.O. Bob Bakish hired two powerful new lobbyists ostensibly to advise the company on tax issues, but also, presumably, to grease other wheels in Washington. The F.C.C., after all, has just begun its quadrennial review of media ownership rules. On the table is the “dual network” rule, which prohibits a merger between any two of the four major TV broadcasters.
Redstone has said repeatedly that she’s not a seller, but there’s no doubt that she would appreciate the optionality. Getting rid of the “dual network” rule would, after all, open up the possibility of a CBS acquisition by Disney, which owns ABC, or Comcast, which owns NBC, unlocking more possibilities than if the company was sold in parts. A rethink of the rule is probably overdue, anyway, given the diminished importance of the “Big Four” in the streaming era. If that restriction is lifted, it’s off to the races for Wall Street.
Two lobbyists were hired last week to grease the wheels with the FCC (conjectured to sell off CBS or sell the whole thing to Disney or Uni) Feb 07, 12:48