The merger of CBS and Viacom, which seemed like a foregone conclusion for much of the year, is instead on hold—perhaps permanently.
The rumors floating around all year that CBS Corp. and Viacom might recombine 10 years after they split apart are no longer just rumors: National Amusements has sent a letter to both boards, asking them to consider a merger in what would be an all-stock deal.
Given how strong the scatter market had been last season, and the network execs' brash predictions of a lucrative upfront after a couple of lean years, buyers had entered upfront negotiations prepared for the worst—or so they thought.
After finishing the 2015-16 season as the No. 1 broadcast network in total viewers and adults 18-49, CBS has now become the first broadcast network to cross the upfront finish line.
To assemble Adweek's second annual Power List, we considered the profiles and results of global corporate titans, taking into account such criteria as company value, revenue and revenue growth, market performance, consumer reach and affinity, their standing among rivals, the number of employees overseen, key acquisitions and partnerships, industry accolades and media buzz.
"Is television dead?" During Turner's upfront presentation on Wednesday, truTV host Billy Eichner called that a silly question, adding, "It's so stupid. That's more stupid than not giving Samantha Bee The Daily Show."
CBS was in the mood to celebrate during its upfront presentation for buyers at New York's Carnegie Hall Wednesday afternoon.
Several networks have claimed that they are No. 1 in some demo or another during upfronts this week. Today it was time to hear from the only network that can believably make the claim of being No.
Look for a bit more swagger on display than usual during this week's broadcast upfronts. For the past several months, network execs have eagerly pointed to this season's exceptionally robust scatter market as an indication that this upfront will be the strongest in years. Those boasts only intensified during the most recent round of earnings calls.
Super Bowl 50 is only days away, but it's not too late for an advertiser to squeak into the game. CBS is still speaking with marketers about 30-second spots and might not finish those talks until hours before kickoff.