CBS-Viacom: What Does A Merged Company Look Like Globally?

As CBS and Viacom dance around each other like teenagers at a ball, the US implications of a merger have been widely covered. However, as the two consider rebuilding the House of Sumner over the next couple of months, one of the most interesting aspects is the growing power of their international business.

“Viacom’s international networks have had very healthy growth, partially driven by Telefe recently. Furthermore, we believe there could be upside to both advertising, recently improving UK ad market, and affiliate revenues, renewals across the portfolio of networks and view Viacom’s international networks business as an underappreciated asset at the company,” noted investment bank JP Morgan.

International will play an even greater role this time around with a map of the world, and their various businesses, likely to be studied over the next few weeks as the two companies’ special merger committees consider a deal.