ViacomCBS Chairman Shari Redstone invoked her father, media mogul Sumner Redstone, while introducing the company’s streaming event on Wednesday.
“This is not your father’s ViacomCBS and it’s not my father’s either,” she said.
Sumner Redstone, who died last year, was famous for saying that “content is king.”
Today, ViacomCBS “starts and ends with content,” Shari Redstone said. “It’s super clear. We are not confused about what we are, a pure play content company.”
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But while the event was billed as a streaming event, Redstone, who won a bruising battle for control of Viacom and CBS and then combined them, said the company would be in both the streaming business and the linear business.
She noted that some have called on ViacomCBS to be either all in on linear or all in on streaming. “That’s a false choice," she said.
She said the industry was changing at different paces in different places and that the company would let consumers experience their favorite content everywhere and on every platform.
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Redstone told analysts that while ViacomCBS is considered a value stock, “inside our value company is a powerful engine for growth.”
“We will deliver to our shareholders a while that is more than the sum of our parts,” she said.
